Posted on 07/07/2012 6:14:31 AM PDT by no dems
Obama needed a filet mignon in the June employment report. But instead he got a rubber chicken.
Only 80,000 new jobs were created last month, way below Wall Street expectations. It’s the fourth consecutive monthly disappointment. For a few months last winter, jobs were rising at an average of 225,000 a month. But that has sloped way down to only 75,000. The unemployment rate continues at 8.2 percent, which is the forty-first straight month above 8 percent. The U6 unemployment rate, which includes discouraged workers, is just under 15 percent.
As voters finalize their election impressions this summer, all of this is bad news for the Chicago incumbent.
In a campaign stop in Ohio on Friday, Obama actually said we’re still “heading in the right direction.” Is he kidding? As a stagnant GDP drops below 2 percent, employment falters, retail sales decline, and the ISM index for manufacturing drops below 50 (signaling contraction)? No objective observer can deny that the economy is headed in the wrong direction.
I don’t like playing the pessimist, but the numbers are the numbers. This is exactly what former Clinton advisers James Carville, Doug Schoen, and Stanley Greenberg have been warning Obama about. People just don’t believe the economy is getting better. So he’s gotta change his message.
But what change? Taxing rich people won’t create jobs. Neither will bashing Bain Capital. Obama is surrounded by leftist campaign advisers. And it’s hard to see them shifting gears to something constructive like making a summer deal to extend the Bush tax cuts for a year, or heaven forbid backing off the 20-some-odd tax hikes embodied in Obamacare.
In other words, Obama’s goose may already be cooked.
The Joint Economic Committee (JEC), spearheaded by Texas congressman Kevin Brady, put out a report saying that the Obama recovery now ranks dead last in modern times. That’s a real milestone in the post-WWII era. It’s ten out of ten for both jobs and economic growth. According to the Bureau of Economic Analysis, real GDP has expanded only 6.7 percent over the eleven-quarter recovery since the recession ended. The Reagan recovery at the same stage had increased by 17.6 percent. The Clinton recovery by 8.7 percent.
As for jobs, the Bureau of Labor Statistics reports that the number of private-sector jobs has grown by only 4.1 percent since the cyclical low point. Reagan’s record was 10.7 percent.
So much for Obamanomics. Didn’t work. Still isn’t working. As the JEC put it, spending stimulus, housing bailouts, auto bailouts, financial bailouts, cash for clunkers, cash for caulkers, and $5 trillion in deficit spending left the Obama recovery dead last in modern times.
Whatever happened to the great boom of the ’80s and ’90s, when the animal spirits were strong and the American economy wasn’t held hostage by Europe or China? In an odd twist, both Obama and his top economist Alan Krueger blame “problems built up over decades.” Does that mean they blame Clinton? Reagan?
For nearly 25 years -- during those bad old decades -- the economy increased 3.3 percent annually. Unemployment dropped from 11 percent to 6 percent to 5 percent to below 4 percent. Obama would swoon for numbers like that. But those statistics come from the era when big government was over, when pro-market forces stopped the expansion of Leviathan, and when marginal tax rates were slashed to grow the economy.
Now the question is, with Obama’s economic goose cooked, does Mitt Romney have what it takes to win the election and provide a pro-growth economic model that will restore prosperity at home and America’s number-one position around the world?
Some powerful figures -- including Rupert Murdoch, Jack Welch, and even my brothers and sisters at the Wall Street Journal editorial page -- have taken shots at Romney in recent days. But I am more optimistic. In response to his critics on the day of the bad June jobs report, Romney talked about expanding energy resources, approving the Keystone pipeline, cutting taxes, and increasing trade with Latin America. He reaffirmed his intention to cut federal spending and eliminate programs.
Basically, Romney is promising a return to free-market, supply-side policies on taxes, trade, regulation, and spending. Hopefully he will embrace a sound and stable dollar as well. I still believe Romney is the most underrated politician in America today, and that he’s the most conservative Republican standard bearer since Ronald Reagan.
