The economy is at a standstill. That’s what Marketplace’s Kai Ryssdal says. 80,000 jobs were created nationwide in June. 200,000 jobs would have been great. But 80,000 just means we’re stuck.
“The bottom line is we’re not adding jobs as fast as we need to … 80,000 jobs a month isn’t going to do it,” said Ryssdal.
Beyond the job market, take into consideration rising gas prices and food prices.
“Anything that happens in an already stuck economy, anything that’s going to take money out of consumer’s pockets is a bad thing,” said Ryssdal.
On July 9, President Obama proposed the Bush tax cuts be extended for a year; a sign that Ryssdal views as a desperate attempt.
“The president is desperate now to do anything that will not have consumers feeling like they are squeezed,” he said.
After all, keeping the consumers happy so that they will spend money is crucial for a boost in the economy.
“Consumer spending is a huge part of the economy,” said Ryssdal. “And as consumers now heading into summertime after a stuck spring, if we just decide we’re not interested in spending, that will mean bad things for the economy later this fall and for his presidential campaign.”
Guest:
Kai Ryssdal, host and senior editor of Marketplace
The Diane Rehm Show: Tax Rates and the Presidential Campaign
