How can anyone declare Barack Obama has been good for the American economy and still keep a straight face? The first person I can think of is Barack Obama himself. I’ll have to give him credit, he isn’t backing down from his economic message. Month after month, he is faced with a completely dismal report on jobs, unemployment, and other economic indicators, but he keeps hammering away. I am beginning to wonder if he actually believes we are in a real economic recovery.
After the jobs report was released yesterday, showing the economy added only 84,000 new jobs in June, Barack Obama had the nerve to say it was a step in the right direction. Sort of like when he said the private sector was “doing just fine”. He dropped the right direction line after the GOP caught wind of what he said and began a hammering campaign of their own. The President really wants to be able to tout his economic message, but because the economy refuses to cooperate with him, and continues to slump, he has to keep backtracking. The best he can come up with is that there is a lot of work left to be done. That much is true. I keep waiting to hear him blame George W. Bush again for his troubles with the economy.
One would think that the economic message Barack Obama has to tell would be plain enough. That isn’t necessarily the case. I was talking to an older gentleman this week at work and someone (not me) mentioned the President and how poorly he was doing on the economy. The man in question was quick with his response. He wanted to know exactly how things were better when Bush was in office. This man is a customer of mine and I consider him at least a passing friend, but he completely glosses over what Barack Obama has done to the American economy.
From The Economic Collapse, I want to share with you a few statistics. Some of these you may already know, but they are still worth looking at again. I am fairly sure Barack Obama would just as soon we ignore these numbers. These are only 10 out of 70 statistics that were used in the original post, but they are enough to get the picture.
$3.59 – When Barack Obama entered the White House, the average price of a gallon of gasoline was $1.85. Today, it is $3.59.
30 – Back in 2007, about 10 percent of all unemployed Americans had been out of work for 52 weeks or longer. Today, that number is above 30 percent.
32 – The amount of money that the federal government gives directly to Americans has increased by 32 percent since Barack Obama entered the White House.
60 – According to a recent Gallup poll, only 60 percent of all Americans say that they have enough money to live comfortably.
61 – At this point the Federal Reserve is essentially monetizing much of the U.S. national debt. For example, the Federal Reserve bought up approximately 61 percent of all government debt issued by the U.S. Treasury Department during 2011.
63 – One recent survey found that 63 percent of all Americans believe that the U.S. economic model is broken.
71 – Today, 71 percent of all small business owners believe that the U.S. economy is still in a recession.
56,000 – The United States has lost more than 56,000 manufacturing facilities since 2001.
$5,000,000,000,000 – The U.S. national debt has risen by more than 5 trillion dollars since the day that Barack Obama first took office. In a little more than 3 years Obama has added more to the national debt than the first 41 presidents combined.
$15,734,596,578,458.59 – The U.S. national debt as of June 7, 2012.
When Barack Obama first took office, he had an agenda. A stimulus bill that amounted to many billions of dollars was passed. We were told this stimulus was exactly what the doctor ordered for the economy. Jobs would be created, lives would be changed, etc. After it became clear that the first stimulus didn’t work, the only thing for the President could do is blame Bush and declare we needed another stimulus package, again to the tune of hundreds of billions of dollars. He promised that by this time, the unemployment rate would be down to 5.6%. We can all see how that is working out for him.
We have had over three years of stimulus by Barack Obama and a Congress that was controlled by the Democrats for most of the time. All we have to show for it is a much larger national debt, no real budget, and a President who believes green jobs are the savior of the American economy. I am torn on how to decipher his actions. I don’t know if he is so convinced his liberal policies are the right direction that he can see no other path, or if he is so completely inept that he hasn’t a clue what the right direction is. I have a feeling it may be a combination of the two.
If Barack Obama has done so much in only one term, can you imagine what America will look like if he is given another four years to work his economic magic? I don’t think I want to find out.