The Obama administration is 0-for-3 in meeting economic expectations. In 2009, President Obama and his advisers believed the bountiful stimulus package would give the economy a strong jolt. It didn’t, and still hasn’t. In 2010, Obama declared Recovery Summer and predicted a surge in employment. The economy lost 283,000 jobs over the summer. This year, Obama expected a significant ratcheting up of jobs and growth. There’s been a ratcheting down. Presidenting for Dummies Gary Locke The White House always has an excuse. Obama’s economic policies are never at fault. The problem in 2009, according to Obama? The economy was in worse shape than he’d feared when he took office. In 2010, economic adviser Christina Romer said the dip in jobs was unexpected. No doubt it was, but that’s a lame explanation. And Obama stubbornly refused to express regret for having proclaimed Recovery Summer in the first place. Now, two years after the recession officially ended, the excuses for economic stagnation and puny job growth are stale and implausible. Obama didn’t offer any in an economic speech in Toledo a few hours after bad job numbers for May were released last week. Romer’s replacement, Austan Goolsbee, dismissed the 9.1 percent jobless rate as a bump “along the road to recovery.” House Democratic whip Steny Hoyer blamed the Bush administration—really, he did. Yet Obama labors on as if his policies are working, only a bit more slowly than he’d anticipated. In two and a half years in the White House, he appears to have learned nothing about what stirs the economy and produces jobs and growth. Evidence of failure, like 1.8 percent growth in the first quarter of 2011, matters little. Rather than a midterm course correction, Obama wants more of the same, lots more. (Fred Barnes)
According to the unemployment data released this morning, the economy added only 54,000 jobs, pushing the unemployment rate up to 9.1 percent. However, this report from MarketWatch suggests the data is much worse than that:
McDonald’s ran a big hiring day on April 19 — after the Labor Department’s April survey for the payrolls report was conducted — in which 62,000 jobs were added. That’s not a net number, of course, and seasonal adjustment will reduce the Hamburglar impact on payrolls. (In simpler terms — restaurants always staff up for the summer; the Labor Department makes allowance for this effect.) Morgan Stanley estimates McDonald’s hiring will boost the overall number by 25,000 to 30,000. The Labor Department won’t detail an exact McDonald’s figure — they won’t identify any company they survey — but there will be data in the report to give a rough estimate.
If Morgan Stanley is correct, about half of last month’s job growth came from the venerable fast-food chain. That is hardly the sign of a healthy economy. (Weekly Standard).
And McDonalds was the first of over 1,300+ companies and organization (and even states) to get ObamaCare waivers. Coincidence?? 🙂
But you won’t hear it from the Mainstream Ministry of Truth Press or even our Dear Leader.
President Barack Obama says the U.S. economy is still facing challenges and it is going to take more time to mend the wounds inflicted by the recession.
So you need to re-elect him in 2012 so he can finish the job. <<wink wink>>
“Every time we look at those numbers we don’t get too excited by what those numbers say, or we don’t get too disappointed by what those numbers say. What we’re looking at is the overall trend,” spokesman Josh Earnest told reporters traveling with the president on Air Force One. “If you look at where we’ve come from, the turnaround is pretty dramatic.”
He’s serious, folks. Really, he’s serious…
Distancing himself from new economic sputters, President Barack Obama on Saturday declared that recent “headwinds” were the result of high gasoline prices, Japan’s disastrous earthquake and jitters over a European fiscal crisis. He cited the U.S. auto industry’s resurgence as an inspiration for a broader recovery.
“We’re a people who don’t give up, who do big things, who shape our own destiny,” the president said in his weekly radio and Internet address.
<<Barf bag on Standby>>
Sen Lamar Alexander (R-TN) cited a perfect Obama example of the ‘right kind’ of job our Dear Leader wants and if he can’t get it, f*ck it!
