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Saturday, May 07, 2011

StreetInsider.com - Obama's Big Week

May 6, 2011 2:00 PM EDT

President Barack Obama may have just had the best week of his life. Not only did the President make the crucial call to storm a secretive compound in Pakistan that resulted in the killing Osama bin Laden, but on Friday he received a better-than-expected jobs number that is showing clear signs that the economy is improving.

In a dramatic appearance Sunday evening, President Barack Obama announced that the world's most wanted man had been killed. Bin Laden was found in a large compound in Abbottabad, about one hour north of the Pakistan capital of Islamabad. U.S. special operation forces, including an elite U.S. Navy Seals unit, stormed the compound and killed bin Laden. His body was buried at sea.

To say that the U.S. celebrated his death would be a understatement. While partying and high-fiving was kept to a minimum, there is a deep satisfaction in every U.S.. citizen that this scum-of-the earth was finally executed.

While the bin Laden news is something that can carry the President for months, he got a surprise piece of good news Friday with the jobs report.

Much to the surprise of Wall Street, the US economy added a total of 244,000 nonfarm jobs last month, above the 185,000 economists had been expecting. The change in nonfarm payrolls for March was revised slightly higher from 216,000 to 221,000.

With the President riding a tide of good news, Republicans are getting nervous about upcoming 2012 Presidential elections. Poll numbers will likely show a big jump in approval for Obama. If the economy can gain some traction the Bin Laden boost may hold - giving Republicans an uphill battle to retake the White House.StreetInsider.com - Obama's Big Week

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