The famous phrase that James Carville coined in 1992 during the Clinton campaign capturing what ultimately drove voters and elected Clinton the first time, may also be the rallying cry for the Dems in the mid terms this November and ultimately for Obama again in 2012. But before Dems get too excited and breathe a sigh of relief that they won’t be held accountable by the electorate based on the healthcare vote, they may want to ponder this: the job picture isn’t getting a heck of a lot better.

Robert Reich (former Clinton cabinet member and financial advisor) writes an interesting article in the Wall Street Journal about the supposed good news of the March jobs numbers, which showed 162,000 jobs created. Trumpeted by the left as a sign that things were finally turning around like their leader had predicted, the truth behind those numbers  is more sobering. Although any growth is considered an improvement, what Reich points out that is missed by most is that in order to just stay even, we need to create 150,000 new jobs each month. With 40-50,000 of those March jobs being temporary Census jobs, the reality is that there arguably was still a net loss of jobs again.  Remember that 8.4 million jobs reportedly have been lost during this recession. That number doesn’t include those who have given up nor does it count those underemployed. Each month we need 150,000 jobs just for those seeking jobs for the first time. That isn’t putting any of the displaced millions back to work. So in doing some simple arithmetic, if we were to create 350,000 jobs per month we would be restoring 2.4 million jobs annually, while at the same time,  meeting the needs of new workers seeking employment. At that rate it would take approximately three and a half years to get back to employment levels of when the Recession began.  And not to be a pessimist , but I have yet to see a forecast that even sniffs at 350,000 per month.

So one might want to think twice before running out to print any placards or banners echoing Carville’s war cry of 1992 for at least this year’s elections.

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