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Tuesday, December 7, 2010

Obama's Ridiculous Political-Economic Gamble

HOPE THAT EXTENDED TRIP TO ASIA AND SHOWING FACE IN LISBON WAS WORTH THE COST IN TIME NOT SPENT ON THE DOMESTIC AGENDA

If the President thinks he just bought the election by putting jobs first and making sure that the recovery will give him "good times" in which to campaign, he might want to check that with his not-so-crack-liberal economic team:

The AFL-CIO reminded readers in a statement ... that "some 150,000 new jobs a month are needed just to keep pace with the growth in the labor force, and a stunning 11 million jobs must be generated to return to pre-recession employment levels."


There will not be an era of good feeling in 2012, in all likelihood. Even the housing market overhang will not likely be lifted, as millions of bankruptcies and the ever climbing standards to get home financing from Fannie and Freddie shut people out of the housing markets, for years (refinance or sale/purchase).