The 9.6 percent unemployment rate and the 2010 midterms
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.