The Employment Numbers are Out, and We Are Boned

Unemployment remains at 9.6%, and non-farm payrolls fell by 95,000, driven largely by cuts in state and local governments.

The Obama administration is arguing that the growth of 65,000 jobs in the private sector show an (anemic) recovery, but this won't help in November.

The numbers suck, they have sucked, and initial weak tea stimulus is running out.

Not good.