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Crossfire: Lowest unemployment rate in 5 years
The November jobs report has just been released and the U.S. has added more than 200,000 jobs, dropping the unemployment rate to 7%. This is the lowest unemployment rate in 5 years.
In the Crossfire: David Madland who is the Director of the American Worker Project at American Progress and Nancy Pfotenhauer who is the former chief economist for the RNC join S.E. Cupp and guest host Jennifer Granholm, the former Governor of Michigan, beginning at 6:30pm ET.
We want you to weigh in: Does President Obama deserve credit for the drop in unemployment?
Vote by tweeting yes or no using #Crossfire or comment on our Facebook post. View results below or through our Poptip results page if you are on a mobile device.
Meet the Hosts
Author, documentary filmmaker, historian, Speaker of the House (1995-1999), and 2012 Republican presidential candidate
Fmr. Obama Deputy Campaign Mgr. and W.H. Sr. Adviser, founder of Precision Strategies, fmr. Sr. Adviser to Maj. Leader Reid and Sen. Kennedy
Conservative columnist for New York Daily News, contributing editor at Townhall Magazine, commentator and author
Former Special Adviser for Green Jobs under President Obama, co-founder of Rebuild the Dream, author and attorney
lol
Yeah, he deserves every ounce of credit.
Lowest labor participation rates for forty years. Indefinite money printing. Few people working, fewer people able to pay the bills.
Yep, great legacy.
Oh, and the chattering classes might want to stop hyping the "improving" economy. Maybe it is improving in some sort of vague, obscure economic indicator kind of way. And certainly rich people are doing great right now, but they usually are doing alright.
But in a real, grocery-buying kind of way, it's in the toilet. Personally, I'm convinced that the few safety nets that we have (SNAP, SSDI, unemployment) and crazy money printing are what saved us from being forced to call it a depression. Great that rich people kept on making money, but people I know were going hungry. Like actually eating a meal or less a day.
It has gotten a little better, but not really. It feels like, more than anything, people are learning to make do with less. My parents, who always considered themselves frugal, were forced to halve expenses, for example. It was really rough for a while, but now they are used to it. Eating meat once a week is doable, but you can't say the economy is doing well if that's what 'middle class' people have to do to make it.
And yes, let's give Obama credit for it.
Unemployment numbers go down at the same time as the labor participation rate goes down. Hmm I wonder what that means?
The GOP Solution: Turn all the Old, Sick, Poor, Non-white, Non-christian, Female, and Gay people into slaves. Then whip them until they are Young, Healthy, Rich, White, Christian, Male, and Straight. Or until they are dead. Then turn them into Soylent Green to feed the military during the next "unfunded/off-the-books" war. And don't forget the GOP all time favorite............TAX CUTS FOR THE RICH!!!!!!!!!
Seek help
Yes, of course!
Republicans bad, Democrats good!
It's all so easy, why didn't I see it before?! lol
Dude, look really hard at the DNC before you start picking sides. They're all in it together. 🙂
They don't count people who have been unemployed, actively looking for work, for over a year. Then they count all these bs part time seasonal jobs. These numbers aren't real. If you really think about it, just by talking to other people about their situation and how many multi-generation households there still are, you'd be pretty stupid to think the economy has improved.
The Census gets the unemployment rate from a pathetically small survey called ACS. Originally it was meant to take over for the long form of the decennial, but has morphed into seemingly the only survey of note.
They were also busted recently making up numbers for the survey out of whole cloth. The Census Bureau is really shaking internally over it.
So imagine; that's how bad things really are. Even though they only survey a small portion of the population, even though they only count people actively looking for work (which, by the way, isn't 'actively looking for work' it's 'actively signed up, every week, with the local unemployment office'), they still didn't like the numbers.
I don't think many people are fooled, though.
UE will be 5.8% by mid terms.
You maybe right. By that time tens of thousands more will fall from the rolls and join the long term unemployed with no hope to find a job. Why do you think they want to extend unemployment benefits for so many. Ah.............because there aren't any jobs to be had.
