Which Convention was “strange, full of insults”? Romney Weighs In (Baier Interview – VIDEO)

Well, they’re over.

In an attempt to woo voters, Republicans and Democrats have put their best convention feet forward.

After just the first day of the Republican National Convention (a full day of activity was cancelled due to developing storm Isaac), Obama’s top adviser Robert Gibbs characterized the GOP gathering as “angry” and “strange” and “full of insults. His remarks must have been festering in a folded paper in his hip pocket for weeks; he was pretty pleased to grab a few headlines. What Gibbs wrote turned out to be a prognostication of his own party’s convention goings-on a few days later in Charlotte, NC…

In spite of the sensitive and well-handled Republican convention storm adaptations, some rabble-rousing Democrats called for a cancellation of the entire convention. But, once the Democratic National Convention got underway a few days later, there was no reference from speakers of Hurricane Isaac or helping the victims.

Our President’s re-election insecurity prompted a ‘save-me’ call to former president Bill Clinton. Team O thought he was needed to take center-stage to plaster some pizazz over Obama’s putrid economy. Yes, that Bill Clinton who once called Obama “the chief executor of good intentions” and formerly said of Obama “A few years ago, this guy would have been carrying our bags.” Yikes. Clinton jumped at the chance to appear be a team player while visions of Hillary in the White House (and himself) danced in his head.

Obama, in spite of doing his best to rattle the rafters, delivered a flat, warmed-over class-warfare speech we’ve numbingly heard before. Maybe knowing the jobs report numbers that were to be released today messed with his head.

ADDENDUM - A comment on Michelle Obama’s speech: One got the feeling Mrs. O spent a month of Sundays at studied speech practice in front of her ‘make-up’ mirror getting those inserted smiles and practiced pauses just right. The drama… Her “Obama hunched over his desk” (hunched – mind you!) poring over letters from people having a hard go in this hardship economy (no mention of Obama’s part in it) was that which made listening to her barely tolerable. But, the cake-taker for me was her affected stammers – meant to pepper following prose with dramatic sincerity but only highlighting insincerity – that relegated her to the category of ‘First Lady Duping-The-Folks Academy Award’. She laid it on too, too thick. Charles Krauthammer thought so, too:

Most brilliantly manipulative:

Michelle Obama, by three touchdowns. Beautifully structured, delivered with studied emotion — the feigned stammer to render natural a finely written telepromptered text was a touch of genius — she made the case for why her husband governed as he has.

Because he cares. He loves his wife, loves his children, loves his family — therefore he loves you. The syllogism, a total non sequitur, was laid on with panache.

It worked. She managed to drain her husband’s entire first term of any hint of ideological or personal motivation. He is driven by his caring, giving soul — not by a deeply felt ideology developed in youth: redistributionist, government-centered, disdainful of success, committed to his social-democratic view of social justice.

Only a wife can turn a ruthlessly ambitious pol, who undid the Clintons four years ago and today relentlessly demonizes Romney, into a care bear. She pulled it off.

Read more here and here.

How about that floor flight spectacle over including “Jerusalem” and “God” in their platform?! They actually BOOED God. Plus, those numerous, hissing references to Republicans as Nazis were a turn-off and deeply insulting to those who have actually endured Nazism.

Don’t forget the featured steel worker who claimed he worked for Bain Capitol. He embellished his story against Bain by stating he lost his job when the Bain-controlled company GST steel filed for bankruptcy in the early 1990s. A big LIE.

In the end, Democrats tried to razzle-dazzle with actresses and musicians James Taylor, Mary J. Blige, and the Foo Fighters. An array of liberal speakers brought forth a parade of theatrical over-the-top rhetoric, misrepresentations, and outright lies about Mitt Romney and Paul Ryan. (Did you know Republicans are plotting to take the vote away from women? And, will do all within their power to stop women from using contraceptives? NOT.) Did you happen to catch former MI Governor Jennifer Granholm’s meltdown?

It was a circus of slander.

Mr. Gibbs, YOUR convention was angry, full of insults, and very strange.

