Unemployment rate takes biggest jump in 22 years

[Steve Henderson]

Article (http://money.cnn.com/2008/06/06/news/economy/jobs_may/index.htm?cnn=yes)

Presidential candidates Barack Obama and John McCain were both quick to react to the report. Each argued that the dire employment picture was proof that they had the best solution for the nation's economy, and that their opponent's policy would be a mistake.


"This is a reminder that working families continue to bear the brunt of the failed Bush economic policies that John McCain wants to continue for another four years," said Obama's statement. "We can't afford John McCain's plan to spend billions of dollars on tax breaks for big corporations and wealthy CEOs."
McCain's statement argued that tax breaks are more important to spur the economy in the face of weak employment.


"The wrong change for our country would be an economic agenda based upon the policies of the past that advocate higher taxes, bigger government, government-run health care and greater isolationism," said McCain's statement. "To help families at this critical time, we cannot afford to go backward as Senator Obama advocates."

How the hell does McCain think he is right when all the evidence seems to be right in from of him? Bush's policies have aided the decline of the economy into recession. Obama is proposing a return to Clinton-era policy, where undoubtedly we were all much better off.

[salmarnirecho]

McCain and the rest of his party tend to ignore the evidence you speak of.

[Machu505]

Does anyone really think McCain will win?

[loveisdead]

Does anyone really think McCain will win?
Yes, unfortunately. That is unbelievable that he didn't even admit that Bush's policies didn't work, and is going to continue them in hope that people will believe things will get better. What a fucking joke.

[Machu505]

He says Obama would be going backwards, but wouldn't he too? I'll take the better "backwards."

[loveisdead]

He says Obama would be going backwards, but wouldn't he too? I'll take the better "backwards."
I don't think Obama would take us backwards. How far more backwards could we possibly go? It hasn't been this bad in 22 years, I'm fairly certain some changed policies would help improve things.

[Machu505]

Word.

[radiofriendly]

i'm confused. is the unemployment rate the worst it's been in 22 years, or did take the biggest hike in 22 years?

*EDIT: nevermind, highest since 2004 it says.

[nfggc10]

I like how republicans are against raising taxes and yet they keep leading us into more debt and conducting wars that we can't afford while the only plan they had in which to pay for it (oil) has backfired.

Does anyone really think McCain will win?I think it's about a 60% chance he wins. Even though he hopes to follow much of the failed policies from the Bush administration it doesn't seen like economic/environmental/etc. philosophies play much of a role in voting anymore. Also, the fear tactics that Bush used to win in 2004 will probably be good enough again to seal it. Then, when you throw in factors such as race and his relatively young age I would be surprised if he won.

I just find it weird that about 80% of the US population is not happy with the direction the country is going in and yet McCain is about even with Obama right now. This country never fails to amaze me.

[Machu505]

I think it's that 80% that makes me see Obama as the winner in November.

[nfggc10]

I think it's that 80% that makes me see Obama as the winner in November.That's what is scary at this point in the process. That that much of the population doesn't approve of what the current administration is doing and yet McCain is virtually getting 50% of the vote according to current polls.

[Machu505]

That's what is scary at this point in the process. That that much of the population doesn't approve of what the current administration is doing and yet McCain is virtually getting 50% of the vote according to current polls.

46% percent exactly, but some debates will probably shake that up.

[nfggc10]

46% percent exactly, but some debates will probably shake that up.Another thing that worries me is that the economy has proven to be the #1 concern and yet someone who claimed they didn't understand it (McCain) is still polling as well as he is. Even when I concede that people in their position use economists to help them to go as far as to say that you don't understand something as significant as that is pathetic.

[Machu505]

Bush/Cheney '08

[nfggc10]

Speaking of the future debates, I'm already dreading McCain's lectures on being a war veteran and how Obama isn't worthy of being on the stage since he didn't serve.

[Machu505]

War veteran =/= enough credentials to be president

[asmolitor]

maybe not, but i wonder what the correlation is between presidents and some sort of military service. especially republican presidents.

[loveisdead]

Speaking of the future debates, I'm already dreading McCain's lectures on being a war veteran and how Obama isn't worthy of being on the stage since he didn't serve.
What do you think of McCain's idea for the town hall meetings?

[nfggc10]

What do you think of McCain's idea for the town hall meetings?My main problem with them is the timing. Even though McCain tends to do better in smaller settings I think Obama would do fine. I just don't think starting them next week is the right answer. I'd rather give Obama time to breathe seeing as though he just finished the primary season and has been working so hard. McCain hasn't had to do anything for a few months so I'm sure he's eager to get his face back on tv.

[lauren<3s music]

Article (http://money.cnn.com/2008/06/06/news/economy/jobs_may/index.htm?cnn=yes)

Presidential candidates Barack Obama and John McCain were both quick to react to the report. Each argued that the dire employment picture was proof that they had the best solution for the nation's economy, and that their opponent's policy would be a mistake.


"This is a reminder that working families continue to bear the brunt of the failed Bush economic policies that John McCain wants to continue for another four years," said Obama's statement. "We can't afford John McCain's plan to spend billions of dollars on tax breaks for big corporations and wealthy CEOs."
McCain's statement argued that tax breaks are more important to spur the economy in the face of weak employment.


"The wrong change for our country would be an economic agenda based upon the policies of the past that advocate higher taxes, bigger government, government-run health care and greater isolationism," said McCain's statement. "To help families at this critical time, we cannot afford to go backward as Senator Obama advocates."


How the hell does McCain think he is right when all the evidence seems to be right in from of him? Bush's policies have aided the decline of the economy into recession. Obama is proposing a return to Clinton-era policy, where undoubtedly we were all much better off.