It is funny, I never associated with a party yet I have a bunch of people attacking the GOP under my post and going back to Reagan and Bush. The simple fact is the economy still sucks, all the politician in office are responsible for it, not just one party. For me it is hard to put alot of this on the Republicans for the for the simple fact that the Republicans have been out of the power loop since 2007, they haven't had much power to do anything so, most of the policy has come from the Democratic side. The President just lies and spins things, which is obvious now with the answers his staff give. You get a pass for the first thing you didn't know about maybe even the second....after that it is obvious you are BSing and then all the other passes come into question. Lately the only politician I have seen with some sort of honesty and there to serve the people is Joe Manchin. As far the one person that said about we need more unemployment benefits, I have one problem with that....I see too many people take advantage of it instead of using it for what it is intended. We need to change the rules for people getting the unemployment before we do any extensions. If we do an extension. There are jobs, maybe not the pay you are looking for....but you have to start somewhere.
this article is bullsh-t the unemployment rate is worse then ever they are not counting the people that gave up looking for work and they are not counting that the jobs generated by seasonal work christmas i am tired of all the lies and spinning of things in there favor why doesnt anybody call him on this
I cannot, for the life of me, figure out why you nay sayer wish so much the Failure of this country. Why? Why? Why? If the President fails, the country fails. If the country fails we fails, You fail. You Lose. Your kids Lose. Your family Lose. That's what you all want? I didn't think so. The results would make you a Democrat. Quick.
Look, NO ONE wants this country to fail, alright? At least, not any private citizens; politicians of all stripes make me wonder. lol
I know that's not a fun party line, but it's the truth. Republicans aren't wishing death on all the children, and Democrats aren't trying to turn everyone gay, alright? Certainly not the average party member on the street. This type of crap is getting really old, and I'm amazed anyone still buys in.
Maybe different people have different ideas about how to make the country better. Maybe, just maybe, if instead of ranting we tried to treat everyone with a bit more respect, we wouldn't have the current political issues and infighting....
On that note, Obama is becoming known as a notorious liar. It doesn't make me very happy either; I voted for him the first time around. That's just how it's going; his actions, and actions of those around him, made it so. If, as a Democrat, that makes you uncomfortable, you are far better off contacting your party leaders about it than rambling at a random Republican on the internet about how they obviously want the country to fail.
Were you even around in the Bush years? You are demonstrating exactly what conservatives used to do to liberals during that time. It wasn't fun. Please don't make us those guys. You remember how that ended, right?
Play defense when the market is risky, and vice versa. Today is still
not risky but it is getting close. I suspect Jan. 15 next year would be
another milestone. It depends on the QE tapering. The Fed will do it
when unemployment falls to 6.5% (now it is 7%). Check out the simple
chart that tells the REAL story.
tonyp4idea.blogspot
Factually Obama does deserve credit for decreasing unemployment. He is President, so no matter how anyone actually feels about this, he will indeed get credit of this. How people feel is irrelevant when all is written about US biggest recession in over 50 years, and the long road to recovery. Stats will still be reported and Obama will receive credit.
he also deserves credit for Ben ghazi, bold face lying, irs scandal, etc, etc, face it bammys a creep !!!
Its the Holiday Season! Jobs always go up this time of year. Also, 75+ percent of the new jobs are part time jobs. No need to have a party yet.
Amanda,
Actually the job market hiring was seen across several sectors, which is good. Since stats were for November, Holiday hiring had little impact. But US economy is still not out of the woods as yet. US still has jobs lost due recession that have not been filled, and then there are the other 13,000,000 more adults added since then that must also be addressed. Financial reports I receive and read indicate there are enough businesses that are doing financially well, but due uncertainty of US lawmakers and the upcoming budget negotiations due soon, are just not willing to hire too much. Lawmakers short term fixes appear to be causing some hesitation among the business owners. Plus the sequestration cuts factor which economy has handled ok, but those cuts do affect the stats to some extent.
Only time will tell if the increase hiring continues or not. The decrease in unemployment claims was good news to add to hiring pick up. Progress has continued to be slow but steady. At least we are heading in right direction. And my husband and son who are CEO's of their own corporations have seen improved consumer spending and improved corporate profit this past year.
