Mitt Romney tantalized voters with the prospect of getting the unemployment rate down to 6% by January 2017.
Instead, we reelected Barack Obama and — despite the Republican Congress’s refusal to put Americans back to work revitalizing our infrastructure — have enjoyed 76 consecutive months of private sector job growth, with the unemployment today reported at 4.9%.
And wages are finally even beginning to climb a bit.
Donald Trump . . . who suffers from Narcissistic Personality Disorder* . . . calls the economy (and our military) disasters, even though both are the strongest in the world. “Roughly an hour before the U.S. government’s release of the monthly employment report,” Bloomberg notes, “the Republican presidential nominee announced a team of economic advisers to help carry his message forward that the economy is deteriorating and needs another rescue.”
Trump says he would bring millions of 50-cent-an-hour jobs back from China and — even though he opposes a higher minimum wage — somehow transform them into high-paying jobs.
It makes absolutely no sense.
It is a complete fantasy.
And judging from the polls, people seem to be catching on.
Joe Kennedy sent his son that famous telegram about not wanting to pay for a landslide. Well, we DO want to pay for a landslide: to reassure the world America has not lost her mind; and to take back Congress, so we can finally do the things the public wants — revitalize our infrastructure, hike the minimum wage, enact comprehensive immigration reform, require universal background checks, confront climate change, make it easier — not harder — to vote.
*An “enduring pattern of grandiose beliefs and arrogant behavior together with an overwhelming need for admiration and a lack of empathy for (and even exploitation of) others . . . excessive self-love, egocentrism, grandiosity, exhibitionism, excessive needs for attention, and sensitivity to criticism.” — International Classification of Diseases (h/t Linda Stasi)
Quote of the Day
A penny saved may be a penny earned, but it's one boring penny. A penny invested, on the other hand, bounces around. It gets bigger one day, smaller the next. A bit player in the drama of global finance, that penny buys a guy a balcony seat in the theater of macroeconomics.~Susan Stewart
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