White House Economist Warns Of Volatile Employment Numbers

Alan Krueger went right to work Friday as the official Chairman of President Obama’s Council of Economic Advisers, reminding Americans not to read to much into the latest employment figures. 

Krueger, whose nomination was unanimously confirmed by the Senate late Thursday night, said in a statement that, although new government data shows that the economy continues to grow, he remains wary the slow pace of recovery is keeping Americans out of work. 

“Despite adverse shocks that have created headwinds for economic growth, the economy has added private sector jobs for 20 straight months,” the statement read. “We need faster economic growth to put more Americans back to work.”

The 80,000 jobs added to the market in October is significantly lower than economists previously predicted. Most notably, the construction sector lost 20,000 jobs, a market Krueger said could have been remedied with the infrastructure bill that was rejected in the Senate earlier this week.

“The report underscores that one area that remains notably weak is the construction sector,” Krueger said. “That’s why it is disappointing that the Senate was not abele to proceed to the infrastructure part of the American Jobs Act.”

Though the nation’s jobless rate fell by a slim margin from 9.1 to 9 percent and the economy added 80,000 jobs, Krueger was adamant in reminding people that monthly figures can be subject to change. Initially, August’s report indicated that the economy added zero jobs. According to Krueger, the number of jobs added in August skyrocketed to 104,000 following a series of revisions. 

“The monthly employment and unemployment numbers are volatile and employment estimates are subject to substantial revision,” Krueger said. “This illustrates why the Administration always stresses it is important not to read too much into any one monthly report.”

Boehner Urges Obama To Re-Visit GOP Jobs Plan

By Janie Amaya

Speaker of the House John Boehner (R-Ohio) urged President Barack Obama Wednesday to consider the Republican jobs plan.

Speaking before the U.S. Chamber of Commerce, the Speaker said the Republican jobs plan focuses on fixing federal regulations, the current tax system and getting the budget under control.

Citing a Gallup Poll, Boehner said the biggest concern for small businesses in America is what he described as a continuing “regulatory onslaught” coming from Washington D.C.

“The reluctance to do what we know has to be done, continues to mystify me. This is not rocket science,” Boehner said.

He said potential job creating companies like Gibson Guitars, have shut down or been sued due to federal regulations. In the case of Gibson Guitars, the business was raided by the government because it uses imported wood.

“I don’t want dirty air. I don’t want dirty water. Come on, it’s about  what makes sense in order for America to be able to compete. If we can compete and compete successfully, more Americans are gonna be back to work,” Boehner said.

Bolivia's Morales Sees Oil, Greed Behind NATO Mission in Libya

Evo Morales, Bolivia’s socialist president, says NATO’s intervention in Libya is an act of “imperialism” motivated by the West’s desire to control natural resources. 

In a press conference ahead of his address to the UN General Assembly this afternoon, Morales argued that the NATO bombing campaign against forces loyal to Colonel Muammar Gaddafi was part of a new strategy deployed by capitalist countries.

“They are trying to overcome their financial problems by whatever means [necessary to control] the natural resources of other countries.” he told reporters. 

Morales says NATO and the UN Security Council’s refusal to intervene in the Israel-Palestine crisis – a conflict he maintains is comparable to that of Libya, without the important oil reserves –is evidence of the West’s double standard for military intervention.  

“There have been efforts in Libya to remove the government, drop bombs,” he said “And what about in Palestine, where is NATO? Where Palestine is concerned where is the Security Council?”  

Morales said he was disappointed by President Brack Obama’s opening remarks at the General Assembly. 

 “I see a double standard on the part of President Obama which is disappointing. He talked about lasting peace, durable peace – but that can’t be through [American] bases or military intervention.” 

President Morales also referred to the America’s failure to move forward on the Kyoto Protocols and the continued existence of a large US nuclear arsenal as evidence that the American President was insincere in his commitment to climate change and nuclear disarmament.

GOP Presidential Contenders Critical Of Obama's Deficit Reduction Plan

President Obama is taking some harsh criticism from a group of individuals over his new proposal to hike taxes on the wealthiest Americans to help pay for his newly unveiled jobs bill.

That group? The GOP presidential field.

Rep. Michele Bachmann, who’s seen her status in the field dip in recent weeks, called Obama’s plans “gimmicks” and simply said “you don’t create jobs by increasing taxes on job creators.”

“If Warren Buffet believes he doesn’t pay enough taxes, then he should write a check today to the Treasury,” Bachmann said in a statement. “He and the President shouldn’t enact warfare on the millions of small businesses, charities and on middle class America with increased tax burdens.”

Rep. Ron Paul (R-Texas) recently emerged victorious in this weekend’s California Straw Poll and his national poll figures have followed suit. Paul now sits just behind former Massachusetts Governor Mitt Romney and Texas Governor Rick Perry.

In response to Obama’s new proposal, Paul said that by increasing taxes on the “so-called rich,” the president is actually targeting small businesses. Paul continued by saying the President’s policies are putting Americans in opposition with each other, stopping just short of using the words “class warfare,” a term that has grown in popularity among conservatives critical of Obama’s plan.

“The President’s class-baiting rhetoric categorizes Americans into opposing groups and pits them against one another, purely for his own political gain,” Paul said.

Romney, who prides himself as a guy who knows the mechanics of the economy and a job creating guru, argued that higher taxes will only be detrimental to economic growth.

“Higher taxes mean fewer jobs - it’s that simple,” Romney said. ” This is yet another indication that [Obama] has no clue how to bring our economy back.”

Perry shot right to the top after joining the GOP presidential field, using Texas’ job creation numbers as a staple in his new White House campaign. Perry tagged Obama’s proposal as a “bait and switch” plan that would only provide temporary tax relief as a trade off for higher taxes.

“The President penalizes investment when it is needed most,” Perry said. “Worst of all, the Obama plan fails to provide the certainty employers need to create jobs and the spending and deficit reduction our economy needs.”

The candidates will likely address and dissect the President’s American Jobs Act and his proposal to pay for it at their next debate this Thursday, Sept. 22 in Orlando, Fla.

Obama: We've Stopped The Bleeding, More Must Be Done

President Barack Obama spoke Monday in Fairfax, Va. where he told a group of local residents that his economic policies have “stopped the bleeding” from an economy nearing a state similar to that of the Great Depression. 

Obama reiterated to guests that the rate of recovery has not met his expectations and making up for the 8 million total jobs lost is an “enormous challenge.”.

“The fact of the matter is the pace of improvement has not  been where it needs to be and the hole that we had dug ourselves in was enormous,” Obama said. 

The president called on a Congress fresh off its August recess to pass a small business jobs bill that he said would offer businesses more assurance in prospective tax cuts, giving them more incentive to hire new employees. 

“Pass this bill, I will sign it into law the day after it’s passed or the day it is passed,” Obama said. “Right away, I think a lot of small businesses around the country will feel more comfortable about hiring and making investments.”

Obama also told the small group of northern Virginia residents that a Republican backed extension of Bush-era tax cuts is too expensive for the country.  The president said that his administration is still “in this wrestling match with John Boehner and Mitch McConnell” over extending tax cuts for the richest two percent of Americans. 

“We just can’t afford it,” Obama said.