Home Budget, Economy Thanks to Democratic Policies, Economic Recovery Continues to Pick Up Steam

Thanks to Democratic Policies, Economic Recovery Continues to Pick Up Steam

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The New York Times reports some great news this morning:

The United States added a robust 200,000 new jobs last month, the Labor Department said Friday, in a sign that the long-awaited economic recovery has finally built up a head of steam.

The nation’s unemployment rate fell to 8.5 percent in December, from a revised 8.7 percent in November, the government said. The Labor Department revised the number of new jobs added in November to 100,000, from 120,000.

With that, the U.S. unemployment rate is now just about where it started when President-elect Obama inherited an economy in freefall when he took office in late January 2009. If we look at the unemployment rate since the economic recovery act started really kicking in (note that it was passed with no Republican support) – several months or longer for many of the infrastructure projects to get going – and when one considers the huge, negative momentum the Republican Recession had going when President Obama took office, today’s unemployment rate is now significantly below where it was back in early-to-mid 2009 (around 9.5% then, 8.5% now). And remember, all of this has come in spite of constant Republican attempts to water down or derail economic recovery efforts, to talk down the economy (even this morning, the head of the RNC is doing just that), and to ensure that Obama’s presidency “failed.” Well, sorry Republican’ts, but the only thing that’s going to fail, come November 2012, is your chances of being elected. That is, if the American people want to keep the economic recovery going, and not send us right back into the ditch Republican’ts drove us into in the first place. Tough choice, huh? (not)

  • Jim B

    Wonder if the trend continues will the repugs balk at extending the lower payroll tax next month. Sure they don’t want the economy to get any better heading into elections.

  • Statement of Tim Kaine on December Jobs Report

    Richmond, VA -Governor Tim Kaine released the following statement on the Bureau of Labor Statistics’ monthly report showing that the U.S. unemployment rate dropped from 8.6% to 8.5% in December, the lowest level since February 2009.  The BLS says the U.S economy added 200,000 jobs in December, raising the total jobs added in 2011 to 1.6 million.

    “I am encouraged by the positive momentum that is evident in the December jobs report, but I am still not satisfied with the pace of our economic recovery. 200,000 jobs is wonderful news for families across America, but we still have a long way to go until we have sufficient job opportunities for all of our men and women who are seeking work.

    “As we move forward, Congress must encourage and protect this fragile recovery. This means finding common ground on measures that will encourage growth while avoiding the partisanship and brinksmanship that cause real economic uncertainty and undermine confidence in Washington’s ability to get things done. Our leaders in Washington must also work together to reduce our deficit in a balanced way while still investing in the areas that will ensure the United States is the global leader of the 21st century talent economy. By investing in things like education, workforce training, and infrastructure, we will create jobs immediately while raising the platform for our future economic success.”