Job Creation For July Was Down From The Previous Month's Job Numbers

The U.S. Labor Department reported the U.S. economy created 157.000 new jobs in July, down from the previous month and the unemployment rate came in at 3.9%  It was the 94th straight month of positive job growth for the economy.  Wages continued its slow growth rate and was lower than the rate of inflation.  Economist were looking for a job growth of 195,000 for July.

In Trump's first 18 months in office thru July 3,297,000 new jobs have been created for a monthly average of 183,166 per month.  In President Obama's last 18 months in office 3,569,000 new jobs were created for an average monthly total of 198,277  new jobs per month.  So the explosion of new jobs that was supposed to take pace because of Trump's tax cuts, never took place and job creation under President Obama has so far out paced job creation under the Trump administration.

On another related note Trump's treasury department announced they will have to borrow $769 billion for the second half of 2018 because of revenue shortfall and increased expenses.  It will be the highest borrowing number since the great republican recession of 2008.  Trump's so called booming economy and tax cuts predictions continue the GOP fairy tale ideology of voodoo economics.  And Trump and the GOP will make matters worse if they pass their plan to cut the tax rate on investments as Trump announced earlier in the week.  This is a President and a party who love corporate America and the wealthy.

NOTE:  The U.S. Labor Department also reported that job creation for May and June were amended to add an additional 54,000 jobs.  The 54,000 jobs added were not added to the above numbers for Trump as no additions were added to Obama's totals.  The additions when added to both would not change the outcome of Obama's lead in job creation during that period of time.


This commentary written by Joe Lorio

Trump and his party PUNT once again on the Federl Flood Insurance Program

Tuesday the U.S. Senate once again passed a short term extension to the federal flood insurance program.  The program will now be able to borrow money to operate until November 30.  A long term solution to the program has once again escaped Trump and his party and as a result it has become one extension after another.  Louisiana, a state that depends on the program because of its flood problems get no help from Louisiana's elected officials who serve in congress and can not agree on a long term plan or solution.

The trumpet man and the GOP can pass a tax cut that benefits the wealthy and corporate America and add $1.8 trillion to the national debt but lack the governing ability to move legislation that is worthy for the people in need of flood insurance.  Its a pattern of non governing by a party whose ideology is unAmerican and incapable of good judgement.  And to top it off, their leader in the White House lies about every thing and supports Russia and his own interest.

So like health care and immigration, the can continues to be kicked down the road on the flood insurance program.  And the can was smashed by Trump himself of making Mexico pay for a wall and once again has threatened to shut down the federal government if congress does not agree to pay for his wall and bail the  trumpet man out of another big lie.  Trump thinks he can shut the federal government down and blame the democratic party.  That is how his corrupted mind works and operates.  When November 30 rolls around, the federal flood insurance program will tell a story.  Will it be a long term story and solution or more of the same extensions and lack of governing.


This commentary written by Joe Lorio