Why is it that whenever the monthly jobs report comes out, we all feel as though we’ve just caught a javelin in the groin?
The November jobs report is out, and it sucks worse than living in Detroit. It’s worse than expected, raising the unemployment rate to 9.8 percent, the highest level since April, and a .2 percent increase from the month before.
More than 15 million people are unemployed, and 6.3 million of them have been out of work for more than six months. Taking into account people who have stopped looking for work or are stuck in part-time jobs, the unemployment rate remained at 17 percent.
Little wonder why unemployment is the leading cause of Tylenol and alcohol sales in the country today.
But not all is as bleak today as being a Cleveland Cavaliers fan.
Apparently the White House and Republicans are quietly (they only speak in whispers) working out a deal that would extend the Bush tax cuts while injecting billions in stimulus spending into the economy.
Evidently all that GOP talk about their unwillingness to compromise on just about anything was more baloney than you’ll find in Lebanon.
Republicans want to secure both an extension of the Bush tax cuts for all income levels and funding for the government through next September. The White House hopes the GOP will support $150 billion in government spending, including jobless benefits and tax cuts for low-income families.
Of course, the Republicans rank extending the Bush tax cuts for all income brackets right up there with breathing.
The deal would also extend unemployment benefits, which expired last Tuesday and which Republicans have threatened to block.
However, some Democrats are grousing that President Obama is conceding too much to the GOP with an entire month left in the lame-duck session.
Nevertheless, it’s refreshing to find out that gridlock may not paralyze Washington forever and a day after all.