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This Is Sort of a Big Deal

Haosurcygedpffak2g93
Newscom

One thing to note is that this apparently puts President Obama past the net jobs creator threshold -- a meaningless economic statistic but one that carries some political weight and one I suspect we'll start hearing on the campaign trail.

But what really strikes me is this. It's been something of a mystery across the political spectrum why President Obama has been able to weather the soft economy as well as he has. There are many factors -- context of the Great Recession, personal favorability of the man himself, etc. But if this sort of upward revision continues for the numbers in the summer and fall of 2012 it may turn out that there's another explanation: that the economy was in at least somewhat better shape than we thought and this was showing up in the political numbers more clearly than in the first draft economic data.