Boehner: Unemployment too High So Let's Default on our Debt?

     Score another one for GOP economic incoherence. On the one hand who can deny that too many Americans are out of work-though today's BLS numbers were generally strong?

     "The U.S. economy added 155,000 jobs in December, according to an initial Bureau of Labor Statistics report, matching analyst expectations and suggesting a continuing economic recovery.
The payroll employment figure, new entrants into the job market, and the revisions to previous surveys, suggest outside forces — particularly Hurricane Sandy and economic uncertainty created by the fiscal cliff — didn’t drag the labor market below the steady pace of growth reflected in recent data."

     "BLS now estimates that the economy added 137,000 jobs in October, down a tick from its first revision of 138,000 jobs, and off significantly from its highly uncertain initial estimate of 171,000. However, the revisions also indicate that the economy added 161,000 in November, up modestly from the initial estimate of 146,000."

    "The unemployment rate is now 7.8 percent, according to the report, a tenth of a percent higher than it was in the November survey. However, this does not reflect a genuine increase, as BLS says seasonal revisions nudged the November unemployment rate up to 7.8 percent as well."

     "The report’s internal figures are consistent with a slow, but steady recovery from the 2008/2009 economic crisis. It also underscores the dangers of a renewed debt limit fight, and other forms of disruptive political interference."

     http://tpmdc.talkingpointsmemo.com/2013/01/economy-adds-155000-jobs-in-december.php?ref=fpblg

    Boehner however, says because employment is still not where we want it to be, we should have another debt fight. Maybe if we default on our debt this will end the Lesser Depression. Meanwhile all the debt ceiling is about is paying bills we've already incurred. However, Boehner's not letting the facts stop him:

     "House Speaker John Boehner (R-OH) on Friday released a statement in response to the latest jobs report from the U.S. Department of Labor, linking the unemployment rate with the federal government's debt.

    The statement:

“Too many Americans are still out of work and Washington has too much debt. Our oversized and overspent federal government is a drag on economic growth and job creation, and has burdened every American with a $50,000 share of its debt, and rising. This is the year we need to work together to solve these problems. In the coming months, the House will pass real spending cuts, meaningful reforms of the entitlement programs that are driving us deeper into debt, and a fairer, cleaner tax code. These are the keys to unleashing robust job growth and securing a better future for our children.”
 

      Yep, This was the logic used to deleverage government debt in 1937 as well. The key is the Dems can't let the GOP control the narrative. To the extent that anyone believes this economically illiterate narrative, they will be illiterate about what's going on. Yet I don't think it's going to work. The public basically seems to have caught up with what's going on-if not we'd have President Romney now who'd be taking credit for today's fairly strong job numbers. Krugman sounded to me a little too pessimistic today.

      "Sorry about the failure to post anything earlier. It was a combination of family responsibilities and, to be frank, sheer weariness over the folly of our public life. And I really don’t feel up to any extended discussion even now."

       http://krugman.blogs.nytimes.com/2013/01/03/short-takes/

       While there's a lot of folly in our public life, the American people are not so easily sold a bill of goods these days. I think Krugman himself has had a little bit to do with that.

        Jared Bernstein sums up today's job report well: 'Steady as she goes but she needs to go faster.'