Sen. DeMint: Obama Purposely Creating “Panic” Over Debt Ceiling


President Obama is being very misleading in his statement that he can’t guarantee Social Security checks will go out on Aug. 3….

“We are not going to default, we have enough tax revenue to pay our bills. It certainly will be disruptive if we continue going on the track we’re going on right now. We have enough asserts, Social Security, Medicare trust fund to pay those benefits if necessary. It’s not ideal but we don’t need to panic and rush into a deal and the President has actually been burning the clock with these secret negotiations pushing us against a deadline so he can create this panic. We need to keep calm and if the President would work with us on some reasonable cuts, we’ll work with him on giving him an increase on the debt limit. Now is not the time to panic and do something else that is going to make our economy worse and cost us most jobs,” Sen. Jim DeMint (R-SC) said on The “Today” Show this morning.

Real Clear Politics

Canadian economy created 28,0000 jobs in June….US created 18,000

Comments Off on Canadian economy created 28,0000 jobs in June….US created 18,000

As you read this remember the United States has 10x the population of Canada…….

The Canadian economy created 28,000 jobs in June, helped by a gain in part-time jobs to post its third consecutive month of growth, Statistics Canada reported Friday.

Statistics Canada said the country’s unemployment rate held steady in June at 7.4 percent as the number of people entering the workforce increased.

The increase in jobs was mainly in the part-time sector, which added 21,000 jobs, compared with 7,000 new full-time jobs.

The public sector added 51,000 jobs in the month, while there were 22,000 new jobs in the private sector.

However, those gains were offset by a drop of 44,000 in the number of self-employed people in Canada.

The gains were led by the transportation and warehousing industry which saw a gain of 15,000 jobs, while the professional, scientific and technical services sector lost 19,000 jobs.

Economists had expected an overall increase of 10,000 jobs.

BMO deputy chief economist Douglas Porter called the report a small point in favor of the of the Bank of Canada gradually raising its key interest rate later this year.

“While the details of the release may not be as impressive as the sturdy headline gain, there is no denying that the Canadian job market continues to make impressive progress,” Porter said in a note to clients. “In the first half of 2011, the economy added 192,000 jobs, a faster pace than seen through 2010.”

Canada’s jobless rate has rebounded since the global recession, hovering at the lowest level since 2009 and has experienced a better market rebound than its fellow G-7 nations, amid trouble elsewhere, such as the European debt crisis and a comparatively weaker recovery in the United States.

The Bank of Canada has held its key policy rate steady at 1 percent since last September following three successive hikes to lift it from emergency lows. The central bank is expected to resume tightening gradually.

The Toronto stock market was lower Friday morning as the latest unemployment numbers from the United States showed job creation far weaker than expected during June, which reinforced fears that the American economy is stuck in a soft patch.

The Canadian results compared with a gain of just 18,000 jobs in the much larger U.S. economy for June and an unemployment rate at 9.2 percent, according to the U.S. Labor Department.

Vermont Today