Friday, October 7, 2011
US Adds 103,000 Jobs, Unemployment Still 9.1 Percent: Good Start but we need more
103,000 job net created in September is a hell of a lot better then of course 0 that was created in August. Actually 103K times better and at least the Unemployment Rate didn't increase. And President Obama finally put a Jobs Plan on the table and sent it to Congress and the Senate will take it up next week. And they'll offer a plan that will have a Sir Tax on millionaires. Meaning anyone making a million$ a year or more. Would receive a Tax Hike to finance the American Jobs Act. And the President's plan has some credibility as far as creating Economic and Job Growth. By focusing on Infrastructure Investment, Free Trade and Tax Cuts. As well as some Debt Relief for the Middle Class. And the House is finally talking about a plan that would include Infrastructure Investment. By talking about a six year Highway bill that would be paid for and hopefully in the neighborhood of 200B$ a year. And this Jobs Report I believe is a good start and hopefully will advance the ball rolling in Congress. To at least debate different plans including the President's and even put their own plans on the table. And hopefully these rally's in Washington will have some affect at getting Congress to do something. The Senate will debate the American Jobs Act next week and will probably amend it. Along with the Chinese Currency bill and hopefully the House will at least put their own plan on the table.
Congress may be forced to put their own Jobs Plans on the table politically. Because according to the latest NBC News/Wall Street Journal poll. The President is beating by a large margin Congress when it comes to the economy. Both the House and Senate and the Approval Rating for Congress right now is around 15%. And I wonder if those 15% are willing to make their votes public or fear being ridiculed and looking crazy or both. The President has his own plan and the Senate will debate that plan and probably offer their own ideas. And Senate Leader Harry Reid scored a huge victory Thursday Night. When he won on a motion that would disallow Senators to offer amendments that are Non-Germane to the Jobs Act. Meaning they have nothing to do with the actual bill, like an Agriculture Amendment being offered to a Defense Bill. To use as an example and Senate Republicans the Minority Party, have routinely offered amendments to bills. That Leader Reid has brought to the Senate Floor just to slow the bill down. Knowing they don't have the votes to pass their amendments. So hopefully this means Senate Democrats can pass the American Jobs Act out of the Senate.
Looks like American Business's are hiring again at least according the the September Jobs Report but to continue this in the future. We need to jump start Economic Growth which will lead to Job Growth. And the President and Congress need to come together to push a plan to do this. So we can get people working again and bring down our Unemployment Rate.