And we're not likely to see some seismic shift in the Obama Doctrine anytime soon that would have us waking up to economic policies that make sense and stand a better-than-average chance of reversing the downward spiral for the 98% of us who are already clutching at whatever we can to avoid being swept down the drain.

Any rumors about where the jobs are coming from?  And are we talking well-paying jobs that take advantage of people's educations, or are we still talking about yes-ma'am-you-rang? do-you-want-fries-with-that? kinds of jobs?

Oh, and aren't we all pleased to know that our very own Harry Reid has endorsed a deficit cap?

The leader of the Democratic-controlled Senate said Wednesday that any legislation increasing the government's ability to borrow more money to meet its obligations should contain a cap on how big the deficit can be in any given year.

Majority Leader Harry Reid said the mechanism would involve a new law binding Congress to reduce the deficit. The Nevada Democrat didn't give further details, but several proposals on Capitol Hill would trigger automatic spending cuts or tax increases if Congress can't meet spending or deficit targets.

"You would just have a law that says we have to do it," Reid told reporters in a conference call. "There are all kinds of triggering mechanisms."

Even the Progressive Caucus is getting behind it.

Separately, leaders of two groups of House Democrats said Wednesday they would be open to a debt-ceiling measure that included controls on future federal spending, as long as those limits don't exempt Republican priorities, such as defense spending.

Reps. Jim Himes (D., Conn.) and Raul Grijalva (D., Ariz.) both signaled that they and their allies could vote in favor of such a debt-ceiling deal, even though they prefer a bill that doesn't include spending-limit conditions.

"I'm not saying I would vote against an encumbered bill, because at the end of the day we have to raise the debt ceiling," said Mr. Himes, vice chairman of the New Democratic Coalition, a centrist group of 42 lawmakers. Mr. Grijalva is co-chairman of the House Progressive Caucus, a coalition of 77 liberal Democrats who hold more than a third of the party's seats in that chamber.

So, why is it, that a simple, proven concept, "a rising tide lifts all boats,"  is too complicated for the bunch of Harvard business school PhD's surrounding Obama to understand.

New U.S. claims for unemployment benefits surprisingly rose last week to their highest level since January in a sign an anticipated recovery in labor markets may take time

New U.S. claims for unemployment benefits surprisingly rose last week to their highest level since January...

CNBC: Job Growth Will Sustain Economic Recovery

We aren't in a silo where additional fed dollars = automatic job increases. They help but the idea that things would be A-OK if fed policy changes gives a little too much power to fed policy. I think if we had our preferred policies there would be a change but not one so large that it would impact the election at this point.  Too many other unrelated negatives globally impacting demand, spending confidence and sourcing.

germany's unemployment, for example, stayed steady despite predictions that it would fall and its economy is really accelerating.

...claims for unemployment benefits surprisingly rose last week...