Morning Must Reads: Return

Senator-elect Mark Kirk meets with democratic rival Alexi Giannoulias at the Billy Goat Tavern November 3, in Chicago. (Photo by Frank Polich/Getty Images)

–The economy added 151,000 jobs in October, with private sector gains significantly outstripping government losses. The labor force shrank and the overall unemployment rate remained at 9.6 percent, but all in all, it’s the brightest monthly report in some time.

–The stock market returns to pre-Lehman levels.

–Ronald Brownstein sizes up the state of the Democratic electorate.

–Obama eagerly blames the message, which allows him eat some humble pie while defending his policy decisions to the last.

–Molly Ball has a worthwhile look at how Harry Reid’s game plan bested the terrible climate.

–Kevin Drum rummages around in the exit polls for some interests nuggets.

–What about the GOP moderates?

–Pelosi floats staying on as minority leader. Jeremy Jacobs thinks it’s a “lead trial balloon.”

–Jon Ward reports some House Republicans are trying to torpedo Michele Bachmann’s bid for a leadership post.

–Nate Silver rates pollsters, finds Rasmussen wanting.

–And Jon Stewart has Tim Geithner’s ear.

What did I miss?

E-mail Adam

Related Topics: 2012 Election, Barack Obama, Democratic Party, Economy, Harry Reid, Miscellany, Senate, Tea Party, White House
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  • hippooath

    I’m sure the meme being written right now is that in anticipation of the republican win companies started hiring.

    Why not – who’s going to tell the truth anyways?

  • ogliberal

    My first thought’s exactly. But then they are predictable, aren’t they? Had this stock market increase and jobs improvement (well, improvement from extremely horrible to pretty terrible) occurred under a GOP president they’d call it an economic miracle.

    Also, how many people know that the 2009 deficit, which was attached to the last Bush budget, came in at $1.416 trillion while the 2010, attached to Obama’s first budget, came in at $1.294 trillion. So Obama reduced Bush’s deficit. Expire the tax cuts for the over $250K demographic (or even raise that ceiling to $500K or $1M) and you’ll see the deficit drop even more.

  • charlieromeobravo

    “–What about the GOP moderates?”

    Lol. What about unicorns and fairies while we’re at it? :-)

  • allthingsinaname

    Really? Are there Republican moderates? Did they vote moderately in the last two years? Or do we just get to declare what we are?

  • nflfoghorn

    Maybe ’cause I was out of pocket yesterday…but did anyone go over that $200M/day trip? That classic example of BO’s enemies MSU with steroids?

  • charlieromeobravo

    “Expire the tax cuts for the over $250K demographic and you’ll see the deficit drop even more.”
    .
    Pfff! Not possible. Everyone knows that reducing taxes increases revenues.*
    .
    .
    .
    .
    *if you’re a 3rd world developing nation

  • nflfoghorn

    There’s no cream-filled center far as I can tell. :)

  • charlieromeobravo

    That only seems to be getting traction on wing nut blogs and Fox News. Every other outlet that I’ve seen mention that story has been laughing at it.

  • nflfoghorn

    This election proved that a lot of people buy crap and think it’s gold. Even the neocon hosts sell gold and think it’s crap. We’re left to go figure, COR!

  • nflfoghorn

    Oops – CRB :)

  • allthingsinaname

    “The stock market returns to pre-Lehman levels. ”
    .
    Will the Press remember that it happened with the Dem in control? Will the Press remember that it was helped along by the stimulus? Or will it let the Republicans take credit, like it let them skate and blame the Dems for the economy?

  • ogliberal

    Exit polls show that moderates (in general, not broken out by party affiliation) voted for the Dems in this election by a 55-42% margin. That’s a slightly smaller gap than the 60-38 one the Dems realized in 2008 but it still looks like moderates feel like the Democratic party is a better home for them than the GOP. The difference this year is that a lot of Dems and moderates stayed home – 55% of the votes the GOP received in 2008 came from conservatives, v. 66% this year. Their moderate vote total in 2008 was 40%…that dropped to 31% this year.
    ++++
    Of course, many of these moderates are probably Dem leaning because, as noted, there really aren’t any GOP moderates left, not in Congress and not among rank-and-file voters.
    ++++
    More here (and yeah, I know it’s on Kos, wingers, but the numbers are from CNN exit polls. O, wait…CNN is the American version of Pravda….o, nevermind):
    ++++
    http://www.dailykos.com/storyonly/2010/11/4/917466/-Dems-win-moderates,-conservatives-dominate-GOP
    ++++
    Also from the exit polls, McCain and Obama voters were split 45-45. Obama won by 7 in 2008. Translation – a lot of Obama voters stayed home. This is typical of mid-terms where the electorate is older, white, and more conservative. But that’s a big swing…and these voters didn’t stay home because the Dems were too liberal.

