The American economy lost 159,000 jobs in September, the worst month of retrenchment in five years, the government reported on Friday, enhancing fears that an already pronounced downturn had entered a more painful stage that could last well into next year.
Employment has diminished for nine consecutive months, resulting in the elimination of 760,000 jobs, according to the Labor Department report. Most of that occurred before the trauma of recent weeks, when a string of prominent Wall Street institutions nearly collapsed, prompting the government to propose a $700 billion rescue package.
Yeah, Republican economics is really doing wonders for America. Not. The point here, by the way, is not that this dismal situation is all Frank Wolf's fault, or John McCain's fault, or even George W. Bush's fault. The point is that all of those guys have bought into a bankrupt - literally and figuratively - economic philosophy of huge deficits (budget and trade), lax oversight, deregulation, favors to the richest Americans, "trickle down," etc. - that have gotten us into this mess. That's exactly why we need a fundamental change, and that's exactly why Frank Wolf should be replaced by Judy Feder on November 4.