Think we must all remember we are recovering from one of worst recessions in US history. And recovery does not occur as quick as we would like. And lawmakers are not passing any laws to help stimulate jobs growth. Lawmakers are the legislative bodies that vote, act w policies that affect the jobs situation. Not much has been done since stimulus by these lawmakers. But Fed Reserve is still stimulating economy with good actions which is good . Presidents don't control what lawmakers in our legislative bodies do or pass. Whether you see report of November stats as good or bad, fact remains US economy is indeed healing. And that is good.
This president has done as much as possibly could be done to improve the economy he was left by the poorest excuse for a president in this century, and President Obama has worked diligently against an obstructionist headwind for the last 3 years. If anyone deserves praise for the improving condition of the economic situation it is he. it sure isn't the majority in the House of Representatives that deserve any credit, nor is it the welfare hogs at the trough set for corporate America....who could do a lot more than set on their cash subsidies and do nothing.
Worked diligently ??? First day out ??? Where the heck have you been hiding???
Point on View2012. I went to Iraq as a Republican and came back an Independent, when I left Afganistan I left as a Democrat
and life's load has gotten so much lighter for me. No more dislikes, intolerances, no more living with the lies that liars tell.
I'm Free.
The credit goes to the holidays. Wait to see what the numbers are in January and February 2014. Thousands plus of jobs open up that are only seasonal due to the holidays and then end at the start of each new year. The numbers will drop because these are not permanent jobs, they are only temporary.
Boy you hit that nail on the head, couldn't agree more
Then why extend employment benefits? Oh, yes lots of service sector jobs abd 41% of the jobs are govt too.
How many of those 200,000 jobs are seasonal only? After those numbers have been factored out, can the numbers be real!
Here we go again.... Check your facts Kimokuhns....... None of these jobs are considered seasonal... and these are real numbers because the rate went down because of jobs creation and not because people stopped looking for work.....Consult with Rush Limbaugh and I think he admit the truth if he's not out purchasing illegal prescription drugs.
Really! The commentator from the right said we've spent a half-trillion dollars in unemployment compensation helping people survive and feed their families. How shameful! – when we need 100's of trillions more each year to develop more potent weoponry and wage war. Isn't it time we move beyond our American political determination to dictate world affairs for our own benefit? Isn't it time we as a nation walk in the spirit of compassion?
How can you believe anything from bammy, I don't know my uncle, it was a u-tube video, I heard about it on the news,
my fav however if u like your plan u can keep it PERIOD. Wise up dude
How many of those 200,000 jobs are seasonal only? Once those numbers have been factored out, then the numbers will have meaning!
Yes Obama deserves this credit for the economy. It is under his "WATCH". The unemployment rate is down and yes there are those who are still out of work. The unemployment rate does not include those who are not seeking employment. If the individual stops looking for job, they do not receive unemployment benefits. So, if you are not showing that you are looking for work, you can not receive unemployment benefits. And stop calling the Affordable Healthcare Act – OBAMACARE. those who dislike President Obama because of one thing or another, ties him directly to it and therefore is against it. And most of the nay sayers don't realize the difference.
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HOAX.
He deserves credit for at least preventing the Republicans from further treading upon the recovery. We had already seen hiring numbers over 200K/month back in 2009 before the Republicans gained obstructionist control of Congress.
Good obammy boy, blame someone else !!!
If the economy is improving an it is not all smoke and mirrors, it is in spite of Obama, not because of him.
just before election you all shouted crucify him when unemployment rate was high and now that its low he does not deserve credit. l think it is very easy to see you for what you are
It is easy to see, we want a pres not a Madonna rock star.
C'mon If it was an Obama economy when it was bad, it's still an Obama economy stupid, when it get better and better and better. Oh it's going to get better and before the deal go down President Obama's legacy will be in stone with standing the erosion of lies and time. I guess his success make all of you liars, haters, The R word, The F word and the X word and me I'm
LMAO.
Yes, Obama deserves credit. And while there are some exceptions, the GOP people in Congress collectively deserve to be shot for treason.
A little dramatic aren't you?
What's happening to our economy is 100% Obamas doing. He can have all the credit.
I can't stop laughing at that unemployment graph. Mislead much, CNN?
This graph is from the Labor Department. The source is on the bottom right hand corner.