I wish more people could come and experience The Alamo, the San Jacinto Monument, and stand under Big Sam. Texas and Texans are great America. The “can’t” attitude is rare here, and the honor and respect to your elders and the Bible are strong. The people here keep and bear arms, and while no place is perfect, it is a fantastic place to live and visit. I travel for work, and meet great and nice people everywhere in America, I pray for the best for our country. I want it back to where a man’s word and a handshake were worth having. It still is like that in many places. I would be ashamed of myself if I was on the government dole. Here at least, for now, you are encouraged to own a gun, and goto church. Hold the door for the ladies and the elderly, be polite, say sir and ma’am, please and thank you. And Bless You, when a sneeze is heard. If I can live like this for another 45 years, I will be blessed, and so far, Texas, is as close as I can come...
Of course Romney is better than Obama...
There are a number of people on this site who would vehemently disagree with this.
In fact I’m astounded that they aren’t all over this thread yet.
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You are so right rogue yam. I’m surprised they have not come out swinging and told all of us “RINO lovers” to go to hell.
If that don’t get you on “The List” nothing will. :)
A FEW STATISTICS
31% of Americans give Obama positive grade on handling economic issues
36% of Americans, about 80 million people, believe UFO’s exist.
If aliens arrived at their doorstep. 22% of that 36 percent would try to befriend the alien, 15% would run away, 13% would lock their doors, and only 2% would try to inflict bodily harm.
... the other 48 percent would vote him in as President.
Because liberals own the mainsteam media and the classrooms.
Post #67 is EXCELLENT!!
Well said, bares repeating.
I hate to tell mountainlion this, but ALL TEA PARTIERS ARE NOT CONSERVATIVE.
Some folks get confused by this. They know from reading their Bible that no man is perfect, not a one. So they understand that every vote is among imperfect individuals.
So how can anyone know when our least-imperfect choice is still a legitimate choice, and when our least-imperfect choice is in fact "evil" and therefore is not a legitimate choice?
Easy!
Just listen to and obey the dogma as decreed by the self-appointed Free Republic College of Conservative Cardinals (formerly known as the FR He-Man Mitt Hates Club).
Do whatever "they" say (whoever "they" are, it's never quite clear) and you are officially "pro-God, pro-life, pro-family, pro-Constitution, pro-Bill of Rights, pro-gun, pro-limited government, pro-private property rights, pro-limited taxes, pro-capitalism, pro-national defense, pro-freedom, and-pro America."
Violate their edicts and you are a condemned-to-hell supporter of "liberalism, socialism, fascism, pacifism, totalitarianism, anarchism, government enforced atheism, abortionism, feminism, homosexualism, racism, wacko environmentalism, judicial activism, etc."
But whichever path you choose, pure glorious righteousness or eternal ignoble damnation, be sure to stop by the fundraising thread and pony up. Thank you.
We have for the most part been in a Depression since the Tech Bust in 2000, Deficit Spending on a massive scale and Government Subsidies have just hidden it below the surface and now we are out of money.
I think you overstate the divisions on the Right.
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Bulls**t. What planet did you just come from? 1rudeboy is exactly right. We ran 7 or 8 “Conservatives” to one Moderate. And Conservatives could not unite behind a one float parade. That’s why we get a RINO every four years.
And how many parsecs distant is the galaxy you are from?
Bullshit yourself.
Conservatives striving for the most conservative candidate possible results instead in the least conservative nominee?
Utter illogic.
Tell me how you hope my mama’s dies from AIDS......
Only liberals use that hateful rhetoric. You sure you are cheering for the right guy?
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Bulls**t!!! If that’s the case, then you and your purist buddies must be closet Liberals because I’ve been on the receiving end of you guys’ mean-spirited, hateful comments. Now, you can just bite me punk.
Once again rogue yam, I am in total agreement with you. Your Post #89 is spot on.
How do we hold a conservative convention to choose a conservative candidate
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Simplify it. Get people that Conservatives trust like Rush Limbaugh, Mark Levin, Allen West, Jim DeMint, Sarah Palin, Paul Ryan and Bobby Jindal together. Sequester them for 2 days and let them present one or two Conservatives to us as “A Conservative who can Win”. And, let’s choose between those two. And, after Iowa, New Hampshire and North Carolina, we all unite behind the one in the lead.
What say ye?
The true Unemployment Rate is around 23% and that includes everything.
Our Labor particiaption rate is around 59% of those eligble to have a job.
Obama has put forward no comprehensive plan to help this Economy or our Country and won’t.
Ref. your Post #110: So, what is your suggestion?
Im gladly happy to be corrected,thank You
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