New Jobs Report
As usual, the first Friday of the month means a jobs report will be released from the federal government. Today, the Labor Department is reporting that the economy added 165,000 jobs in April, which brings the unemployment rate down to 7.5%, a four year low.
What does this mean? Well, it means that President Obama and Congressional Democrats are correct, and have been all along. In the wake of the most severe economic collapse since the 1920s, it is not enough to say that government will cut taxes and spend less. Reality is the exact opposite, less government involvement in the economy is what brought about the recession. Deregulated markets and unfettered capitalism plunged this country into recession and Republicans are still proposing those same failed and bankrupt policies (which they have been preaching for decades). In a time of recession, it is the job of government to pave the way for a recovery; its that simple. This newest jobs number vindicates the stimulus and every other investment by the government in its people.
Now, just imagine for a second that Republicans weren’t obstructionists in the most perfect and annoying sense of the word. President Obama’s countless jobs bills would have been passed and the unemployment rate would be much lower than it is now. Well, it’s something to hope for!