Where's the Campaign Jobs Chatter?
NEW YORK ( TheStreet) -- What happened to all of the talk during Barack Obama's campaign about jobs?
The tenor of fiscal cliff negotiations have dominated headlines since the election with the talk among congressional leaders and the president mostly focused on taxes (new revenue) and spending cuts.
The president, however, has largely focused on middle-class tax cuts as the vehicle to gather support for his budget proposals to avoid the so-called fiscal cliff -- when tax relief measures and deep spending cuts will automatically go into effect at the beginning of 2013.
"The major issue that we have right now is the unemployment rate," said David Giunta, chief executive for Natixis Global Asset Management's U.S. Distribution. "What hopefully will happen is if we can reach an agreement and people have confidence that it's a balanced agreement that is good for the country in the long term, then companies will be more likely to hire."On Monday morning, the White House was out with a 14-page document that detailed the possible implications for consumers and retailers if Congress doesn't extend tax cuts for the middle class. The White House was back at it again on Tuesday, releasing an e-mail with a bar chart said to illustrate the dip in consumer spending that could occur in 2013 if Congress does not act. The push by the Obama administration to address the fiscal cliff as it pertains to middle-class individual households and income earners is likely the president's attempt to gain as much support of the various details in his specific budget plan before Republicans make a detailed push for their own concessions. This became more apparent when reports surfaced that Obama would be embarking on a road show to defend his budget plan to Americans across the country. Jobs aren't inherently ignored, but the discussion of lowering unemployment continuously is coupled with the mention of tax cuts for the middle class. White House Press Secretary Jay Carney even said on Monday that politicians must address "longer-term fiscal challenges in a way that grows the economy and creates jobs." But even that statement was prefaced by the need to extend tax cuts for the middle class.
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