Friday, July 04, 2008

The Economy, Stupid

Tankwoman's post about the declining stock market was on my mind this morning when I read this in the NY Times:

The nation’s employers eliminated tens of thousands of jobs in June for the sixth consecutive month in a steady chipping away of the work force that seems likely to leave the economy very weak through Election Day.

[snip]

“The numbers are telling us that there is an ongoing deterioration in the labor market at a relatively rapid clip,” said Jan Hatzius, chief domestic economist at Goldman Sachs. “It is a sign that the fiscal stimulus, the tax rebates, are failing to lift the broader economy.”

Apart from the 62,000 jobs eliminated in June — and 438,000 since January — most workers lost ground to inflation last month, the Bureau of Labor Statistics reported. While the average weekly wage of most ordinary workers was up 2.8 percent in the 12 months through June, the Consumer Price Index was up more than 4 percent.
Come November, people are going to be voting on basic pocketbook concerns - short of a terrorist attack here at home, it seems likely that economic security, rather than national security, may be the driving force in this election.

It's the economy - again, stupid.

posted at 4:09:00 PM by Neil

| +Save/Share | |

Links to this post:

Create a Link




FEATURED QUOTE

"It is the logic of our times
No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."


-- Cecil Day-Lewis from Where Are The War Poets?


ABOUT US

  • What is the Blue Voice?
  • Bruce Miller
  • Fdtate
  • Marcia Ellen (on hiatus)
  • Marigolds2
  • Neil
  • Tankwoman
  • Wonky Muse

  • RECENT POSTS

  • The sixties: Tom Wolfe and "Radical Chic"
  • Independence Day
  • Gabriel Kolko's Anatomy of a War
  • How Low Will it Go?
  • Lady Liberty
  • A Few Words in Defense of Our Country
  • American Tune
  • The BBC on "Jesus Camp"
  • The Jesus Camp movie
  • Stay the Course? Really?

  • ARCHIVES




    RECENT COMMENTS

    [Tip: Point cursor to any comment to see title of post being discussed.]
    SEARCH THIS SITE
    Google
    www TBV

    BLUE'S NEWS





    ACT BLUE











    BLUE LINKS

    Environmental Links
    Gay/Lesbian Links
    News & Media Links
    Organization Links
    Political Links
    Religious Links
    Watchdog Links

    BLUE ROLL


    MISCELLANEOUS

    Atom/XML Feed
    Blogarama - Blog Directory
    Blogwise - blog directory

    Blogstreet
    Haloscan


    Blogger

    hits since 06-13-2005

    site design: wonky muse
    image: fpsoftlab.com