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View Diary: GOP Debt Ceiling "Uncertainty" Fueled Grim Jobs Report (9 comments)

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  •  debt ceiling or no (0+ / 0-)

    If there was profit to be made, businesses would expand.  The lack of demand is preventing the economy from moving forward.  They can eliminate the debt ceiling for all it would matter - that won't make people more able and willing to spend.

    The only reason the debt ceiling argument even had any impact is because regular people read all the hype and then become nervous and don't want to spend money. When consumer spending accounts for 70 of our economic activity, you can't continually feed them a pile of gloom and doom porn and then expect not to have some negative consequence.

    The worst part about the grim jobs report is that private sector employment continues to grow.  Public sector employment continues to fall.  We are following the Republican prescription for success, it's not working, and Obama is taking the blame.  I feel like I'm taking crazy pills.

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