FOX New’s Bret Baier caught up with Mitt Romney today in Sioux City, Iowa to ask him about Obama’s acceptance speech last night, today’s jobs report, repeated false claims he didn’t care about the American auto industry, doesn’t care about the U.S. military, and more:


UPDATE – Another Romney interview with FOX News’ Carl Cameron:

► With only 96,000 jobs created in August (down from 141,000 jobs in July), Obama’s hoped-for convention re-gilding isn’t going to happen:

The economy created only 96,000 jobs in August, the unemployment rate remains above 8 percent, and more than 350,000 Americans have dropped out of the work force. While some may focus on the jobs that were created last month, this jobs report is nothing but horrendous. I welcome any jobs, but American workers giving up on employment in the weakest recovery since the Great Depression is cause for alarm, not celebration.

The unemployment rate has not fallen below 8 percent for the past 43 months. The labor force participation rate is at the lowest level in 31 years. If the labor force participation rate were at the same level it was before the recession started, the unemployment rate would be 11.6 percent today. And the rate of “underemployment” or “real unemployment,” including the unemployed, those who want work but have stopped searching in this economy, and those who are forced to work part-time because they cannot find full-time employment is actually at 14.7 percent. We’re still experiencing a significant jobs crisis, whether President Obama recognizes it or not.

President Obama’s policies of more spending, more debt and more taxes haven’t worked. It’s way past time for a course correction. The country needs responsible leadership, not the President’s boasts over anemic growth and unending pleas for patience. Americans are looking for a sustained and real recovery. This weak report is nowhere near enough, and this has gone on long enough. Any real jobs plan must stop the regulatory madness and avert the fiscal cliff of tax increases on January 1. The health care law is yet another drag on the economy. Small businesses need tax relief and regulatory certainty to grow and hire.

What about the numbers of those Obama has been systematically slipping onto disability rolls after their unemployment benefits run out? Once on disability? Most always ON disability for life. Also, the Dept. of Labor today did what they usually do; they revised down the job numbers for the two previous months, resulting in 41,000 fewer jobs created than originally reported.


The way Obama opted to defend his record of failure today demeaned himself. Speaking at a rally, this is what he said on Romney, Ryan, and Republicans: “Tax cuts, tax cuts, gut some regulations, oh, and more tax cuts. Tax cuts when times are good, tax cuts when times are bad. Tax cuts to help you lose a few extra pounds. Tax cuts to improve your love life. It’ll cure anything, according to them.”

A few cheap laughs for a failed president.

Let’s turn that around, Obama: “Tax increases, tax increases, inflict more regulations, oh, and more spending increases. Tax increases when times are good, tax increases when times are bad. Spending increases to help you lose a few extra pounds. Tax increases to improve your love life. It’ll cure anything.”

Obama’s got nothin’. The middle class, small businesses, and the one in six Americans who have slipped into poverty are especially fed up. That’s why his manipulative oratory in Charlotte did not include a word about the USA’s staggering, almost incomprehensible debt of over $16 TRILLION and the 47 million Americans who, under his watch, now put groceries on the table with food stamps.



Follow Jayde Wyatt on Twitter @YayforSummer

Romney Blasts Obama on Jobs Report: “Another Hammer Blow to Struggling Middle-Class”

Economy barely putt-putting along… Team Obama says they’re “ahead of the curve.”


8.3%.

23 million Americans are out of work.

July’s jobs report reveals another bruising whack at the middle-class.

While speaking to voters today at ‘Sierra Truck Body and Equipment’ in North Las Vegas, NV, Governor Mitt Romney responded to the jobs news:

“And, of course, today we just got a new number from the unemployment report and it’s another hammer blow to the struggling middle-class families of America because the President has not had policies that put American families back to work. I do. I’ll put them in place and get America working again. You know this. These numbers are not just statistics. These are real people really suffering, having hard times. 23 million Americans out of work, or stopped looking for work, or way underemployed. 23 million. The official unemployment number: 8.3 percent. That’s the longest period of time, 42 months, the longest period of time we have had unemployment above 8 percent in American history – since this has been recorded. This is an extraordinary record of failure. The President’s policies have not worked because he thinks government makes America work. He’s wrong. It’s people like John that make America work.”

