The new jobs report is due tomorrow and it will not be good. That scares Democrats who see President Obama's chances in 2012 getting weaker as no President in the past Century, with the exception of FDR coming out of a depression, has won re-election with an unemployment rate this high.
But I don't just blame him. I also blame the Democrats who run the Senate and the Republicans who run the House of Representatives. They are all complicit by their partisan priorities. The Democrats passed a Health Care Bill instead of a jobs bill. The Republicans, who took the House in 2012, pushed for Debt reduction instead of a jobs bill. They should all be thrown out of office for putting their wants and needs above those of the people.
A disappointing jobs report for July will be a painful second blow coming a day after the Dow Jones industrial average plummeted by 512 points and undoubtedly the President will shoulder most of the blame.
Democrats thought they would avert economic devastation by passing legislation to raise the debt limit by at least $2.1 trillion. Two days after the bill became law, destruction visited Wall Street, nevertheless.
The market drop wiped out more than 4 percent of the Dow and 4 percent of the S&P 500, biting into retirement and savings accounts across the nation.
Market experts say the drop was driven by anxiety over the European debt crisis, which threatens to engulf Italy and Spain, and signs that the U.S. economic recovery has stalled.
With the market tanking and more people out of work. Politicians are worried. They should be.
