Did Kudlow on Friday night, the topic, of course, being the really poor unemployment figures.
As I mentioned on the show, this doesn't compare well to the 5.7% forecast for May '12 if we only just passed the stimulus bill in Feb. '09. Awkward.
It's worse if you look at the readjustment to the last two months - both had to be adjusted downwards (No, really? We are shocked! shocked!), so subtracting out those fictional 49,000 jobs we thought were there but weren't, and assuming the present 69,000 number is itself accurate, we're down to 20,000 jobs created. Oops.
Not only has the rate ticked up to 8.2%, or 14.8% if you count the uncounted discouraged workers, but if you look, per Generation Opportunity, at just young adults 18-29, their unemployment rate is 12.1%, or including the 1.7mm who are no longer looking for jobs, 16.9%. Not the hope and change they had in mind.
A nice little point of contrast is Wisconsin, Land of the Perpetual Recall. Only under that putative meanie, Gov. Walker, unemployment is down to 6.7%, and they've created over 27,000 jobs in the last year. Policies matter. Job climate matters. Heck, understanding economics matters.
But over in the federal government, while Republicans at last count have passed 27 bills out of the Congress to help reduce regulatory burdens and uncertainty and encourage capital investment and new employees, the priority of the Democrat-controlled Senate? "Paycheck Fairness", which ought more accurately be called the "Skip Women, Hire a Trial Lawyer" Act. Great way to make employment WORSE for women. But who cares about consequences? This is politics!
But here's the interesting thing: Last year, when the SS Obama was riding high on the seas of OWS, not a democratic peep was heard defending capital or free markets. Now, suddenly, there is a growing chorus, defending not only their private equity donors, but Romney! and capitalism! The human tendency to separate oneself from a sinking loser is asserting to itself. Democratic funders have to be wondering if these are policies, and if this is a candidate, they really want to support.