(emphasis added)

Team Obama is spinning the latest unemployment news as being “somewhat ahead of the curve.” Uh huh. That goes hand-in-glove with Obama’s lofty declarations that “the private sector is doing just fine“, “you didn’t build that“, and the economy will be stimulated if we “buy furnace thingamajigs.”

Romney continued to reassure Americans he knows how to get Americans working again:

“And so the time has come for a plan that will actually get America’s workers back to work, that’ll create more jobs and take-home pay. And I know how to do that. This is not a mystery for me. This is not theory. This is practice!”

With his focus on helping the middle class climb out of the Obama morass, Romney presented a five-point economic plan yesterday which includes “achieving energy independence, cutting the deficit and balancing the budget, improving education, strengthening trade practices, and championing small businesses.”


A few results of Obama’s “ahead of the curve” putt-putt governance…

(more…)

President Obama’s ‘Closer’ Came Out of the Bullpen Too Early

I love baseball. I love the strategy employed by managers to attempt to control every facet of the game. I love it when things work out in their favor thinking that somehow their decision to pitch their ace right hander against the pinch hitter that hits .106 against righties works out in their favor. Maybe I just like having the odds in my favor.

Leland Bruce

I recall as an aspiring Little League all-star my father taking me out to the school yard daily to throw painted hard balls at me and command that I scream the color of the paint as I swung at his mighty fastball. Try having a dad that is 6’6” and throws a fastball at 80 mph at you when you are still finger painting in 4th period and have feelings of exhilaration for 6th period Spelling Bee’s. Talk about strategy! My dad was just putting the numbers in his favor to ensure that his son could hit a fastball. Excellent execution of a flawless strategy except for the night sweats that I have had for the past 40 years as I see orange, red and blue colored Rawlings hardballs flying past my head while my feet are cemented into the batter’s box!

Yes, I love baseball because one of the key concepts in baseball is to keep your eye on the ball. This artful concept works in politics as well, but since campaign managers wish to employ strategy to control the outcome of the game, oftentimes we are led to take our eye off of the ball. President Obama and his legion of campaign managers, media hacks and public puppet followers are doing all within their power to divert our eyes from the ball and maintain our focus on the pretty new uniforms, the front office, the visiting team and most of all ‘free cap’ night. Free caps for everyone! Hey, that guy has 2 caps! Give me one of yours! Pay your Fair Share! But I bought this one with my own money yells the capitalist fan. Your money is my money comes the reply.

I realize that I am 5,500 miles from home plate, but I cannot believe what I read on print media and what I hear on news outlets. Talk about taking your eye off the ball. Bain Capital? Hey Axelrod, get that one out on our news outlets and see if it sticks. Sorry Barry but Bill Clinton just praised the private equity industry! If that’s his ploy for Hillary 2016 I’ll have his head he screams from Honeywell. OK, retraction, Bill just said you will win by a landslide…. Ann Romney’s blouse? Governor Romney’s record as Governor? The Republican war on women? Dog vacations? 50 year old high school pranks? Willard Romney’s birth certificate? Donald Trump visits? Pay your fair share? Romney doesn’t relate to the middle class? I have eaten cotton candy at the ballpark before but the hyperbole spewing forth from these minions has more air and artificial syrup in it than you could fit into the San Onofre nuclear power plant. Don’t say nuclear Jay Carney, the Left hates that word. I cannot wait for the religious barbs, the man is too handsome, he was a draft dodger, his boys served “Mormon” missions, Ann doesn’t work (Oops, already floated that one and got slammed…… “I know three Hilary Rosen’s; to which do you refer” says Jay Carney… Seriously Mr. President, you didn’t see that question coming?). Mark my words, these curve balls will be forthcoming and will not strike home. Unfortunately for Mr. Obama, the Romney camp and most Americans have their eye on the ball. And I don’t really care what color that Rawlings is painted or how fast it is hurling toward home plate. The message on the ball is simple:

The Economy.

