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.