Suitably Flip

Economic Lilly Officially Gilded

Golly Moses!

The unemployment rate dropped to a five-year low of 4.4 percent in October as employers added 92,000 new jobs -- flashing a picture of a strong labor market as the midterm elections draw near. ... It marked the third month in a row that the politically prominent jobless rate declined.
...

Friday's report provided the last snapshot of the nation's employment scene before next week's elections.

If you've sat through any Democrat candidate's rebuttal about the strength of the national economy recently, it invariably rested on the flimsy and unsupported contention that the economy may be doing well, but that wages haven't been moving up (it's only oil barons and fat cats that enjoy the spoils, you see).

Well...

Workers saw solid wages gains last month.

Workers' average hourly earnings climbed to $16.91 in October, a sizable 0.4 percent increase from September. That increase was bigger than the 0.3 percent rise economists were expecting. Over the last 12 months, wages grew by 3.9 percent.

The path of unemployment since the investment income tax cuts were implemented in mid-2003 is simply astonishing.

These are the cuts that Pelosi, Rangel, and company want to nix (er, "roll back") by letting them expire.  If they care a wit about the working Americans they pander to with minimum wage proposals, they'll re-shoe the class warfare card and finally acknowledge the plain naked truth that these pro-growth economic reforms have benefitted our country up and down the economic spectrum and that we have stellarly weathered costly oil, natural disasters, geopolitical unrest, and terrorist threats, largely thanks to the newfound robustness these cuts have lent our economy.

Somehow though, I don't think I trust Nancy and Chuck to rise to such intellectual honesty.  I suspect their appetites for pride are insufficient to swallow this one, meaning we can likely expect nuanced doom and manufactured gloom about our economic prospects, even following this latest report.  Rather than trusting them to come to their economic senses, let's just make sure we don't entrust them with the economic reins on Tuesday.  It's all well and good for them to talk crazy, but if crazy takes the helm, it's destination: malaise.

Comments

Economic Lilly Officially Gilded

Golly Moses!

The unemployment rate dropped to a five-year low of 4.4 percent in October as employers added 92,000 new jobs -- flashing a picture of a strong labor market as the midterm elections draw near. ... It marked the third month in a row that the politically prominent jobless rate declined.
...

Friday's report provided the last snapshot of the nation's employment scene before next week's elections.

If you've sat through any Democrat candidate's rebuttal about the strength of the national economy recently, it invariably rested on the flimsy and unsupported contention that the economy may be doing well, but that wages haven't been moving up (it's only oil barons and fat cats that enjoy the spoils, you see).

Well...

Workers saw solid wages gains last month.

Workers' average hourly earnings climbed to $16.91 in October, a sizable 0.4 percent increase from September. That increase was bigger than the 0.3 percent rise economists were expecting. Over the last 12 months, wages grew by 3.9 percent.

The path of unemployment since the investment income tax cuts were implemented in mid-2003 is simply astonishing.

These are the cuts that Pelosi, Rangel, and company want to nix (er, "roll back") by letting them expire.  If they care a wit about the working Americans they pander to with minimum wage proposals, they'll re-shoe the class warfare card and finally acknowledge the plain naked truth that these pro-growth economic reforms have benefitted our country up and down the economic spectrum and that we have stellarly weathered costly oil, natural disasters, geopolitical unrest, and terrorist threats, largely thanks to the newfound robustness these cuts have lent our economy.

Somehow though, I don't think I trust Nancy and Chuck to rise to such intellectual honesty.  I suspect their appetites for pride are insufficient to swallow this one, meaning we can likely expect nuanced doom and manufactured gloom about our economic prospects, even following this latest report.  Rather than trusting them to come to their economic senses, let's just make sure we don't entrust them with the economic reins on Tuesday.  It's all well and good for them to talk crazy, but if crazy takes the helm, it's destination: malaise.