Friday, July 6, 2012

BloggeRhythms 7/6/2012

If the coming presidential election truly depends primarily on employment, Mitt Romney’s surely going to unseat the incumbent.

I know that because according to the U.S. Labor Department “The economy has added just 75,000 jobs a month in the April-June quarter. That's one-third of 226,000 a month created in the first quarter. Job creation is also trailing last year's pace through the first six months of 2012.”

The unemployment rate itself remained unchanged at 8.2%.

However, although the numbers themselves bode badly for the administration, the odds are that they’re going to get far worse. Because it’s extremely doubtful the trend can be reversed.

During the last quarter, most businesspeople thought that SCOTUS was going to overturn the president’s new health care law, thereby improving their outlook. Now they’re still stuck with the problem. There was also some hope for progress for the Keystone oil pipeline construction, heading toward toward lower costs of fuel. But that hasn’t happened yet and likely won’t occur soon.

Add to those two huge anti-growth mistakes, the continuing trend toward strangling regulation, rising tax rates and ongoing attempts to redistribute hard-earned income. All of which clearly insure that the unemployment rate will rise some more in the coming months.

So, while pundits mumble and grumble that Republicans have no specific plans that guarantee future improved results, they don’t really need one. Because all they have to do is reverse or annul all that’s been done by the current administration and the nation’s economy will correct itself.  

That's it for today folks.

Adios

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