I have to hand it to the Obama administration. They play smart. When your middle relief pitching breaks down you have got to go to your closer and put strategy back in your favor. For those of you who don’t know, this administration only has one closer. It’s called the Bureau of Labor Statistics (“BLS”) and this supposed non-partisan group holds in large part the future of Sir Debt Accumulator in their hands. You see it’s this group that produces the unemployment figures every month as we all anxiously hold our breath to see what falsified number they will actually produce. Unfortunately for Team Obama, the BLS has been more like Mitch Williams of the 90’s as a closer than Mariano Rivera of the 00’s. And much like Rivera’s torn ACL which will impact the Yankees run for the pennant this year, the BLS could become Obama’s Achilles Heel before November. Not that he hasn’t tried to pay off the umpires, hide sandpaper in his mitt (wow what a play on words) or pray for a rain out because he has. Well, maybe not the pray part because he usually golfs on Sundays. Sorry I digress. But yes it’s true, the BLS has been warming up in the bull pen for the past several months and you can bank on the idea that Team Obama will give them the ball at the end of the game. It’s really the only way that they have any chance to win the game. Let me explain…. (more…)

Unemployment UP, Romney Hits With New Ad, Bill Clinton Praises Romney’s Business Career

UPDATE! Mitt Romney responds to today’s dismal jobs report:

ANOTHER MONTH OF DEVASTATING ECONOMIC NEWS FOR AMERICAN WORKERS, FAMILIES

Today’s weak jobs report is devastating news for American workers and American families. This week has seen a cascade of one bad piece of economic news after another. Slowing GDP growth, plunging consumer confidence, an increase in unemployment claims, and now another dismal jobs report all stand as a harsh indictment of the President’s handling of the economy. It is now clear to everyone that President Obama’s policies have failed to achieve their goals and that the Obama economy is crushing America’s middle class. The President’s re-election slogan may be ‘forward,’ but it seems like we’ve been moving backward. We can do so much better in America. That’s why I’m running for president.” –Mitt Romney

UPDATE 2 - You don’t want to miss Governor Romney’s excellent interview on CNBC this morning. The video also includes traders’ reaction to The Gov’s interview. See video here (article here). More here.

Photo by Justin Sullivan / Getty Images North America



The U.S. Dept. of Labor today released the jobs report for April. Not good, folks.

155,000 jobs were hoped for; only 69,000 jobs were added to the U. S. economy last month. Unemployment has risen to 8.2%. At the first of the year, we were barely breathing at around 200,000 jobs created per month. In April, that number was almost cut in half at around 100,000 jobs created. (Numbers for March and April were revised to reveal unemployment was more prevalent than originally reported.) We are weak and getting weaker. Today’s numbers are almost halved again. Long-term unemployment jumped up by 300,000 last month, as well. Factoring in the UNDER-employed, the real number is at 14.8%. The labor participation rate is clinging to 63.8%, meaning 36.2% are not participating; they’ve given up.

Obama’s economic policies just aren’t cutting the mustard and Americans are not only sick with worry, they’re furious.


Romney for President keeps churning out timely, hard-hitting web ads. Today, they released a new web video using footage from Governor Mitt Romney’s press conference yesterday near Silicon Valley in Fremont, CA. (The image of Romney standing front of bankrupt Solyndra spoke volumes.)

In case you’ve forgotten:

The Obama Administration loaned $535 million to Solyndra – which later went bankrupt and laid Off 1,100 employees. “In a blow to the Obama administration’s efforts to create green jobs, solar-cell maker Solyndra announced Wednesday that it will close its remaining Fremont factory, lay off its 1,100 employees and file for bankruptcy. The news marked an abrupt end for a company once considered among the most innovative in a fast-changing industry. The bankruptcy also represents a high-profile failure for a federal stimulus program that gives loan guarantees to green-tech manufacturers. Solyndra was the first company to win one of the guarantees, receiving $535 million in 2009 to build its second factory in Fremont less than a mile from the company’s original plant.” (David R. Baker and Carolyn Said, “Solyndra Closes Fremont Plant – Stimulus Hopes Dim,” San Francisco Chronicle, 9/1/11)

Romney’s new video is aptly titled Symbol of Failure:

Two years ago, President Obama went to Solyndra and touted it as an example of his initiative to create jobs. Today, the company is bankrupt and the building stands empty as a symbol of the failure of President Obama’s policies.

