Oh, woe is we:
Well, well, well … 166,000 new jobs. Twice the consensus view. Did somebody say Goldilocks? Did somebody say the greatest story never told?
Silly Larry. That’s what gatekeepers are for. If this news actually got out, Democrats’d have to work to get elected.
Here’s the key point: Outside the struggling financial and consumer discretionary sectors, the economy is firing on all cylinders. Economy-wide profits are up a smoldering 15 percent in the third quarter when you remove these two laggards. And in addition to today’s robust, expansionary jobs number, GDP blew away forecasts earlier this week, coming in a hair shy of 4 percent. (For the record, this represents the biggest back-to-back quarterly gain in four years.) This means healthy American businesses are generating jobs. Meanwhile, hardworking American workers are out there spending money, with real, disposable, after-tax, after-inflation income running around 4 percent — a big number.
I’ll await the DFLer claims that raising taxes would make things ever better.