A drop in the unemployment rate to its lowest level in three years propelled the Dow Jones industrial average Friday to its highest close since May 2008, before the financial meltdown later that year. The Nasdaq composite index hit an 11-year high.
The Dow jumped 156.82 points to 12,862.23, its highest mark since May 19, 2008, about four months before Lehman Brothers investment bank collapsed. In May 2008, credit markets were tightening up, subprime mortgages were going sour and Bear Stears had already collapsed.
Before the market opened, the Labor Department said the economy added 243,000 jobs in January. It was the strongest job growth in nine months. The increase in hiring pushed the unemployment rate down to 8.3 percent, the lowest since February 2009.....
Can you imagine how many jobs would have been created if the Republicans would have supported President Obama's job bills? Millions and millions of jobs would have been given to millions and millions of Americans. But Republicans would rather sit on their tucheses and do nothing, nothing, and nothing! Republicans are delighted that you don't have a job.
*** Voters have gotten a peek into the rivalry between Republican Ohio Gov. John Kasich and Chairman of the Ohio GOP, Kevin DeWine. Kasich has been trying to remove Kevin DeWine from his leadership post since January 2011.
Gov. John Kasich and supporters who are mounting a coup against incumbent Ohio Republican Party Chairman Kevin DeWine suffered a major setback Friday.
Incumbent members of the Ohio Republican Party central committee voted narrowly to severely restrict membership on the committee.
A move designed to help DeWine....
I'm no fan of either guy, but I'm all for anything that restricts the power of John Kasich.
**** Will someone explain to me why Sen. Orrin Hatch is so disrespectful toward President Obama? Sen. Hatch must not honor that part of the Bible that says that we should be our "brother's keeper" because he criticized a speech given by the President which advocated helping others (see Raw Story). President Obama never said that he was Jesus Christ. Hatch is a little confused.
Also, during the prayer breakfast this morning, while President Obama was giving his speech, Republican Rep. Phil Gingrey of Georgia, walked out. Gingrey, according to the Marietta News, said the President was "politicking." I think Gingrey is out of line. The President was sharing the concept of helping each other.