On Thursday, July 6th it was reported that only 80,000 jobs were added in all of America during June. The newsreaders and commentators acted surprised and disappointed that so few jobs were added. These are educated people who, I guess, have to act dumb in order to appear “fair”. As usual they speculate that this data will hurt the Obama campaign and help the Romney campaign.
However, I have to wonder about where they thought new jobs were going to come from. We are all living in the same America I assume. I have not seen any active attempts to stimulate job growth either from the public arena or the private sphere. We can all see that we are in a sort of holding pattern, frozen in place, waiting to see what will happen next. Consumers buy, but not with any gusto. Employers hire, but only when absolutely necessary and they are prepared to lay employees off immediately if they think they need to. Our Congress has been stonewalling any effort to help stimulate economic growth or jump start hiring. We are still stuck in a tight money scenario and it is a sort of Catch-22. If we spend our debt will grow, if we don’t spend our debt will still grow, and if we cut, our debt will grow. But spending might lead to a way out of our torpor and, although the debt might increase temporarily, economic strength might eventually help us lower the debt faster.
Our media, by acting so disingenuous, by pretending that they don’t have the slightest idea how we got where we are or why we are still here, is acting like they had expected “magic” to create jobs in June. The one factor I don’t think we can rely on for job creation is “magic”, although it looks like all we’ve got.