White House: Economic recovery 'gaining traction'
WASHINGTON (AP) - The White House says the falling unemployment rate is evidence that the economic recovery is "gaining traction."
The jobless rate dropped to 7.7 percent last month, the lowest level since President Barack Obama has been in office. A burst of hiring last month added 236,000 U.S. jobs.
Still, White House economist Alan Krueger noted in a statement Friday that the new unemployment rate was measured before $85 billion in automatic budget cuts started taking effect. The administration has warned that the cuts could have a negative impact on employment and economic growth.
Krueger says the administration is urging Congress to move toward a "sustainable federal budget" by closing tax loopholes, enacting entitlement reforms and cutting spending.
The jobless rate dropped to 7.7 percent last month, the lowest level since President Barack Obama has been in office. A burst of hiring last month added 236,000 U.S. jobs.
Still, White House economist Alan Krueger noted in a statement Friday that the new unemployment rate was measured before $85 billion in automatic budget cuts started taking effect. The administration has warned that the cuts could have a negative impact on employment and economic growth.
Krueger says the administration is urging Congress to move toward a "sustainable federal budget" by closing tax loopholes, enacting entitlement reforms and cutting spending.
'White House: Economic recovery 'gaining traction' Yeah right, pigs fly and unicorns are real. This is just a figment of their delusional imagination. The economy is still in the crapper.
This guy has some good drugs. Â Maybe he should share with the rest of us who are living proof he is full of it. Â This is starting to sound like the trailblazer fan's motto. Â "Just wait until next year". Â They have been waiting for almost forty years. Â This country doesn't have forty years. Â We will be lucky to survive four years with the leadership we have in the White House.
No thanks to anything they are doing, mind you.....
Don't ya just love how B HO brags about how many millions of jobs he's added since he took office...... yet there are still fewer people working today than the day he took office.Â
And the economists most recent estimates claim that the economy may grow an entire percent this year, thats right folks an entire one percent........... those of you who voted for a second term of Obamanomics should really be embarrassed.Â
The summer of recovery, third times a charm.