Long term unemployment and Obama (updated)

Obama's "jobs bill" is primarily a political prop to use against Republicans from Obama's bully pulpit.  That much is clear, as he has telegraphed his desire to run a Truman-like campaign against a do-nothing Congress. But sometimes the details reveal his own weakness. One feature of the bill highlights a big problem for Obama that opponents should latch on to as 2012 approaches.  That feature is the $4,000 tax credit to employers for hiring long-term unemployed workers . Those would be workers who have been without work for 6 months. Clearly, Obama is worried that Republicans will continue to emphasize not just the high unemployment rate but the fact that the long-term unemployment rate is staggeringly high. The average duration of unemployment has climbed to record highs and about 44 percent of jobless workers have not had a job in six months.  Mitt Romney and others have sharpened their focus on this fact --  a devastating figure for a President and a party that...(Read Full Post)