On most normal graphs the bottom baseline is zero. However, on this graph it is 7. By having the graph line go to the baseline, it seems like a subtle attempt to make the unemployment rate appear lower.
Tonight's debaters lose a sense of the heart of the under- and un-employment issue—just spouting the same old aphorisms. The key underlying fact is that people and businesses always want MORE, especially more money. Why would a business want to create good jobs with a living wage? It inures to their benefit to keep the labor supply high and their demand for it low. That is, every worker NOT hired saves businesses payroll money! They have no vested interest in raising employment, particularly at a micro level. They prefer just to work the current workforce harder.
They would develop some vested interest pretty quick if we notified them we will cut their bloated subsidies until they create more jobs at a better wage.....try a little jawboning.
Vew2012. I keep on hearing about the government "creating" jobs! The government DOES NOT create jobs. It is the governments responsibility to create an enviorment that jobs my be created by business.
I love this county! Full of Morons. You print 10 trillion dollars out of thin air, drive the stock market to the moon with zero interest rates and debt, hire a bunch of fast food clerks and sales clerks and drop the stats on the 20% of people who gave up looking for a real job and call is a RECOVERY!
This country is RICH BY DEFAULT. WE ARE POOR BY CHOICE. #LessGovernmentMoreFreedom.
Hypocite. You would be shouting the good news from rooftops if the president was rebuplican.
No, I would NOT. I am NOT a GOPer. Not even close. I have been a registered Independent since 1992. And on the flip side, are you saying that if a Republican did anything remotely well, would you give him or her "props"? I am assuming the answer is no, because you are an ideologue. And this is what is wrong with our once great nation.
Well put Amanda.
Kinda reminds you of 2005 when everyone had a brand new hot tub, kitchen and RV in the driveway all financed with the new-found "equity" in their house. Expect essentially the same result when the house of cards comes tumbling down again when the limit of "get me elected" economic policy reaches it's functional limit.
That is a pretty infantile grasp of the economics happening all around you.
you don't understand debt. it may surprise you to learn that debt is necessary to maintaining a healthy economy–we actually SELL out debt-and "printing money out of thin" is part of that process. you really should learn something about monetary theory before calling people morons.
Good for you, finally a smart person
Of course it's Obama. We all know the Republicans have done nothing but fight him every step of the way.
There is no credit here, when we continue to reward Wall Street with QE to prop up this pitiful economy only to have Wall Street suck the liquidity and move on!! Reinstate Glass-Steagall and then we'll talk recovery!!!
Yes, thank you! I just visited the FDR Presidential Library recently. The quote with FDR's photo which greets visitors as they enter the library is even more appropriate today:
The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have little. FDR
Your commentator for Crossfire does not have the ability for this position. There is no debate here: This administration has dug out of the Bush years, and everyone should come onboard. I have had quite enough of the BS of those who oppose the policies and direction that this President is trying so hard to take this country. I really am sick to my stomach when these sleazy, ignorant people get on TV and become sensational asses.
Good news already. Cutter is not on.
Republicans always get the short end of the stick. They would like to be the good guy and give free stuff to Americans too,, but SOMBODY has to watch the budget. The out of control spending is forcing Republicans to be the stern responsibility party, while the dems continue to give and spend, give and spend. It is one way to buy votes for the dems. and Lord knows they will need it come 2014.
Come on, dems – start showing some responsibility in your spending. Over 17 TRILLIAN? God help us.
Unfortunately the failed GOP had their turn and they squander there turn, and our cash, on costly and unnecessary wars that we will be paying off the debt for the next 25- 30 years at interest, kept pumping money into that bloated military, and draining the treasury to send everyone stimulus checks telling them to "go buy something, while giving rich people tax breaks which meant money to pay for the war debt was not collected, but borrowed at interest. So the last thing you need to do is lecture on spending and waste.
If this is the liberals idea of an economic turnaround then we're in real trouble.
yep. couldn't agree more. amazing how much lying is coming from this Admin. amazing and scary.
The US Economy is like a giant ocean liner. The captain can affect the course, but it takes a lot of time. I like this idea that one person – and only one person – is responsible for everything that happens, good or bad. Gas price goes up? Obama's fault. Terrorist attack at an embassy – Obama's fault. Government workers do something wrong? Well, you know the buck stops at the top. Geesh.
