The 9.6 percent unemployment rate and the 2010 midterms

September 3, 2010

Today’s dismal unemployment report fully locks in the autumn political narrative:

1) Democrats will a) say the job numbers show a slowly recovering economy back from the brink, b) ask for voter patience, c) blame Bush and d) charge Republicans want to kill Social Security.

2) The GOP will say the report shows Obamanomics has failed,  surely (again) highlighting the infamous Romer-Bernstein unemployment prediction.

3) President Obama also seems unlikely to propose any new ideas that would be economic gamechangers. (The WH pushed back hard on media reports that it is considering a $300 billion payroll tax cut.)

4) More likely is a smattering of smaller ideas that Democrats can use to depict Republicans as obstructionists.

5) I would also guess nothing gets done on the expiring Bush tax cuts until at least after the election.

One comment

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Yes it is true that US came out of recession and unemployment rate is coming down, but the rate is still slow. Barack Obama is thinking of new ideas to work upon to come out of this disastrous situation of unemployment rate. Sooner or later it’ll be possible to come out of it. From the last 4-5 months stock market is fluctuating and the rate of interest is also low.

Posted by Nikkilarsson | Report as abusive