Click here and donate to the campaign to help them fund more commercials of events like this one.

Free enterprise to the president means taking money from the taxpayers and giving it freely to his friends. ~ Mitt Romney, press conference May 31, 2012


Did you happen to watch CNN last night? Former President Bill Clinton was speaking with Harvey Weinstein when he kicked the legs out from under Obama’s main campaign strategy to slice and dice Romney’s record as a businessman:

So I don’t think that we ought to get in the position where we say this is bad work, this is good work. I think, however, the real issue ought to be what has Governor Romney advocated in the campaign that he will do as president? What has President Obama done and what does he propose to do? How do these things stack up against each other, that’s the most relevant thing. There’s no question that in terms of getting up and going to the office, and you know, basically performing the essential functions of the office, a man who has been governor and had a sterling business career crosses the qualification threshold.”

Thanks for the straight talk, Bill!

UPDATE – Speaking this afternoon on Your World with Neal Cavuto (FOX News), former Democratic pollster Pat Caddell said “Clinton has just done enormous damage to President Obama. … He has just put a torpedo right into the Obama campaign. This is as bad as it gets.


Townhall’s Mona Charen pretty much summarizes it for me today. She writes about the “straws in the wind” Obama campaign – how bad it’s going. She can add today’s stuck-in-the-mud jobs report to her list.

- Jayde Wyatt

Twitter follow: @YayforSummer

Romney Ad: Economy Slows, American’s Suffer in Silence (VIDEO), Desperate for Disability Benefits


I wrote about April’s pitiful job report when it was released on Friday; but there’s more…

Not only did 342,000 frustrated Americans drop out of the labor force last month – because they couldn’t find work – 65.8% of them felt so desperate they pulled a Hail Mary. 225,000 workers applied for Social Security disability benefits in April. And, 40 % of those applicants were accepted:

Almost 90,000 workers enrolled in the program in April, pushing the total for new enrollees above 333,000 in the first four months of the year.

Add in spouses and dependents, and the number of beneficiaries added to the program so far this year climbs to 539,000.

As IBD reported recently, more than 5 million workers and their families have enrolled in the disability program since President Obama took office.

● The Preezy of the United Steezy’s own economic advisers were sounding the ‘disability warning bell’ last fall:

The Obama administration’s economic advisers warned in a report last fall that the mass exodus of workers who can’t find a job onto the disability rolls poses a long-term risk to the economy. Once enrolled, they almost never return to the active workforce. This can, the report said, result “in a loss to society of the economic contribution those workers could have made.”

Not only do those on our swelling disability rolls not contribute to the economy, working Americans end up paying for their retirement.

Keep in mind if the labor force had NOT declined, April unemployment would be at 8.3%, instead of 8.1% as reported. If our labor force participation rate was the same as it was in June 2009, unemployment would be at 11%. Factor in the underemployed – those working part-time who want full-time work and the number is around 17%.

● Yesterday, President Obama launched his campaign for four more years in the White House by exhorting Americans to not ask if they are better off than they were four years ago, but – if they reelect him – how they’re going to be tomorrow. Today, Romney for President took a good punch at Obama’s reelection rhetoric in a new video ad. Here is Silence:

● An article in Friday’s Wall Street Journal examines some of the reasons behind America’s rapidly shrinking labor force:

[T]he recent fall is so sharp and surprising that aging baby boomers can’t be the entire reason. Another explanation is surely the slow pace of job growth, which means fewer opportunities to entice what economists call the “marginal” worker back into the labor force. Older workers who’ve lost a longtime job may find themselves unemployable in a rapidly changing economy. They may retire earlier than they might have preferred.

Second earners in a household may also not find work at a high enough wage to justify the costs of commuting or child care. In a recovery that is really cooking, like the Reagan boom, these workers find that the opportunities reward more work. In today’s mediocre expansion, not so much.

