Posted by Bob Janova at 10:19am Oct 6 '12... but not massive news. It's good that it's going up at all, of course, and the optimistic interpretation is that it's the start of a proper recovery. Having unemployment below 8% is worth some rhetorical points, but again a change of 0.2% is not very large.
The 'fiscal cliff' is the expiry of Bush's tax cuts, right? Isn't the situation already clear? (i.e. they will expire and tax on the rich will increase.) They weren't changes that affected most of the real economy in the first place so I don't see why 'uncertainty' (which isn't that uncertain, it seems very unlikely that they'll be extended) over them should be having much impact.
The 'fiscal cliff' is the expiry of Bush's tax cuts, right? Isn't the situation already clear? (i.e. they will expire and tax on the rich will increase.) They weren't changes that affected most of the real economy in the first place so I don't see why 'uncertainty' (which isn't that uncertain, it seems very unlikely that they'll be extended) over them should be having much impact.
Good news ... - Bob Janova