This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs