Friday, August 05, 2011

Obama’s 255,000 jobs problem

The Washington Post reports:
The political problem for President Obama? Even if 100,000 jobs are created, it will be less than half the number of jobs — 255,000, according to Republican economic consultant Matt McDonald — that need to be created every month for the unemployment rate to dip below 8 percent by Election Day 2012.

And there’s very little historical evidence of a president — of either party — winning a second term with unemployment at those heights.