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Politicians Seek Credit in Rising Economy

When it comes to increased hiring, lower unemployment and a rising stock market, is there credit to pass around?

Travelpix Ltd, Getty Images

It’s a hotly debated point in Washington, where political scorekeeping amounts to who gets blame and who gets praise.

Following Friday’s strong jobs report — 236,000 new jobs and unemployment dropping to a four-year low of 7.7 percent –partisans hurriedly staked out turf.

Allies of President Barack Obama cheered while Republicans complained the recovery was too slow. From a policy standpoint, the Federal Reserve has been at the recovery forefront, pumping trillions of dollars into the economy, keeping interests rates near zero and pushing investors away from low-yield bonds to stocks.

Yet the coming budget cuts present nagging questions about the resilience of the economy and whether current gains might fade.

 

(Copyright 2013 by The Associated Press. All Rights Reserved.)

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