Today is


   "A word to the wise ain't necessary --  
          it's the stupid ones that need the advice."
					-Bill Cosby

Friday, October 08, 2004


Some more on jobs and the economy

The jobs report for September was pretty much middle of the road numbers with 96,000 jobs created and unemployment holding at 5.4%. The 96k was less than analysts were predicting but still enough to show that the economy and job creation were staying strong. Bush should be able to use these numbers to his advantage in tonight's debate. Also, here are some interesting numbers I neglected to note from yesterdays Investor's Business Daily column that I linked yesterday:
The payroll survey shows a net job loss of 913,000 between January 2001 and August 2004. However, the payroll survey also shows a net job gain of 1.7 million between August 2003 and August 2004.
Based on these numbers, doesn't it stand to reason that the high job loss in the earlier part of Bush's administration may have been due to the recession he inherited, the 9/11 attacks and the slew of corporate scandals? And don't high job gains toward the end of his term seem to indicate that his economic policies (namely tax cuts) ultimately overcame the adverse conditions which had a detrimental impact? This makes sense especially if you consider that presidents and their economic policies can't really impact job creation, at least in the short-term. This would explain why Bush's tax cuts had little impact in the early part of his administration. However, over the long term, tax cuts can certainly boost a lagging economy and this would explain why the huge upsurge in jobs has come toward the end of Bush's first term.

I'm getting a little burned out on politics this week, so here's a
funny and lighter look at it.

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