  • diecash1

    Will the Press remember

    You don’t really have to ask, do you? Of course they won’t. It wouldn’t fit the narrative. The stock market is all about future expectations and it (we) must have been expecting the results from Tuesday. Of course that’s why the market has gone up. [/BS media narrative]

  • nflfoghorn

    If CNN = Pravda, then Flox = …
    the Taliban???

  • doubleang

    I wonder how many of those jobs are just seasonal though? My dad has been out of work for some time, and spent several months working for the census while that was going on, and just recently got a seasonal job driving for Fedex for the holidays.

  • Ivy_B

    Indeed those hiring numbers were for October, not November, but why let that stop them from crediting the election? The pundits all told us what would happen – maybe that’s why so many stayed home, they thought the election had already happened.
    .
    After all, the deficit was higher in the last month of Bush’s presidency than in the beginning of Obama’s (it was smaller in the first month,) but the Dems got no credit for that and were blamed instead.
    .
    I really think this is partly why the Dems are so bad with message. They don’t take any little thing and twist it to their advantage.

  • http://forgottenlord.livejournal.com forgottenlord

    Strange story developing up in Canada: an old man boards a plane in Hong Kong, departs the plane in his 20s. No, this is not Benjamin Button, just a really good disguise. http://www.cbc.ca/canada/story/2010/11/05/disguise-csba-airplane.html

  • http://forgottenlord.livejournal.com forgottenlord

    On a very different note, did anyone else find themselves cringing on how the rosy jobs report came 2 days after the shellacking?

  • http://2thirdsrocks.wordpress.com 2thirdsrocks

    Now now, let’s not forget who held the majority in both houses in the last months (actually the last 2 yrs.) of Bush’s presidency.
    .
    A fact that always seems to be strangely absent in these typical lib arguments.

  • http://2thirdsrocks.wordpress.com 2thirdsrocks

    Um, you call that rosy? The national unemployment rate didn’t change, and in my neck of the woods the jobs are still dissappearing at a breakneck pace.

  • http://forgottenlord.livejournal.com forgottenlord

    The worst months during this recession lost 500K jobs. After a month where there was a net loss of jobs, having a month that counters a quarter of the worst month is a rosy jobs report.

  • pelhamite1

    Even allowing for the idea that it is pretty easy to be tabbed a “moderate” these days – all you have to do is not foam at the mouth or spout utter drivel – there are some Republicans who got elected who are not crazy. Charlie Bass of New Hampshire and Nan Hayworth of New York (who I spent Election Day campaigning against but still . . ) are two of them, and left to their own devices wouldn’t be horrible, but the context in which they will be working will allow them no opportunity to have any positive or “moderating” impact. The leadership is committed to frustrating Obama at every turn and we will soon be at a state of utter stasis. For better or worse, we will have a break from the current cycle, where we obssessively follow legislation through its agonizing progress and desperately count noses in the Senate, to a more serene existence in which the Congress is more or less irrelevant.

  • ogliberal

    third rock from reality:
    ++++
    And the Congressional Dems passed exactly what legislation that led to the financial crisis? Remind me again about the wonderfully socialist legislation Pelosi rammed down the throats of Congress that Bush signed into law.
    ++++
    O, the Dems didn’t pass anything but then they didn’t offer any solutions either? Well, where were the solutions the GOP offered up when they essentially ran the whole show from 2001 through January 2007? Budget busting tax cuts for wealthy people? Budget busting Medicare D? Budget busting wars? Do tell.
    ++++
    I know…it’s all the fault of CRA and Freddie and Fannie…giving too much damned money to the lazy negroes so that they could buy housse in which to store their dozens of pairs of hi-tops and Xboxes. Glad to see the GOP did so much to fix those perceived problems when they held the reins of power for 6 years.

  • ogliberal

    The folks most hurting jobs-wise – by far – are blacks, followed by Latinos, followed by young people. Check out their jobless rates v., say, whites over 30. These are the same people the tea partiers blame for all of our nation’s woes. So our most disadvantaged citizens are our biggest problem? Nice worldview.
    ++++
    And there’s a reason these folks didn’t show up last Tuesday. They have bigger things to worry about….they’re working extra hours, or trying to find jobs, or worrying about how they’re going to pay next month’s rent (which is, of course, too d**n high). The tea party crowd has no problem using their Medicare provided Hoverrounds to haul their retired, Social Security collecting arses to the polls.

  • herby002

    8.1 – 2thirdsrocks,

    “Um, you call that rosy? The national unemployment rate didn’t change, and in my neck of the woods the jobs are still dissappearing at a breakneck pace.”

    So, uh…

    You have the House, and a bunch more Senator NOs and a Supreme Court majority that bends over (to present either bows or buttocks) whenever a business-friendly lawsuit comes up on the docket.

    What are you going to do about it?

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