President Obama Receives Great Unemployment Report

There was some very good economic news for President Obama on Friday, where we saw the unemployment rate drop to 7.8%, the first time that number has been below 8% in almost 4 years. This is a huge lift for the President after a disappointing debate on Wednesday night.

The GOP cannot blame President Obama for a record number of months with over 8% unemployment anymore, after the job market reported that there were hundreds of thousands of jobs that weren’t recorded and had to be adjusted to the jobs count. The economy also added 86,000 more jobs than originally thought in July and August.

President Obama is already on the stump in Virginia touting the growth of jobs to the economy. He said that “we still have a long way to go, but we are moving forward and not backwards to the same policies that got us in this deep mess.” President Obama can now go back on the attack against Mitt Romney for changing his stances on tax reform and a number of other flip-flops.

There is a huge psychological impact from the news of unemployment below 8%. This will resonate with the middle class, who are the key to this election. President Obama can be even more aggressive because he has the numbers to back him up.

Republicans are already crying foul after the jobs report and the drop of the unemployment rate. This is another example of the GOP rooting for bad numbers as they have cared about only one thing over the last 4 years, defeating Barack Obama. Congress needs to bring in people who are going to work together and stop trying to take down this country.

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Posted by on Oct 5 2012. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. Responses are currently closed, but you can trackback from your own site.

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