The U.S. Labor Department announced that the economy created close to 170,000 jobs in August and that unemployment fell from 7.4% to 7.3%. August was the 42nd straight month of positive job growth and job creation. Other reports by governmental divisions showed that consumer confidence was up and that many economic indicators were stronger that anticipated.
The GDP is still less than 3% but was stronger then predicted. Overall the economy and job creation still needs to be stronger and sustained. At the same time of those reports it was once again pointed out how the nations infrastructure was aged and that many bridges are in danger of structural failure. President Obama's jobs bill that was passed by the U.S. Senate to work on the problem has been held up in the U.S. House for almost two years. That bill if passed by the U.S. House would create 1,000,000 new jobs but republicans continue to obstruct.
As reported here before, if the House had passed that bill the nation would be at full employment by the end of this year or early next year. Republicans hate to see another democratic administration bring back the country from another republican depression. President Obama's fourth fiscal year ends on September 30 and the final deficit will be much smaller than predicted and once again it is a democratic administration who is reducing the federal deficit and putting the country back on a course of balancing the federal budget. Democrats walk the talk when it comes to balancing the federal budget. Republican administrations only talk about balancing the federal budget but the last republican President to do so was Dwight Eisenhower in 1960 and when their so called conservative leaders, Ronald Reagan and George W. Bush left office they were the biggest deficit spending Presidents at the time. That really says it all.
This commentary written by John Lucia
