Quote:
Originally Posted by Chico23231
|
Don't roll out the "Mission Accomplished" banner just yet. From NPR, not Heritage or Fox...
High Oil Prices Could Slow U.S. Economic Growth : NPR
Mr. WESSEL: Nothing good. Look, that's a simple one. We've had $20, $25 increase in the price of oil. Each $10 increase in the price of oil shaves about two-tenths off our growth rate.
It's like a tax on us. The money goes to the oil producers. It hurts growth. It means that people spend money on something - they have to spend money to fill their tank. They can't spend it on other things. It raises prices here, raises inflation threat, so it's all bad, and that's probably the biggest single risk to economy right now that oil prices goes still higher.
MONTAGNE: Okay, so let's get back to where we started, tomorrow's jobs report. What are we likely to see?
Mr. WESSEL: Well, the expectations are we'll see about 200,000 more private sectors jobs created. That's about what we saw in February. But with
14 million people still unemployed and looking for work, this is pretty slow progress. We won't see any effects on the Japanese earthquake in here. The survey that the Labor Department takes was taken before that earthquake hit. We know that business has been getting better for a lot of business.
The Business Roundtable CEOs, for instance, said nearly all of them expect sales to go higher in the next six months, but only half of them see adding workers in the next six months. That's more than we saw before; a higher percentage we saw before, but still worrisome. So I think what people are looking for is some sign that the private sector job engine is getting better and better.
It's been getting better but it's such a painfully slow rate that it's really disappointing.
MONTAGNE: David Wessel of The Wall Street Journal. Thanks very much.
Mr. WESSEL: You're welcome.
And to be clear the policies of Obama and the Democrats in Congress have done nothing but deepen the recession and slow the recovery.
Then there's this......
U.S. National Debt Clock : Real Time
Which Obama and the Ds have no interest in reversing.