A surprisingly positive jobs report and data showing that service industries expanded at their fastest pace since 2006 helped US stocks edge higher.
Private sector employment in the ADP report increased by 297,000 in December for the biggest monthly gain in jobs since 2001, coming in far above the average estimate of 100,000 extra jobs.
That's Three Times the projected estimate of jobs for that month, making it the 11th Straight Month of Job Growth.
\It could be argued that these were largely seasonal jobs and that it's unlikely that such a huge jump in job growth will be repeated, but it's also true that this assumption was already part of the initial estimate of 100,000.
This is what we've already seen happen to jobs as a result of Obama's Policies.
Additionally Republicans are claiming they'll be able to "Easily" cut $100 Billion per year from the Federal Budget, but they ignore the fact that THIS has already happened to the Deficit over the last two years.
- Year Deficit in $Bilions
As of 2011, the Deficit has already come down by over $290 Billion - before the House Republicans have done thing. By 2012 it's projected to drop another $440 Billion. (The reason for this is because nearly all of the TARP and U.S. Auto Manufacturer Loans have been repaid - and the economy has begun to recover producing jobs which produce tax revenues - just as part of the reason the deficit jumped in 2009 during Bush's final year was mostly the economic meltdown and Obama finally placing the true cost of the Wars ON BUDGET.)
If we hear Republicans starting to say that They're Efforts have brought jobs back or that They've reduced the deficit - all we have to do is come back to these charts at this point and time and call those claims exactly what they are - BULL PUCKEY!