Look out below

The latest job numbers (18K increase in employment, with unemployment up sharply to 5%) are truly dismal. Over the entire course of this presidency, the growth in employment has been far below the rate of growth in the population of employable people, notwithstanding the trumped up unemployment statistics. There is a huge and growing pool of people out there that should be employed but who have simply given up looking.

Undoubtedly, the president will propose a tax cut for the wealthy.