Saudi Ministry of Education to showcase innovations at 2025 Geneva International Exhibition    7,523 violators of residency, labor, and border security laws deported in a week    Video contradicts Israeli army account of deadly March 23 strike on Gaza paramedics    Saudi Arabia spends over $241 million to implement de-mining projects in 3 countries    Italy's Meloni government approves controversial security decree expanding police protections and penalties    Egypt submits new Gaza ceasefire and prisoner exchange proposal: Report    'Everything is possible' — Ronaldo focused on titles, not 1,000-goal milestone after Riyadh Derby win    Saudi, US military leaders discuss enhanced defense cooperation in Riyadh    King Salman Global Academy for Arabic Language launches program with Indiana University    Ronaldo brace powers Al Nassr past Al Hilal in Riyadh derby thriller    Ed Sheeran weaves Persian music into new song, Azizam    Al-Jadaan: Crown Prince's directives confirm government's ability to bring back balance to real estate market    Veteran Bollywood actor Manoj Kumar dies at 87    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Musk's X is suing India, as Tesla and Starlink plan entry    Tesla sales plunge after backlash against Elon Musk    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



They see what they want!
Published in The Saudi Gazette on 05 - 08 - 2012

WASHINGTON — President Barack Obama and Republican rival Mitt Romney, locked in a super tight presidential race, both argued that numbers in the latest jobs report bolster their position that they are best equipped to fix the economy.
Romney, meanwhile, received a celebrity boost Friday night when Clint Eastwood endorsed the Republican at a fundraiser in Idaho.
The latest numbers showed monthly job creation was higher than expected — but unemployment also increased. That gave each candidate political room to see only what he wanted, and to stick with the fundamental economic argument that he thinks will win the White House.
The numbers came exactly three months shy of Election Day.
“It's another hammer blow to the struggling middle-class families of America,” Romney said of the pace of job growth, assailing Obama's record from a Las Vegas trucking business.
At the White House, Obama surrounded himself with some of those families, playing up 29 straight months that private employers have added jobs.
“Those are our neighbors and families finding work,” Obama said. “But, let's acknowledge, we've still got too many folks out there who are looking for work.”
The economy is stuck and not growing enough to reduce unemployment or make people feel better. No signs of help are coming from a gridlocked Congress, or from the Federal Reserve, or from US allies with their own problems as the world economy suffers.
That means the economy voters have now may be the one they get when it's time to pick a president.
The bright spot: Employers added 163,000 jobs in July, more than double that of June. Yet the politically important unemployment rate rose to 8.3 percent, a notch above June's 8.2 percent.
Only three such jobs reports remain before the election: One in September, the day after Obama speaks at the Democratic National Convention; one in October shortly after the two men debate on the economy; and one in November a mere four days before the election. Whatever the monthly ups and downs, the big picture shows that the largest economy in the world has yet to take off: The 151,000 jobs added on average each month this year is almost the same monthly average as last year.
No economic recovery since World War II has been weaker than the current rebound from the recession that ended in June 2009.
A status-quo economy means the campaign arguments and strategies are not changing, either.
Obama and Romney will keep punching it out in largely negative advertising and personal appearances in about eight states expected to determine the state-by-state election's outcome. Much of the rest of America will be left to give money, volunteer or watch from the sidelines.
Obama's locked-in message is about asking the richest Americans to pay higher taxes, extending tax cuts for the middle class, and promising long-run economic growth by putting public money into education, energy and research. He has seized on a report that concluded Romney's plan would raise middle-class taxes.
Meanwhile, Romney's aides have long believed only a dramatic uptick in the economy could hurt his chances and force a broad change in messaging. So one month of stronger-than-expected job growth did nothing to alter Romney's case that “America can do better.” Capitalizing on an Obama vulnerability — public disapproval of the president's handling of the economy — Romney portrays himself as the change agent with the business background for the demands of the day.
He is promising to create 12 million jobs over four years, a pace that would demand nearly 90,000 more jobs every month than were created in July.
Yet he has offered few specifics to back up that ambitious projection, outlining a broad economic agenda of trade, energy, and lower taxes, spending and regulation.
Obama used the new numbers to fuel his own narrative of an American economy headed in the right direction.
“We knew when I started in this job that this was going to take some time,” Obama said. “We haven't had to come back from an economic crisis this deep or this painful since the 1930s. But we also knew that if we were persistent, if we kept at it and kept working, that we'd gradually get to where we need to be.”
The economy lost 8.7 million jobs in the recession and its aftermath. Since then, it has regained 3.9 million. — AP


Clic here to read the story from its source.