Rep. Barney Frank says GOP is hoping bad economy will weigh down President Obama in 2012.If we've seen more private sector jobs, why are jobless claims rising?
Republicans "hate" signs of any economic recovery because they're hoping a weak economy weighs down President Obama politically in 2012, Rep. Barney Frank (D-Mass.) said Wednesday night.
Frank, the ranking member of the House Financial Services Committee, said that the GOP was "frantic" about signs of an economic recovery, because they could strengthen Obama's political standing going into his 2012 reelection.
"You know, for the last year, every month, we've seen more private sector jobs," Frank said Wednesday evening on MSNBC. "And, by the way, that`s one of the things the Republicans are frantic about."
"This economy is starting to recover and they hate that because they want to be able to defeat the president based on a bad economy," the veteran Democratic lawmaker added. "I hate to have to say that, but I think that`s true."It's also true that during economic booms of the 1980s and during the George W. Bush administration that huge job increases were derisively called "burger-flipping" jobs by Frank and the Democrats.
To paraphrase Frank, I hate to have to say this, but he's full of excrement. Better not show these statistics to Frank.
Only 45.4% of Americans had jobs in 2010, the lowest rate since 1983 and down from a peak of 49.3% in 2000. Last year, just 66.8% of men had jobs, the lowest on record.
The bad economy, an aging population and a plateau in women working are contributing to changes that pose serious challenges for financing the nation's social programs.