The New York Times reported: "Among the S.& P. 500 companies that have reported second-quarter results, more than one in 10 had higher profits on lower sales, nearly twice the number in a typical quarter ... while wages and salaries have barely budged from recession lows, profits have staged a vigorous recovery."
If new jobs are to be created, it looks like small businesses will have to do it,
In light of all this, with jobs known as a "lagging indicator" of economic recovery, how can we expect the Obama administration to effectively mobilize political support from the millions of Americans who are struggling harder than ever to survive?
The President is right about the Republicans threatening to make things worse, but is he really making them any better?
Obama seems to prefer shadow boxing than ripping into his opponents, being a mediator rather than a fighter. Nevertheless, he's already getting a lot of flack for being "anti-business." Bizarro!
Truth to tell, can he do what needs doing at all, given the conservative orientation of our politricks, and the reality that what we are dealing with are structural and systemic problems that political rhetoric of any stripe cannot overcome?
As The Economist assessed the "unprecedented rise in the rate of long term-unemployment," it noted bluntly, "sadly, no quick fix is available."
More fundamental changes are needed than those that currently top the Obama agenda.
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