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Renewed Focus On Economy As Unemployment Hits 5 Year High

Terrible news from the labor department today. New York Times: The unemployment rate jumped to 6.1 percent in August, its highest level in five year

Terrible news from the labor department today.

New York Times:

The unemployment rate jumped to 6.1 percent in August, its highest level in five years, pushing the job troubles of American workers onto the political stage as the presidential campaign enters its final eight weeks.

So far, 605,000 jobs have disappeared since the start of the year, with employers slashing 84,000 jobs in August alone, the Labor Department reported on Friday. And even Americans who are still employed are facing tough times.

In a statement Friday, Mr. McCain said that “Washington has failed to act” to improve the poor economy. “Americans are hurting and we must act to create jobs,” he said. He vowed to enact a jobs program and help retrain workers for the changing market.

While Mr. McCain has tried to distance himself from President Bush, Senator Barack Obama, the Democratic candidate, tried again Friday to link the Republican candidate to the current administration. Mr. Obama argued that his opponent was “intent on continuing the economic policies that just this year have caused the American economy to lose 605,000 jobs.”

How can John McCain claim that "Washington has failed to act" and that he is the better choice for the economy when he has marched in lock-step with George W. Bush 90% of the time? The mind reels...

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