That’s especially true when stagnant wage growth means less reward for the effort. Over the past 12 months, average weekly earnings are up 2.1% but inflation has climbed by 3%. Real pay is rising far too slowly, which makes work less attractive.

The Federal Reserve has maintained a super-easy monetary policy in the name of reducing the jobless rate and to reflate the housing market, but this has contributed to higher food and energy prices and thus reduced real income gains. This too is a disincentive to work and undermines one ostensible purpose of the Fed’s easing.

● What begins as a helping hand morphs into a hammock…

Another culprit may be the rapid expansion of government transfer payments during this recession. Medicaid, disability payments and food stamps have all risen sharply in recent years, starting under President Bush and accelerating under President Obama.

This is a particular disincentive to low-skilled workers to enter the job market because in some high-benefit states they need to earn $30,000 or more to compensate for the benefits they lose. This is an insidious high marginal tax rate that deters many from ever acquiring the basic skills and experience they need to move up the income ladder.

● An important reason why this nation needs PRESIDENT Romney:

Reversing this falling labor force trend is a major policy challenge, especially as more of the baby boomers retire. The U.S. will need more workers to finance more retirees. This will require faster growth and more job creation than we’ve seen in this disappointing recovery.

The tragedy of the Obama Administration is that it put the political pursuit of its social welfare agenda above policies to nurture a strong, durable economic expansion. Americans are paying for that mistake in less work and less reward for the work they get. The priority of the next Administration must be to reverse the decline.

(emphasis added to articles)

Obama believes he deserves four more years…

No!

America deserves jobs.

America deserves a leader who will end the suffering.

America deserves Mitt Romney.

► Jayde Wyatt

Romney: April Jobs Report “Terrible and Disappointing” (Video)

The U.S. Labor Department shared discouraging news this morning.

In the month of April only 115,000 jobs were added to our economy. Economists had projected an increase of 160,000-170,000 jobs. This is a worrisome downward development.

The labor market data confirms that the economy gained little momentum over the past six to nine months,” said Steven Ricchiuto, chief economist at Mizuho USA.

At the same time, April unemployment dropped from 8.2% to 8.1%.

Why?

More people have thrown in the towel and dropped out of the labor force. They gave up.

Statisticians don’t include the ‘giver-uppers’ number in their unemployment data. Get this… 342,000 Americans stopped looking for work last month. The labor participation rate is the lowest its been since 1981. That’s a new 30 year low of 64.3%.

We’ve got a new American demographic – job-search drop outs:

● Mitt Romney was a guest on FOX & Friends this morning. Along with the foreign policy topic of Chinese dissident Chen Guangcheng and the Richard Grenell resignation, host Gretchen Carlson asked Romney about the latest jobs report:


We should be seeing numbers in the 500,000 jobs created per month. This is way, way, way off from what should happen in a normal recovery.

It’s a terrible and very disappointing report this morning.

The President, in his first year in office, said that he would hold unemployment below 8% and we’ve had 38 straight months unemployment above 8%. This is the longest period of high unemployment that we’ve seen since we started collecting these records back in 1948. It’s a terrible record and it shows that the President’s policies have simply not worked. It’s taken far too long for our economy to recover.”- Mitt Romney

Additional jobs report data:

● Long-term unemployment continues to be a problem. The average unemployed American has been without work for 39.1 weeks, or about nine months. Over 40 percent of the unemployed have been out of work for more than six months.

● There are 7.9 million people working part-time involuntarily.

John Silva, chief economist at Wells Fargo added his thought on our shrinking labor force dilemma: “If there are less people working, then your potential for what the economy can produce is reduced.”

Look at the 86 million invisible unemployed:

Fifty percent of kids coming out of college can’t find jobs or work equal to their skills. Home prices, factory orders, retail sales, and construction orders are down.

Veteran White House reporter Keith Koffler wrote this today:

But the trend is clearly downward. This is a huge setback for the president, and if things don’t improve soon, a very bad omen for his reelection prospects. They’ll spin the 8.1 percent number at the White House, but they know they have a problem.

At this point in a recovery, the economy should be pumping out jobs. Something is very wrong, and the president … has no idea what to do about it.