He cited the case of Boeing, which was accused last month by the National Labor Relations Board of retaliating against union workers in Washington state who went on strike in 2008 by locating a new assembly line for its 787 aircraft in South Carolina, a state with right-to-work laws. The NLRB is seeking a court order that would force Boeing to return all 787 assembly work to Washington.
Obama promoted “investments” in education and technology, and touted his management of the auto industry, which he said saved millions of jobs.
The Bush and Obama administrations pumped $80 billion in taxpayer money into Chrysler and GM, with Obama guiding the companies into bankruptcy. The companies are now reporting profits, Chrysler has paid back all but $1.3 billion of its federal infusion, and the White House declared this week that the overall loss to taxpayers will be $14 billion, far less than initially expected.
And that’s the Good News!? 😦
The president also called for spending cuts and hinted at tax increases. “We’ve got to live within our means, everybody’s got to do their part,” he said. ”Middle-class workers like you, though, shouldn’t be bearing all the burden. You work too hard for someone to ask you to pay more so that somebody who’s making millions or billions of dollars can pay less.”
Obama evoked national pride: “[W]e are people who will forge a better future because that is what we do… when we come together, no-one can stop us” – then reprised his ‘Win the Future’ slogan and declared that “we can live out the American dream again… that’s what drives me every day I step into the Oval office.”
<<excuse me>> RALPH!….
“We’re still feeling the sting of the recession… even though the economy is growing, even though it has created more than 2 million jobs in the last 15 months,”
Consider the evidence: We already know that (a) the president appointed a debt commission, then ignored its recommendations on ideological grounds; (b) the White House has already released its 2012 budget, which was so disastrous that it received zero votes in the Democrat-controlled Senate; (c) President Obama offered a grand new “vision” for entitlement reform in April, which conspicuously lacked any actual solutions; and (d) Democrats everywhere are deliberately avoiding committing to any plan of their own, opting instead to focus their attention on demagoguing and lying about Paul Ryan’s responsible alternative. Against that backdrop, ta da! (Nice catch by ABC Newsman Jake Tapper, based on his exchange with White House Press Secretary Jay Carney):
TAPPER: In the meeting yesterday with House Republicans, a number of the House Republicans said to the president that they wanted him to introduce a budget that was score-able — that CBO could actually assess — instead of what he introduced, the broad outlines and the April speech at GW, and the president seemed to indicate he was not going to do that. You — I think you said from the podium that he wanted something score-able that was part of a compromise, not his own separate budget proposal. Why not? If the Republicans in the House are saying it would help the negotiating process to have a score-able —
CARNEY: Well, we heard two things — we heard two things from the Republicans yesterday: one from the speaker that we need to get these negotiations wrapped up and finished in the next few weeks, and that the president should put forward a new plan, a new proposal, that should make its way through Congress and be scored. I don’t think those are compatible.
Everyone knows what the president’s position is, what his plan is, the parameters of his plan. It’s quite clear. The Democrats are aware of it. Republicans are aware of it. The president’s spoken about it at length.
And that is what the vice president brought to the table for these negotiations. We are at a point now where we don’t need new plans. We need to find common ground around the shared goal of significant deficit reduction and come together, hold hands, and agree that we’re going to get this done and find as much common ground as we can in what the president believes needs to be a balanced approach towards deficit reduction — because as I said earlier, it is not a goal unto itself.
Translation: Uh, we have a plan! (They don’t). It’s very clear! (By definition, it isn’t) So, we don’t need any, you know, score-able blueprints. We need bipartisan consensus! (Just like Simpson/Bowles?) Another gutless runaround from Democrats on entitlements — color me shocked. Hey, no worries — it’s not as if Medicare is cataclysmically speeding toward insolvency, or anything. (Guy Benson).
So what if the National Debt is over $14 Trillion. The Democrats haven’t passed a budget is April 2009. There’s a Double Dip recession on the horizon. Your house is worthless…But Obama is still in Large and In Charge!
Re-Elect him! He’s wonderful!
Hope and Change II is on the way…
The Next Disney Fantasy…