Thursday, May 3, 2012

AP cheerleads for Obama, says it's sure unemployment will be 7.9 by election time so their guy can be re-elected

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5/3/12, "AP survey: Steady job gains to sustain US recovery," AP, Paul Wiseman

"
Hiring through the rest of 2012 will lag the brisk pace set early this year. But it will be strong enough to push the unemployment rate below 8 percent by Election Day.

That's the view that emerges from an Associated Press survey of 32 leading economists who foresee a gradually brighter jobs picture. Despite higher gas prices, Europe's debt crisis and a weak housing market, they think the economy has entered a "virtuous cycle" in which hiring boosts consumer spending, which fuels more hiring and spending....

But the economists think the recovery will manage to reduce unemployment to 7.9 percent by Election Day from 8.2 percent in March.

Falling unemployment would boost President Barack Obama's prospects in November. Going back to 1956, no president has lost re-election when the unemployment rate dropped in the two years before the election....

"Businesses are finally confident enough to hire and invest,"...says Phillip Swagel, a University of Maryland economist."...

  • [Ed. note: Later in the article Swagel contradicts himself.]

(continuing): "There's still a ton of uncertainty about the future of tax and regulatory policy," says Swagel, a Treasury Department official under President George W. Bush. "Business that might be tempted to expand say, 'I don't know what my taxes will be in three years.'"...

  • [Ed. note: Now the AP comes up with its favorite which is, you better shut up. If it can just prevent freedom of speech they can get what they want like in Communist China. Having the White House, the Senate, and Soros aren't enough for the AP. They even had the House for the past 4 out of 5 years.]

(continuing): "Another factor in the economists' cautious view of hiring: political bickering and doubts about government policies in an election year."...

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Ed. note: Wow, expert economists now use the metric, "political bickering," per the AP


via Rush Limbaugh

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