February 03, 2012

Good news for the economy

And for Obama. The unemployment rate has fallen again, to 8.3 percent, and new hiring exceeded expectations.

Not to be too Herbert Hoover-ish, but, expectations are an economic issue in and of themselves. And, therefore, news like this is doubly good. The "expectations" angle should improve more again, if only a bit.

And, as noted, it's good news for Obama. If the unemployment rate can drop another three-tenths of a percent by Labor Day, to 8.0, he will have "momentum" headed into the general election. And, with more people paying more taxes, the deficits will narrow.

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