No president since World War II has won re-election with a jobless rate over 7.4 percent, a figure the economy is now almost certain not to reach before November. The president is quickly running out of time to bring the jobless rate down with just four reports now remaining before the election. And Friday’s report took on added importance as it will help set impressions of the economic trend heading into the summer vacation season, when voters tend to tune out…
Obama’s approval rating on the economy—consistently rated the top issue for voters— has long been mired in dismal territory. Friday’s numbers are likely to freeze the current dynamic that doesn’t favor the White House, forcing the president to continue a harshly negative campaign seeking to frame Romney as unpalatable alternative through attacks on his business record and extensive wealth, including his money in overseas accounts…
“I don’t see where the growth is going to come from now until the election,” said Matt McDonald, a former Bush administration official now with consulting group Hamilton Place Strategies. “You have a massive European overhang and business leaders are very concerned not just with Europe, but with what is going to happen in the U.S.,” McDonald said. “I think it will continue to be a pretty rude intrusion into the president’s campaign on a monthly basis from now until the election”
Now that the SCOTUS decision has been released, I expect jobless rates to climb, as businesses who were holding off, reduce the size of their workforces. Not to mention the doctor’s offices that will close if some doctors retire rather than deal with the Obamacare regulations.
Anyone care to contemplate on whether this may result in “speakeasy” type clinics or a black-market for ‘house-call” doctors?