Friday news dump
Pretty much what you have come to expect from Republican "leadership."
The nation's unemployment rate bolted to 7.2 percent in December, the highest level in 16 years, as nervous employers slashed 524,000 jobs. The labor market is expected to remain weak as mass layoffs continue.Fun fact: The president who left office in January 1993 is the current president's father.
The Labor Department's report, released Friday, underscored the terrible toll the deepening recession is having on workers and companies, and highlights the hard task President-elect Barack Obama faces in resuscitating the flat-lined economy.
For all of 2008, the economy lost a net total of 2.6 million jobs. That was the most since 1945, when nearly 2.8 million jobs were lost. Although the number of jobs in the U.S. has more than tripled since then, losses of this magnitude are still being painfully felt.
With employers throttling back hiring, the nation's jobless rate averaged 5.8 percent last year. That was up sharply from 4.6 percent in 2007 and was the highest since 2003.
The unemployment rate, meanwhile, rose from 6.8 percent in November, to 7.2 percent last month, the highest since January 1993. Economists were expecting the jobless rate to rise to 7 percent.
So for all of you who were taking back breath to argue that this economic train wreck is the result of George W. Bush's failed policies and not failed Republican policies, don't bother. They are one and the same.
Meanwhile, the legacy campaign continues.
After eight years of days carved into five-minute increments, each begun with an update on mortal threats to the nation, President George W. Bush said Thursday that he's eager for a more carefree life in Dallas.Given that Bush is now filling his days with turd polishing while the United States circles the drain, it's hard to imagine how his life could get any more carefree.