Friday, July 8, 2011

The unemployment report...

...today was horrible -- only 18,000 jobs created in the month of June. Mark Thoma asks (my emphasis):

Why, again, are we spending so much legislative time trying to figure out how to cut the deficit in the short-run -- which will make things even worse -- instead of focusing on job creation? We do need to get the budget under control in the long-run, but deficit reduction can wait until the economy is on better footing. We need more help for job markets right now, not the creation of additional headwinds that work against the recovery.

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