Turning on a Dime

It was only a few weeks ago that the Bush administration did a 180 away from trumpeting their foreign policy "successes" and toward the economy, which had sustained job growth for 3 straight months, after the loss of 3 million jobs from 2001-2003. We had ads about how America was getting back to work, we had economists exclaiming that the recovery was complete, the Fed even raised interest rates for the first time in four years to try and "slow down" the breakneck economic pace. And the President was crowing about the "record" growth in the labor market.

Well, today's jobs report for June shows anemic growth, a net gain of under 100,000 jobs, when in fact you have to gain around 150,000 a month to keep up with the maturation of the work force. In fact, the unemployment number has not changed all year, holding rock steady at around 5.6%, and of course that doesn't include those whose benefits have run out. So are the Bushies still talking about that amazing growth?

WASHINGTON -- President Bush, defending his handling of the economy as he seeks a second term, told a White House audience: "We don't need a boom-or-bust type growth."

"The economy of the United States has been through a lot," Bush told a group of business executives at the White House in late morning. "It's remarkable to be able to stand up and say to you that our economy is strong and getting stronger."

"We're witnessing steady growth and that's important," he said. "We want just steady consistent growth so that our fellow citizens will be able to find a job and so that the small-business sector will feel confident about expanding."

Short version: Did I say record growth? I meant steady growth. As long as there aren't bread lines, we're OK, right? Right?

By the way, I've always suspected where these new jobs were coming from. Here's one answer:

Temp firms have added 306,000 new jobs since April 2003...

Isn't it great to be an American? Ah, the land of opportunity... the opportunity to wear ill-fitting ties and file forms in a cold office where you don't know anyone for 8 hours a day. The only difference between temping and prostitution is that, as a hooker, at least you get to keep a little of your self-respect.

P.S. Anyone see Colin Powell singing YMCA in Indonesia today? Does this mean Powell is part of that homosexual agenda? Boy, he is out of touch with the Administration.