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Obama Laments New Job Losses

Political pop quiz: What could be more important in this race than that combative, buzz-driving VP debate?

Well, the new job loss figures are in. For the ninth straight month, U.S. jobs are down — this time by 159,000. “The decline in non-farm employment was the steepest in five years,” reports The New York Times.

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The Obama campaign took a break from debate spinning to release a quick reaction from the Democratic nominee.

“With three-quarters of a million jobs lost this year, and millions of families struggling to pay the bills and stay in their homes, this country can’t afford Sen. McCain’s plan to give America four more years of the same policies that have devastated our middle-class and our economy for the last eight,” Obama said in a prepared statement. “Instead of Sen. McCain’s plan to give tax breaks to CEOs and companies that ship jobs overseas, I will rebuild the middle-class and create millions of new jobs by investing in infrastructure and renewable energy that will reduce our dependence on oil from the Middle East.”

Then Obama turned to the bailout that he voted for on Wednesday. “I also call on Congress to pass an immediate** rescue plan** for our middle-class that will provide tax relief, save one million jobs and save our local communities from harmful budget cuts and painful tax increases,” he said, (emphasis added).

Ever since Obama decided to fully back the White House bailout bill, he has started calling it a rescue plan. No one knows, however, if it will rescue jobs beyond Wall Street.

Photo credit: Kandyjaxx Flickr

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