How is 7.7% unemployment considered good news? When it's a little less than 7.9%, and people with money are ready to find good news wherever they look.
The housing markets are booming, where the rich people live. The stock markets haven't gone so high since Dick Cheney was in the White House—except for the NASDAQ, which still hasn't recovered completely from the dot-com bust of 2000, even though the tech companies are doing pretty well and NASDAQ stocks are at a 12-year high. Monthly rents in San Francisco now average $2,700 for a one-bedroom apartment. New car sales are back to pre-recession numbers.
And 12 million working-age Americans who want to work cannot find a job. That's the population of Los Angeles County plus the population of the city of Los Angeles again. Or nearly double the Bay Area population, or millions more than the entire population of New York City. What a wonderful time to finally start cracking down on entitlements! Austerity is not only the answer to budget problems, but also the answer to amoral laziness. Also let's stop giving vaccines to poor children, as they will only grow up to be unemployed.