Dismal Economy Doesn’t Bother Obama
How do you spin consistently low data for job growth and consistently high unemployment data? If you’re President Obama, you ignore unemployment and tout far-below-expectation job growth as a good thing.
It seems like no matter how many jobs were created during the previous administration, the media only cited the unemployment numbers or some other factor (like how the job numbers were far below what was expected and nowhere near what is needed to get our country back on track) in order to try and claim that throughout his presidency he failed.
However, with President Obama, miniscule increases in job growth are acceptable. It’s absurd.
We also have to look at the unemployment numbers. 9.1% of Americans who are looking for work are out of work, and remember, of the last ten incumbent Presidents, 7 won re-election, and they all had unemployment numbers at or below 7.2%. The three that lost, (Ford, Carter and Bush, Sr.) all had unemployment rates of 7.4% or higher. Reagan was the only one with 7.2% unemployment, but Americans felt the country was heading in the right direction at that time, since unemployment had dropped sharply from 10.8% in just 18 months.
President Obama has a long way to go to reach 7.2% unemployment. Most economists don’t see that as a possibility between now and the 2012 elections. Even to get below 8%, 209,000 jobs would have to be created each month between now and then. In May, just 54,000 jobs were created.
Yet President Obama is touting that number as evidence he saved the country. Unfortunately for the President, half of those jobs created were due to one employer: McDonald’s. And other than a waiver from an Obamacare provision, what has this administration done to allow McDonald’s to innovate and expand? Considering the White House’s health food kick and the desire of many on the left to abolish the Happy Meal, the answer is not much.
If folks like Michelle Obama had their way, McDonald’s wouldn’t even exist anymore. And nothing this administration did helped the food giant to hire, they did that on their own. That’s how most jobs in a free market system are created.
And what about the length of time some have been unemployed? Nearly 1 in 3 unemployed have been out of work for over a year. At some point, President Obama has to admit that this is his economy (he still blames Bush) and that his policies are hindering job growth.
Ben White wrote for Politico that there isn’t much the President can do for the economy. While that may be true from a Keynesian sense, the President can certainly take steps to unleash America’s entrepreneurial spirit, steps which he has thoroughly rejected. The President could open up domestic drilling; he could give the business community some certainty by making the Bush tax cuts permanent and lowering the coporate tax rate. If employers know what they will be paying in taxes, then they will be more inclined to make business decisions that will play out over the coming years.
Of course, the left’s default answer for a failing economy is to blame conservatives. Yet when the GOP offers up tied and true proposals to spur the economy, they are shot down as “the same old ideas.” Maybe it’s time to give those “same old ideas” a chance.