I hate to be the wet blanket on the jobs report but the July numbers were not good despite the .1 drop in the unemployment rate. We still lost a quarter million jobs, if they said we depopulated a medium size city, maybe it would be more real. We aren’t talking about fluctuations in the job market. All the slack is already gone out of the system, we are cutting muscle and nothing is being done about it. There is no plan to bring these jobs back from China. Even if the economy "picks up", it just means we import more and this just hastens the day when our credit runs out and the party’s over.
Over the past eight years the Republicans were screaming about mushroom clouds over major cities all the while they were setting up the destruction of America. It hasn't been terrorists destroying homes but bankers. The refugees are living in their cars, in tent camps and relatives basements. Their hopes and dreams gone forever. Bin Laden didn't threaten to blow us up, he said he would destroy our economy. He thought he could drive oil up to $140 a barrel. He couldn't but George Bush did.
Nothing that the Republicans have done over the past forty years has been undone. The stimulus has mitigated the damage they’ve done in the last couple of years from under funding infrastructure. But there is still a backlog of trillions worth of work that should have been done and hasn’t been funded. The Senate compromise that appeased the three Republicans cut the spending in half when it was only fraction of what needed to be done to begin with.
Now is not the time to start thinking that things are going our way. We have to keep pushing for real economic reform. Buy American, buy local, go out and talk to people about rebuilding.