(emphasis added)

By Lisa Benson - May 3, 2012

[I]f April is indicative of the new normal, and winter was a blip, we won’t erase the gap until the 2030s. Spin today’s numbers how you’d like, but that’s a future nobody should hope for. – Derek Thomson, senior editor, The Atlantic

UPDATE – Check out Team Obama’s spin: President Obama’s Low Bar For “Good News”




► Jayde Wyatt

Stagnant Jobs Report: Eight Years of Obama? Romney Says No


Today’s job report shows that unemployment is at 9.1%. Is that good news?

14% of small businesses laid off employees last month and they don’t plan to re-hire or expand. The number of workers who have stopped working and those who are engaged in part-time work, who want full-time work, push the job report numbers to 16%.

46 million Americans are on food stamps, the highest number in U.S. history, up 20 million from 2008.

Yesterday, the meltdown of the stock market saw the Dow Jones Industrial plummet 513 points – spooking investors across the world. The news today that hiring had slightly picked up in July caused the stock market to open higher this morning, but those gains were wiped out in just 25 minutes. Later in the day, only when the Italian Prime Minister unveiled an ambitious plan to help his beleaguered nation, the markets came up for a breather.

Here’s some of what Larry Doyle, (Business Insider), has to say:

Not so fast.

Let’s peel the onion a little deeper and get a real assessment of the health of our labor situation. To do that, let’s skip the verbiage provided by pundits and politicians and look at the hard numbers as provided in the Employment Situation Summary produced by the Bureau of Labor Statistics.

What do we learn? Are you sitting down?

The labor participation rate continues to decline. This measure of people who are either employed or actively looking for work declined last month from 64.1% to 63.9%. Why? People are so discouraged that they have given up looking for work.

Please scroll to the bottom of the report to which I linked. We witness that the number of discouraged workers rose from 982, 000 in June (822, ooo in May) to a whopping 1,119,000 last month.

We had an increase of 137,000 discouraged workers last month and 297,000 discouraged workers over the last two months. Juxtapose those figures next to the increase in the non-farm payroll of 117,000 workers last month.

No, we did not hit a triple with this report. In fact, when we incorporate the discouraged workers into our review my ‘sense on cents’ indicates to me that our situation actually worsened.

(emphasis added)

Jobs Report: Too Little, Too Late?

Romney tweets:


When you see what this president has done to the economy in 3 years, you know why America doesn’t want to find out what he can do in 8less than a minute ago via web Favorite Retweet Reply


Today’s unemployment report represents the 30th straight month that the jobless rate has been above 8% http://t.co/b5q8R0l #ObamaIsntWorkingless than a minute ago via web Favorite Retweet Reply



Reports show that the nearly 13.9 million unemployed have been without work for seven months or longer. The slight decrease in today’s numbers today are deceptive because 200,000 Americans simply quit looking for jobs; they form a new category – ‘discouraged workers’.

Analysts say that the 117,000 jobs created in July doesn’t keep up with population growth; 130,000 jobs are needed to keep pace. Even if 175,000 jobs were consistently created each month, the USA wouldn’t return to 5% unemployment until 2018.

UPDATE: S&P downgrades U.S. credit rating for first time!

Standard & Poor’s announced Friday night that it has downgraded the sterling U.S. credit rating for the first time.

The move came even though the Treasury Department said that it had found a math error in the firm’s calculations of deficit projections, according to a person familiar with the matter.

S&P decided to lower the AAA rating, held by the United States for 70 years, to AA+ after a bipartisan debt deal signed into law this week failed to assuage concerns about the nation’s growing spending.

Analysts have said a downgrade could increase the cost of borrowing for the U.S. government and lead to tens of billions of dollars in more interest costs per year. That could translate into higher borrowing for consumers and businesses, too.

UPDATE 2 – Romney tweet:


America’s creditworthiness just became the latest casualty of President Obama’s failed leadership on the economyless than a minute ago via web Favorite Retweet Reply




Obama isn’t working.

Time for Mr. Turnaround – Mitt Romney.

► Jayde Wyatt