White House on disastrous jobs report: Problems in the labor market won't be solved "overnight," you know

Anyone want to try defining “overnight” for me, just so that we have a rule of thumb going forward? On Inauguration Day, I would have accepted “2009” or even “his first two years in office” as plausible answers. Instead, five months out from election day, somehow dawn still has yet to break. His braintrust is now actually on the cusp of arguing, in all seriousness, that it’s unfair to judge him on what’s happened in the jobs market over the course of his entire first term.

What do you do when America’s just taken an economic gut punch, with a vicious European uppercut soon to follow? You hold six fundraisers, naturally:

With Republicans steamrollering ahead with a group of well-fed Super Pacs and an increasingly successful money effort by Mitt Romney, President Obama Friday will attend six fundraisers, a possible sign of budding desperation for a campaign that is lagging far behind its initial fundraising expectations.

Obama will travel to Minneapolis, where he will ensconce himself at the Bachelor Farmer Restaurant for three successive fundraising events. Afterward, he moves on to Chicago for a fundraiser at the Chicago Cultural Center and then two events at what appear to be separate private residences.

Have a look at who’ll be at his Chicago fundraiser. It must be a comfort to him, with so much going wrong, to spend time with old friends.

Incidentally, here’s what today’s atom-bomb jobs report did to his reelection odds on InTrade. A surprisingly small dip, all things considered, but I think they’re in the ballpark of what his actual chances are right now. If next month’s report is a stinker too, though, expect Romney to surge past him and become the new favorite in November:

His new Plan B on the economy? The thingamajig stimulus.

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