What's all this talk about "It's Bush's fault" then?
OK, it may not have been all Bush's fault....he just followed orders from Rummy, Cheany, Rove, and gool ol Rushbo.
The economy isn't that great right now, the stock market is being propped up with QE and the way they calculate unemployment is misleading. People are falling off the unemployment rolls and still out of work.
Sure, the President gets the credit. He'd get the blame if the economy tanked, too.
Plus, it sure isn't Congress that is doing anything at all, so they sure can't take credit.
Amen
I don't know enough about economics to give an informed opinion as to how much credit the president should get for the current economic recovery, but I do know enough about logic to state that if the GOP and Obama haters felt so strongly that he deserved all the blame for an economic mess he inherited, then they should certainly believe he deserves the credit for the recovery.
"they should certainly believe he deserves the credit for the recovery."
Good luck with that!
Like you said YOU DONT KNOW ENOUGH !!! LOL
The economy is stagnant.
Are you in a coma?
That same 33% that think he is a secret Muslim, socialist, white hating, communist born in Africa, and have been blaming him for the economy since the year before he took office have no reason to give him any credit now. He is still black.
Obama does not deserve credit for the economic improvement. The central banks of the world and businesses are responsible for almost all of what has taken place to improve the economy. Obama did agree with the Republicans to make the tax cut for the poor and middle class permanent though.
Who are you people kidding? – This is complete BS – The REAL American economy is still in the toilet, just waiting to be flushed.
Our economic problems didn't happen overnight. It's been happening over the past 25 years, but the economy was kept going by middle class Americans tapping into the equity on their homes until they were completely tapped out.
Perot said it back in 1992 "Jobs getting sucked out of the country" – Many people saw it back then, but unfortunately too many people bought into the spin of "BS" that we were being sold. Seems that both parties were always able to distract and polarize voters with insignificant peripheral issues like gay marriage and abortion, which got most voters so caught up in the BS that they lost sight of the bigger picture.
Let's face it – Over the last 2-3 decades both parties have been selling out the bulk of the American citizens, who they're supposed to represent, by allowing the incursion of illegal aliens (cheap labor) and the "out-sourcing" floodgates to open wider and wider without taking any sensible measures to stem the tide.
How's that been working for us?
We need more Americans, like Perot tried to be, to get some sensible measures put in place to protect America, the American economy and American jobs.
The ONLY REAL FIX for Our Country is to Raise Revenue by Bringing Back Jobs to US Citizens who Pay Income Tax.
America needs leaders that will remember that they are elected by the Citizens of the United States of America to represent the interests of those citizens and the country itself. – They are NOT elected by the Global Market Place or foreign citizens!
"both parties" BS
It was a straight party vote by REPUBLICANS TWICE last year to preserve tax breaks for companies that off shore our jobs.
Keep living in that both sides do it fantasy and see how fast we continue our slide into 3rd world fascism under Reagan/Bush trickleconomics.
THE GOP = OFFSHORING AMERICAN JOBS
read it and weep:
http://thegavel.democraticleader.house.gov/?p=5433
It was President Clinton who got us into bed with China in the first place. Nixon restored normal diplomatic relations between the US and China, but Clinton is the one who opened up the trade floodgates with China. And both Bill and Hillary were actively involved during their visit to China. I don't trust either one of them.
Under Clinton jobs to China, Under Bush I & II influx of illegals/cheap labor into the US and jobs to Mexico/NAFTA – Bush started it and it was signed into effect by Clinton. I loved President Reagan because he brought pride and respect back to our country after those embarrassingly weak Carter years, but unfortunately his shortsighted economic policy sent us down the wrong path. Jeez and the wizards on Wall Street wonder why the American people aren't putting as much money into savings and their 401k plans anymore. Maybe it's because the shortsighted economic policies, from the 1980's to the present, have come back to bite the hands that feed them. I guess the thought of changing from a manufacturing based economy to a service based economy of smoke and mirrors is working out just great? – Not!
Amen. Nothing more to say.
I totally agree... I think the administration is desperate & "created" this ploy to distract us from reality. total BS