what john mccain didn’t tell us last night

The nation’s unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.

The Labor Department’s report, released Friday, showed the increasing toll the housing, credit and financial crises are taking on the economy.

…The Dow Jones industrial average was down nearly 100 points in morning trading. All the major stock indexes tumbled into bear territory Thursday as investors lost hope of a late-year recovery. With the employment situation deteriorating, there’s growing worry that consumers will recoil, throwing the economy into a tailspin later this year or early next year.

I guess there’s a reason they weren’t chanting “4 more years” last night.

Tags: Business, Dow Jones, Dow Jones Industrial Average, economy, Employment, jobs, John, john mccain, Labor Department, McCain, national, unemployment, United States Department of Labor, wall street | Category: 2008 Election, Economic justice, Labor, McCain, Sen John, Republicans |  Print This Post |  Email This Post |