Friday's lousy jobs report was a big blow to President Obama's reelection campaign.
One of the single biggest factors in a President's reelection chances is the direction of the unemployment rate and monthly jobs numbers in the six months leading up to the election. We're getting very close to the six-month mark now. And, from Obama's perspective, the jobs numbers are headed the wrong way.
The Obama administration will continue to tell the same story that they have told from the beginning: The economy isn't healthy enough, but it's much healthier than it was under the Republicans--and Obama said from the beginning that it would be a long, slow slog.
That's the truth: It was always going to be long, slow slog. The country's huge debt load, housing collapse, and financial crisis were always going to take years (if not decades) to work through, no matter what policymakers did. Read more.......