NABE Economic Forecast – calls for job growth in 2Q 2010

Update: The NABE forecast expects the 7 million jobs lost to date will not be restored until 2012, even if they are counting the 1 million temporary census jobs in their 2Q ’10 Job Growth, I think the Dems are cooked :

WSJ: …While the recovery has been jobless so far, that should soon change. Within the next few months, companies should be adding instead of cutting jobs,” said NABE President Lynn Reaser. According to the survey conducted Oct. 24-Nov. 5, the recovery, fueled by rising business investments and a continued increase in stock prices, should be strong enough to bring employment gains from around April 2010. Still, with more than 7.3 million jobs lost since December 2007, 61% of the panelists don’t expect a complete recovery of the previously lost jobs until 2012…

Hamstrung by the nation’s $1.4 trillion deficit and his pledge not to raise taxes on middle-class Americans, Mr. Obama is keen to avoid any measures suggestive of a second, big-ticket stimulus. With about half of the February stimulus spending spoken for, the measure has created about 640,000 jobs, fewer than the number of jobs lost in January alone…

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NABE revising its forecast, calling for job growth in 2Q 2010. God willing it will be so. I see nothing to indicate this Administration will suddenly moderate it’s out of control spending and reimagining of our economy. Unless China let them know they MUST get their fiscal shxt together or face no purchasers for our debt. Even then I do not see how Obama can pull this out. He is ramming through the 3 trillion health care bill anyway and he will be politically destroyed if he tries to raise taxes before the 2010 elections….IOW the Dem. majority is fxcked.

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November 23, 2009. Tags: , , , , , . Economy, Finance, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St.

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