:rolleyes: higher taxes on the rich would allow the government to spend more on things such as health care which would provide the middle class relief. But sure we can't afford to go backwards.

UGH. the sad part is he'll probably win

[lauren<3s music]

Another thing that worries me is that the economy has proven to be the #1 concern and yet someone who claimed they didn't understand it (McCain) is still polling as well as he is. Even when I concede that people in their position use economists to help them to go as far as to say that you don't understand something as significant as that is pathetic.

People are easily swayed when economics are discussed because the average person just looks in their wallet and at the money being deducted from their paycheck. If everyone in the country could have like a one day macro tutorial, we'd be in a much better place. Instead McCain can throw out the "lower taxes" bullshit and people will say YES because they thing they're eligible when in fact Joe Worker is going to be taxed more to make up for Bob Millionaire's tax deduction. TRICKLE DOWN ECONOMICS DOESN'T WORK. God damnit. /rant

[open mind]

someone should let mccain know that arguing against past policies only makes sense to do when said policies had worse results then the present ones.

[Steve Henderson]

Haha, funny how everyone can agree on this. :)

[Tyler Dumont]

UGH. the sad part is he'll probably win

Is this what the general agreement is? I thought that everyone that has been supporting Obama all these months would generally think he'll have a chance at winning come November, but I keep seeing people now saying that McCain will probably win.

When I look at what he says and just everything about him, I don't really see him winning at all. Maybe that's just me?

[Machu505]

I don't think he'll win. I just don't think the American people will allow it.

[TheGoodnightMoon]

How anyone actually believes McCain will be in the white house next year is beyond me.

[Steve Henderson]

Is this what the general agreement is? I thought that everyone that has been supporting Obama all these months would generally think he'll have a chance at winning come November, but I keep seeing people now saying that McCain will probably win.

When I look at what he says and just everything about him, I don't really see him winning at all. Maybe that's just me?
It's not that people don't think Obama will lose, but rather that the Republican mantra is so entrenched in America that it will be hard to overturn. The whole culture of fear they have fostered has really taken a hold of the more ignorant people in the country, and little that a Democrat will say can dissuade them.

I hope, I really do - that I am wrong.

[open mind]

How anyone actually believes McCain will be in the white house next year is beyond me.

i don't see mccain winning but i had similiar thoughts on the chances of bush getting re-elected.

[nfggc10]

It's not that people don't think Obama will lose, but rather that the Republican mantra is so entrenched in America that it will be hard to overturn. The whole culture of fear they have fostered has really taken a hold of the more ignorant people in the country, and little that a Democrat will say can dissuade them.

I hope, I really do - that I am wrong.This is what I was going to say.

[nfggc10]

How anyone actually believes McCain will be in the white house next year is beyond me.Look at the current polling. Obama is within the margin of error ahead of McCain. The fact that other polls say that 80% of the US population is unhappy with the current direction of the country and yet it's that close should tell you what kind of people we're dealing with. Then when you add in how great Republicans are at winning elections and using fear to sway voters it's a very realistic possibility that McCain will win.

[Machu505]

I respectively disagree. Although McCain's gonna pull a Reagan and say he's more experienced, debates will most likely go to Obama. Citizens will see the facts and vote according to what they want for this country.

[lauren<3s music]

Is this what the general agreement is? I thought that everyone that has been supporting Obama all these months would generally think he'll have a chance at winning come November, but I keep seeing people now saying that McCain will probably win.

When I look at what he says and just everything about him, I don't really see him winning at all. Maybe that's just me?

obama has the best chance of beating mccain in my opinion and could well infact win the office. my only reason of doubt isn't because of his lack of appeal to rational people, but the impulsive reactions of the morons who can occasionally turn out in droves. here's hoping that the general public is actually willing to get off their asses for once and do something other than bitch

[nfggc10]

I respectively disagree. Although McCain's gonna pull a Reagan and say he's more experienced, debates will most likely go to Obama. Citizens will see the facts and vote according to what they want for this country.I guess you have more faith in this country than I do. Plus, we don't seem to use facts or what is in out best interest in voting booths anyway. I'm just hoping people realize how dire of a situation we're in and don't give into fear.

[nfggc10]

obama has the best chance of beating mccain in my opinion and could well infact win the office. my only reason of doubt isn't because of his lack of appeal to rational people, but the impulsive reactions of the morons who can occasionally turn out in droves. here's hoping that the general public is actually willing to get off their asses for once and do something other than bitchCompletely agree.

[Machu505]

Don't worry, be happy.

[Love As Arson]

Obama just commented on how he was a "free-market guy". This becomes problematic when one recognizes that the current economic crisis is a result of the market's inevitable tendency to boom and bust.

[Steve Henderson]

Obama just commented on how he was a "free-market guy". This becomes problematic when one recognizes that the current economic crisis is a result of the market's inevitable tendency to boom and bust.
Yes, but there are certainly things a president can to do regulate the swells.

[lauren<3s music]

Obama just commented on how he was a "free-market guy". This becomes problematic when one recognizes that the current economic crisis is a result of the market's inevitable tendency to boom and bust.

free market in this country isn't classic laissez faire mentality. the gov't will always intervene especially when the intervention costs lest than letting the market go unchecked.

[GiggsOho]

I guess you have more faith in this country than I do. Plus, we don't seem to use facts or what is in out best interest in voting booths anyway. I'm just hoping people realize how dire of a situation we're in and don't give into fear.


That's the thing, people do realize it -- and that's what scares them. I watched the news before going out on friday night -- and to sum it up it went like this "Economy sucks, Republicans boned the globe for another 2 years, its going to be hot as fuck all weekend, lets hope the horsey wins/doesn't die on the track." People are scared right now. And the number one thing that scares people is change. The fear in this country is going to cloud all rational judgment come election time.