Skip to comments.Obama’s Fourth Recovery Summer Ends
Posted on 10/01/2012 5:22:53 AM PDT by IbJensen
So, are you better off today than you were in 2009?
One of the stunning things about the utterly supine press in the United States is that we have lived through the worst four years of economic mismanagement in this nations history. Not even Gerald Ford wearing his WIN (Whip Inflation Now) button and Jimmy Carter declared energy independence as the Moral Equivalence Of War (a contender for the unfortunate acronym award: MEOW) can compete with the utter fecklessness of this administration.
By any conceivable measure, we are much worse off today than we were four years ago. In the best areas of the economy we are stagnant.
Unemployment has only been kept down below 9% by the clever tactic of reducing labor force participation. For men, the labor force participation rate is the lowest on record.
Household income is in a nosedive, dropping an unprecedented 8.2% since Obama began his one-man campaign to turn us into a Third World ineptocracy.
Nearly 47 million Americans rely on food stamps. This reflects an increase of about 12 million people over the highest level under President Bush.
There is no sign that economic activity is coming back. Manufacturing orders fell by 13.2% in August. The GDP annual growth rate was scaled back from a previously anemic 1.7% to an absolutely ossified 1.3%. This growth rate will not keep pace with new entrants to the workforce combined with the rate of inflation. Essentially our economy has stalled and may be contracting in real terms.
While the Obama Cargo Cult is out touting more college loans to train people for careers that do not exist, and will not exist under a Democrat administration, students with college loans have been defaulting at a glorious rate. 9.1% of all student loans were in default according to most recent data. Of course, the upside I suppose to that is that virtually all student debt is now owed to the government so this just means more debt for our posterity to deal with.
In a just world, Barack Obama would have fallen to a primary challenger. But hes been carried on by a press that only grudgingly covers bad economic news and refuses to attach to either Obama or his administration any responsibility for anything.
But it wont.
Economic growth grew at an incredibly sluggish 1.3 percent in the second quarter, revised down from 1.7 percent. According to business writer Jim Pethokoukis, this is dangerously slow. However, NBC skipped the bad news for Barack Obama entirely. ABC allowed it a mere 21 seconds. CBS was the only network to allow the story a full report.
Although Nightly News correspondent Chuck Todd couldnt find time to mention the scant amount of growth, he did hype the fact that the President is trying a new line. Todd then played a clip of the President calling for a new economic patriotism. The journalist helpfully parroted that the Presidents idea of economic patriotism includes tax hikes on the wealthy and more government spending on infrastructure.
America was inevitably headed downhill towards a gigantic landfill, but zero has exceeded our worse expectations. In addition to the financial situation we are in, we are exposed to terrorist attacks because of his refusal to admit that we are in a war where the enemy does not wear a uniform and Al Queda is not going to give up.
I know it's not a nice way to start the day but it's all true.
i read the IBD editorials in the summer of 2008 and they did a great job of vetting Obama, it's too bad that Obama voters wouldn't know where to find them or have the inclination to read them.
If the American people reelect this vapid failure, then it will be clear that the dependent and decadent have ascended beyond the productive and virtuous. The ascendancy of the decadent has always been the fatal flaw of all democracies.
You are correct. I was thinking the same thing. If this election cannot be won, elections on a national scale may have become unwinnable due to the tipping point. This has been such a dramatic failure on so many levels. There is a total void in leadership. We have basically swept every election since 2009 in response, we have led on most of the main issues consistently for almost three years. The Democrats are horribly unpopular. Yet it now seems possible that the army of takers can be whooped up once every four years to deliver their free stuff.
Quietly over the years that pidture disappeared. It was removed by leftist 'educators' who would gladly tack up one of the tacky, phony, unvetted Barack Hussein Obama, the worst enemy this nation has ever seen!
Yes, indeed. As I recall it was the one that was unfinished. Didn't know it has been replaced by a portrait of the Obamanation.
Get your fracking feet off OUR desk!!
Yes, a picture of George Washington was prominent in every classroom, school, public office and most homes before the nation lost its way.
Every schoolkid knew George Washington as Father Of The Nation.
In my mind he deserved it then and still does today.
He is by far the greatest president we have ever had.
No other president rates close to George Washington in selfless sacrifice, contributions, character or leadership.
It is heartbreskingly sad to see the country founded and led by a giant of a man like Washington now being destroyed by a pipsqueak like Barack Obama - a worthless, insignificant pissant of a man.
With NO Recovery (things are actually worse) and he has the audacity to want four more!!!
And, damnit, there’s still half a nation that doesn’t understand why the price of gasoline and diesel has increased by 2 times since this imbecilic phony has taken over the White Hut.
They fail to realize the the government ‘job’ this empty suit is doing has made him a millionaire! He gets paid for fracking the nation.