Quote:
Originally posted by sgtclub
Of course it is, but that is not the discussion we were having and the macro few is far more important both to those people and the country as a whole.
Another related point. It is unlikely we will hit the low unemployment numbers we had during the bubble anytime soon. Those numbers were a blip on radar screen. Instead we will steadily add net jobs over the course of the next year. Maybe it will be 60k/month, maybe 200K/month, we will have to see. But in any event, the Democrats will still be able to claim, and will claim, a net loss in jobs under Bush. This will be true even if we get down to historically good numbers (say 5.2%), because they will still be higher than under Clinton.
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I would like to think that this stuff is important in its own right, although I do recognize that this is the politics board. I have my own selfish reasons for wanting the economy to improve. OTOH, this Admininistration has taken a cynical strategy of doing things that will not help the economy particularly out of ulterior motives, and then hoping to claim vindication from the natural functioning of the business cycle. It would be irritating to see it work, as a political matter, since few self-respecting economists can try to justify the policies on their merits.
edited to add: You still seem to be missing the point that, because of demographic realities, adding 60,000 jobs in a month is not a net gain.
