Thursday, September 9, 2010
Good for the country--the Republicans don't want this
Great economic news out today: The number of people signing up for unemployment benefits dropped to the lowest level in two months, an encouraging sign that companies aren't resorting to deeper layoffs even as the economy has lost momentum.
The Labor Department reported Thursday that new claims for unemployment aid plunged last week by a seasonally adjusted 27,000 to 451,000. Economists had predicted a much smaller decline of just 2,000.
In a second hopeful sign, the government said the trade deficit narrowed significantly in July as exports climbed to the highest level in nearly two years. The narrower gap reflected big gains in exports of U.S.-made airplanes and other manufactured goods. Imports declined.
Together, the two reports eased fears that the economy might slide back into recession. But the thing is, good as these are for the country, it's not what Republicans want to hear right now. Anything good for the country is bad for them--bad for their election chances this Fall. I'll say again, anything good for President Obama--and so, the country--is not wanted by the Republicans until at least 2012, if not 2016. The Republicans are scared to death of having this President and his party--the Democrats--strong and in power even for a few more campaign cycles, let alone for the next decade or two or three, as happened after FDR took us through the Great Depression. The "Party of No"--the Republicans--is not the "Party of Ideas". They may not know what they'll do if returned to power but they do know what they don't want.
Link to original story: http://news.yahoo.com/s/ap/20100909/ap_on_bi_go_ec_fi/us_economy
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment