The U.S. Labor Department reported the economy created 214,000 jobs in October and the unemployment rate fell to 5.8%. For the last 10 months the economy created on average of over 200,000 jobs per month. The department also said 31,000 more jobs were added for August and September than was previously reported.
The President's policies continue to work, and slowly but surely are returning the country to full employment. The business community are even on board and predicting a great Christmas shopping season and continued expansion of the economy. And where are the republican's in congress and the conservative media? Well, they are still in denial, preaching fear and still have no record of accomplishments in congress or in the previous republican administration.
The republican non participation in the economy is nothing new, it happened during the Clinton administration also. The democratic controlled congress passed Clinton's economic and budget plans in 1993 and every republican in congress voted against it. Clinton's policies were so successful the republicans in the U.S. House impeached him. They are now on the same path with Obama talking about impeachment.
In the first part of next year wages for middle class Americans will start to grow again. They were down approximately $2500 on Bush 43 watch and are still down on Obama's watch so it is important that the President not let the republicans mess with the economy on their own terms.
The Obama administration is keeping with previous democratic traditions concerning job creation and the economy. That is, every democratic administration that succeeded a republican administration created more jobs than the republican administration it replaced. This writer outlined the reasons why in my three part
series with conclusion titled, "The U.S. Economy: Which Party Performs Best." dated 1/27/08.
Yes, another economic recovery is in progress on the democratic watch and yes, the republican party is still AWOL.
Also see my previous commentary titled, "Job Creation For Presidential Terms: 1929-2008" dated 11/5/2010
This commentary written by John Lucia.
