Kerry's "bad" economy

John Kerry has attacked Bush on the economy over and over again, particularly for job loss figures, which are deceptive at best. Now comes the latest economic numbers (hat tip to Powerline) from the Bureau of Labor Statistics, just in time for the last two debates, and the numbers aren't going to help Kerry's case.

According to a Tech Central article

The unemployment rate today is lower than the average of the past three decades. Household wealth has soared to a new record, and 69 percent of Americans own their own homes, the highest proportion ever.

Last week, the final figures for Gross Domestic Product in the second quarter were announced. GDP, the nation's total economic output, grew nearly 5 percent for the year. That's greater than in any 12-month period during the Clinton administration. Personal income is up 5 percent in the past year, and business spending is strong. Inflation is tame, and interest rates are low. Compare the United States with Kerry's paragons abroad. Unemployment in France is 9.9 percent; in Germany, 10.6 percent.

On Friday, statistics on employment will be released. August showed a gain of 144,000 jobs, but, because of the hurricanes, the increase could be smaller for September. But there should be a dramatic upward revision for past months as the Bureau of Labor Statistics reconciles the payroll survey, which shows a net loss of about 800,000 jobs during Bush's term, with the household survey, which shows a gain of 2 million jobs.

This will cause problems for Kerry's claim that Bush is the first President in 75 years to experience a net loss of jobs while in office, a charge that is false anyway but will be even more so if the BLS shows a net gain instead of a loss.

Kerry will be left with the claim that the gains weren't large enough, which oddly enough echoes his other charges - not enough troops, not enough planning, not enough alliance building, not enough pursuit of Osama bin Laden. Basically, Kerry agrees with what Bush is doing but disagrees with how he's doing them.

After all, he has a plan.