Former Clinton Labor Secretary: “Things are Getting Worse, Not Better”
Democrats’ Optimism on the Economy Debunked, August Job Numbers “Still Awful”
“Obama focused on the $787 billion stimulus plan, an ambitious package of federal spending and tax cuts designed to revive the economy and save millions of jobs…. The stimulus package was a huge victory for Obama less than one month into his presidency. Still, he declared, ‘We have begun the essential work of keeping the American dream alive in our time.’… The only thing certain is that Obama is on track to boost a federal debt that stands at $10.7 trillion. Clearly mindful of that, Obama said: ‘We will need to do everything in the short term to get our economy moving again’ as well as ‘begin restoring fiscal discipline and taming our exploding deficits over the long term.’” (“Obama: Stimulus lets Americans claim destiny,” Associated Press, 02/17/09)
Credibility Crash: Former Clinton Labor Secretary Says “Things are Getting Worse, Not Better”
67,000 in August may be better than expected, but it’s still awful. 125,000 are needed just for the growth in potential workforce. And the trend is moving in the wrong direction. Revised figure shows private sector created 107,000 jobs in July. In other words, things are getting worse, not better. (David Mark, “Obama’s optimism on the economy justified?”, Politico, 09/03/10)
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