The reason you don’t hear much from the angry left about the “jobless recovery” and the worst economy since Herbert Hoover” etc is that one of the least reported stories is how on fire the economy is (and has been since the 2003 Bush Tax Cuts that were unanimously opposed by just about every liberal Dem in Congress).
In case you missed it those tax revenues keep pouring into the Treasury as a result of the Bush Tax Cuts-the exact opposite of what liberals predicted:
The federal budget estimate for the fiscal year just completed dropped to $250 billion, congressional estimators said Friday, as the economy continues to fuel impressive tax revenues.
The Congressional Budget Office’s latest estimate is $10 billion below CBO predictions issued in August and well below a July White House prediction of $296 billion.
The improving deficit picture _ Bush predicted a $423 billion deficit in his February budget _ has been driven by better-than-expected tax receipts, especially from corporate profits, CBO said.
If it really is “about the economy stupid” then The GOP will retain control of Congress in a few weeks. (which I predict).
Update:
Nancy Pelosi had this to say about the Labor Department’s September jobs report showing an increase in jobs, a jump in average hourly income and a decrease in unemployment. and Speaker Hastert’s comments that “September’s lower unemployment rate, steady job growth and increased hourly earnings comes on the heels of a record-setting week on Wall Street.”
But Pelosi said the economy is bad for most Americans, because “the cost of everything from housing, to health care, to energy is making it harder than ever to make ends meet, tightening the middle-class squeeze,” Pelosi said. “The Dow is up, but people’s retirements are less secure than ever.”
Yup Nancy, we are all doomed. NO doubt. Nice campaign message. Scare Americans and tell them how 14 consecutive quarters of positive GDP, record low unemployment and inflation, record stock market levels and decreasing defecits are bad for “average working Americans.” (i.e. people that work and pay taxes). Yes I am sure that Americans are chomping at the bit Nancy to elect tax and spend libs like you for a “New Direction” (really novel campaign slogan) so that you can increase taxes and regulations to put an end to all the obvious damage the Bush Tax Cuts have wrought on America.
And they wonder why they lose election after election?
Update:
I wonder if Nancy read this report?
Unemployement Falls to 4.6%
So says the Bureau of Labor Statistics (PDF). It also notes that average hourly earnings rose from $16.80 to $16.84 – while over the past year hourly and weekly earnings have increased by 4%.
Full story here. (HT B4B).