CNBC’s Squawk Box blamed Sen. Ted Cruz (R-TX) for Tuesday’s disappointing jobs numbers, predicting that his effort to shut down the federal government depressed job creation and added to growing business uncertainty. The 16-day shutdown will also skew economic data and have “real-world ramifications” on the economy, the New York Times reported on Wednesday.
But CNBC took a lighter, if more strange, tone. “We’re going to call this the Sen. Ted Cruz jobs report and the jobless claims of Sen. Ted Cruz,” Steve Liesman, a senior economics reporter for the network, said Tuesday as the Texas senator’s pictures flashed on screen. “There he is, there he is,” he exclaimed. “Can we get some music to go along with that, some Mexican music maybe?” Watch it:
Cruz is Hispanic, but he isn’t Mexican: Cruz was born in Calgary, Alberta to an American mother and a Cuban father. He doesn’t fit Liesman’s stereotypes, but he does bear some of the blame for the anemic jobs report.
A recent analysis from the White House’s Council of Economic Advisers (CEA) found that the economic uncertainty over the first two weeks of October reduced economic output by 0.25 percent in the fourth quarter of this year and cost about 120,000 private sector jobs. The economy added 148,000 jobs in September, falling 37,000 jobs short of expectations.
“I do think the brinkmanship and the uncertainty created by what’s going on in Washington, and that’s a broad statement, not just the shutdown and it’s not just the debt limit. Everything going on in Washington has weighed on the collective psyche and the willingness of businesses to engage,” Mark Zandi, Moody’s Analytics Chief Economist, said on CNBC.
(HT: The Blaze)