War Room
Stocks fall on bad job news
President Bush might want to hurry up on his stimulus package, as one piece of bad economic news begat another Friday.
We know it seems like there’s no news today beyond Iowa, New Hampshire and the continuing saga of Britney Spears, but there is at least some out there. Some might even — and this is hard for us tabloid lovers to admit — affect more people than whether or not Britney gets to keep her kids.
Like today’s monthly jobs report, which showed that the country added just 18,000 jobs last month, the lowest total in four years and well below the number needed just to keep up with increases in the size of the workforce. Unsurprisingly, Wall Street did not react well to this news. The Dow Jones industrial average and the NYSE went down about 2 percent, the NASDAQ more than 3.
Never fear, though — President Bush is considering whether to offer an economic stimulus package, and speaking today, he said, “This economy of ours is on a solid foundation, but we can’t take economic growth for granted. And there are signs that will cause us to be ever more diligent and make sure that good policies come out of Washington.” He also said, “We’ve had 52 straight months of job creation,” which is true in the strictest sense, but not true in … well, pretty much every other way. As noted earlier, a certain number of jobs need to be created every month just to keep pace with the growth of the workforce over the same period. That number is about 150,000, meaning that just this past month what we’ve really added is about 132,000 new unemployed people.
Alex Koppelman is a staff writer for Salon. More Alex Koppelman.
The Massachusetts assault
The Obama campaign wants to do to Mitt Romney what Republicans did to Michael Dukakis 24 years ago
Mitt Romney holds up a Boston newspaper announcing his victory in the Massachusetts Governor's race in 2002. (Credit: Reuters/Jim Bourg) Get ready to hear a lot about Massachusetts in the days and weeks ahead. It’s the next component of Mitt Romney’s resume that the Obama campaign plans to focus its attacks on, as ABC News reports:
Continue Reading CloseTeam Obama will point to Romney’s rhetoric on job creation, size of government, education, deficits and taxes during the 2002 gubernatorial campaign and draw parallels with his presidential stump speeches of 2012. The goal is to illustrate that Romney has made the same promises before with unimpressive results, officials say.
Steve Kornacki writes about politics for Salon. Reach him by email at SKornacki@salon.com and follow him on Twitter @SteveKornacki More Steve Kornacki.
The sad story of Thaddeus McCotter
The guitar-playing GOP congressman thought he was presidential material but can’t even make a House primary ballot
Thaddeus McCotter (Credit: Reuters/Rebecca Cook) Rep. Thaddeus McCotter, a four-term Republican from Michigan, just became the first incumbent congressman in seven decades not to qualify for his party’s primary ballot.
Of the 1,830 signatures that his campaign turned in, election officials have decreed that just 244 are valid – well short of the 1,000 needed for ballot access. So while the state attorney general’s office looks into whether there was any intentional fraud on his campaign’s part, McCotter will now run as a write-in candidate in the August 7 primary. He still might survive – he says party leaders are on-board with the effort, and the only candidate whose name will be on the ballot has little money or name recognition – but Michigan’s rules for write-in candidates are a bit stringent, and the use of ballot stickers is barred.
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Steve Kornacki writes about politics for Salon. Reach him by email at SKornacki@salon.com and follow him on Twitter @SteveKornacki More Steve Kornacki.
Mitt’s lucky breaks
So much for a brokered convention. Romney crosses the threshold tonight, making lots of punditry look foolish
Mitt Romney (Credit: AP) Nearly two months after he began sporting the title “presumptive Republican nominee,” Mitt Romney is poised to cross the magic 1,144-delegate threshold in Texas today. In terms of the current campaign, it’s a ho-hum milestone; the political world’s attention long ago shifted to the Romney/Obama general election fight. But take a step back, and the circumstances are a bit more remarkable.
After all, it was almost exactly one year ago that another development in Texas seemed to put Romney’s nomination prospects in grave danger: Rick Perry’s unexpected May 27, 2011, announcement that he was considering jumping into the race.
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Steve Kornacki writes about politics for Salon. Reach him by email at SKornacki@salon.com and follow him on Twitter @SteveKornacki More Steve Kornacki.
Obama’s Wis. harbinger
Is it panic time for the president if his party’s effort to recall Scott Walker fails next week?
Barack Obama(Credit: AP) There’s still a week left, but the prevailing expectation is that Scott Walker will survive Wisconsin’s June 5 recall election.
The Republican incumbent has led by a margin in the mid-single digits for the past few weeks, though Democrats insist their internal polls are closer. Tom Barrett, the Democratic candidate, turned in an aggressive and generally well-received performance in a Friday debate, the first of two head-to-head showdowns, and is now playing up the ongoing federal inquiry into Walker’s fundraising practices from his days as a county executive. The possibility of a late charge by Barrett can’t be dismissed, but he enters the campaign’s final days as a decided underdog.
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Steve Kornacki writes about politics for Salon. Reach him by email at SKornacki@salon.com and follow him on Twitter @SteveKornacki More Steve Kornacki.
Rand Paul’s leverage with Mitt
If Romney becomes president, the threat of a 2016 GOP challenge will loom over every decision he makes
Rand Paul (Credit: AP/Manuel Balce Cenata) National Review’s Robert Costa reported last night that Mitt Romney and Rand Paul had met privately for about 30 minutes in Washington. The speculation over what they might have discussed is mostly focused on this summer’s Republican convention, where delegates loyal (but not necessarily pledged) to Ron Paul will probably control a few hundred slots, with the potential to make some real trouble for Romney.
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Steve Kornacki writes about politics for Salon. Reach him by email at SKornacki@salon.com and follow him on Twitter @SteveKornacki More Steve Kornacki.
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