Morning Bell: It’s Just Lipstick on a Pig, Mr. President

Mike Brownfield / May 06, 2011

Despite the good news this week about Osama bin Laden’s demise, all is not rosy for President Barack Obama — at least in the eyes of the American people. The approval of his handling of the economy hit an all-time low with only 34 percent of Americans giving him a thumbs up, according to a CBS/New York Times poll.

Looking for a reason why? According to the Labor Department’s monthly jobs report, unemployment rose from 8.8 percent to 9 percent in April. And though the U.S. economy added 244,000 jobs, beating expectations, the bad news is that when the bar for success is set so low, even increasing unemployment and decent job growth can seem like a silver lining on a dark and stormy cloud. Or if you want another metaphor, try “lipstick on a pig.” (more…)