The economy and elections
This morning we get word that "employers in the U.S. added 92,000 jobs in October, and payroll growth in prior months was revised higher for the second time in a row, pushing the unemployment rate down to a five-year low." With unemployment at 4.4% basically anyone who want a job has a job. How will this play out in next weeks mid-term elections. One would expect that the incumbent party would be highlighting this as a direct result of the tax cuts. It has been proven time and time again that higher tax rates crush economic development. It is also a known fact that if returned to power Democrats will attempt to pay for their promises with higher taxes. Rep. Pelosi can tell Larry Kudlow that tax increases would be considered only as a last resort all she wants but no one with a clue believes her. Even left wing mouth piece Chris Matthews laughed at that quote.
Your choice next week is clear for many reasons, the economy is one where there is an easy to see cause and effect. Vote Democrat and you can expect higher taxes and higher unemployment.
The question for the next few days is will the Republicans make the case clearly enough to be understood by folks who don't watch CNBC or read the business section of their newspaper?