NO STIMULATION FROM THE STIMULUS – AT 8:55 A.M. ET:  The jobs picture for December, hyped in advance as a probable gift from the gods, turned out to be no such thing, as the Washington Post reports:

WASHINGTON -- The economy lost more jobs in December and the unemployment rate was unchanged, as a sluggish economic recovery has yet to revive hiring among the nation's employers.

The Labor Department says employers cut 85,000 jobs last month, worse than the 8,000 drop analysts expected.

A sharp drop in the labor force, a sign more of the jobless are giving up on their search for work, kept the unemployment rate at 10 percent, the same as in November. Once people stop looking for jobs, they are no longer counted among the unemployed.

COMMENT:  And in the midst of this, Congress is about to break the bank with a hugely expensive health-care package, only months after passing a hugely expensive stimulus plan.  The stimulus didn't stimulate many jobs, apparently, except maybe at ACORN, which is always hiring. 

Barring a catastrophic terror attack, the economy will be the big issue in the 2010 midterms.  So far, the Dems get an F.

January 8, 2010