This month's job numbers probably hit the Obama campaign like a cold shower. The economy add just 65,000 net non-farm jobs and the overall unemployment rate ticked upward from 8.1 to 8.2 percent. Yes, Obama it is time to panic. The forecasts on CNBC prior to the release of the data ranged from unchanged to down point 1 percent. For the third year in a row the economy has stalled in late spring.
The most pessimistic prediction came from the former chair of Obama Council of Economic Advisors, Austan Goolsbee. Obama's odds for reelection fell 2.5% on Intrade just after the the report was released!
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