The job-killing policies of the Obama Administration that we keep hearing about are failing to live up the job-killing hype.
According to the Institute for Supply Management, U.S. manufacturing employment rose to its highest level in nearly a year during the month of April.
NEW YORK — The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday and put the Dow Jones industrial average on track for its highest close in more than four years.
U.S. manufacturing expanded last month at the strongest pace since June, according to the Institute for Supply Management. Orders, hiring and production all rose. A measure of manufacturing employment also reached a nine-month high, a hopeful sign ahead of Friday’s monthly jobs report.
The manufacturing news jolted stock indexes out of a morning stupor, and the gains held through the afternoon. The Dow was up 106 points to 13,320 as of 2 p.m. EDT. That put the average on course for its highest close since Dec. 28, 2007.
The good or bad news -- depending on how you look at it -- is that absent a government shutdown, which I highly doubt even the Republicans are batshit enough to risk two months before an election, they have few, if any, opportunities left to sabotage the economy between now and November.
The transportation bill currently pending in congress is one opportunity they do have, but the closer we get to the election, the less likely it is that they will be willing to push that big red button.
We've already seen two temporary extensions of current transportation spending levels, which clearly demonstrates that talk is cheap and actions are expensive.