DCPolitics

About Barack Obama’s “Jobs” Spin

TRUTH AND FICTION … || By FITSNEWS || All politicians reflexively talk about “jobs.”  What they’ve done to create them.  What needs to be done to create more.  And U.S. president Barack Obama is no exception. During a recent address to students at the University of Wisconsin, Obama offered an…

TRUTH AND FICTION …

|| By FITSNEWS || All politicians reflexively talk about “jobs.”  What they’ve done to create them.  What needs to be done to create more.  And U.S. president Barack Obama is no exception.

During a recent address to students at the University of Wisconsin, Obama offered an exceedingly upbeat take on the latest national employment data.

“The unemployment rate is now down to 5.3 percent,” he said, interrupted by applause.  “Keep in mind, when I came into office it was hovering around 10 percent.”

“All told, we’ve now seen 64 straight months of private sector job growth, which is a new record,” Obama continued, again interrupted by applause. “A new record – 12.8 million new jobs all told.”

Really?

Here’s an excellent rebuttal of that spin from Michael Ramirez of Investors.com …

(Click to enlarge)

obama spin

(Cartoon via Investors.com)

For a more detailed debunk of the Obama spin, economist David Stockman has an excellent new column out.

“We are now 29 quarters from the pre-crisis peak and total non-farm labor hours utilized by the US economy are no higher than they were in Q4 2007,” Stockman wrote.  “In other words, if you use a common unit of measure – labor hours rather than job slots which treat coal-miners and part-time pizza delivery boys alike – there have been no new units of employment at all.  Our teleprompter reading President is actually tooting his own horn about recycled hours and ‘born again’ jobs and doesn’t even know it.”

According to Stockman, Obama “can’t take credit for digging us out of the hole created by the Great Recession, either.”

“The long, slow climb back to square one … was due to the natural resilience of our capitalist economy – notwithstanding the tax, regulatory and massive debt hurdles that Washington policies have thrown at it,” he wrote.

Indeed.

We’ve said it before, we’ll say it again: America’s economy will recover when capital is left in the private sector, not siphoned away by wealth redistributioncrony capitalism, welfare statismglobal interventionism and socialized medicine.

***

Related posts

Politics

Palmetto Political Stock Index – 6/19/2024

FITSNews
Politics

Guest Column: GOP Lawmaker Doxxes Private Citizens – Cites ‘Mean Girls’

FITSForum
DC

Hunter Biden Found Guilty On Gun Charges

FITSNews

11 comments

flip July 8, 2015 at 11:33 am

Great cartoon!

Reply
erneba July 8, 2015 at 11:39 am

Michael Ramirez is a great cartoonist, his work is is easy to find on the internet, just search for him. One of his favorite subjects is is Obama and he never disappoints. The Powerlineblog features him a few times a week…good stuff.

Reply
flip July 8, 2015 at 11:44 am

Since I don’t do anything except spam FITS all day there’s plenty of time to look up all these cartoons.

Reply
a.lawyer July 8, 2015 at 12:35 pm

My really real and not made up law firm will be in touch with you shortly, flip desperately needs the money as food stamps and medicaid only goes so far.

Reply
erneba July 8, 2015 at 11:45 am

With the Labor Force Participation Rate declining just about every month since Obama has been in office, his gloating just rings a bit hollow.
Watch that 94 million number keep rising for the duration of Obama’s term. Wait till these applauding college students go searching for a job. Many will be hanging out for a few years in Mom and Dad’s basement.

Reply
Rocky July 8, 2015 at 12:14 pm

Crap. If it gets much lower he’ll be like similar to Ike.

Reply
erneba July 8, 2015 at 12:32 pm

Ike’s second term was better than his first term. His second term was higher than Truman’s and definitely higher than Kennedy’s.
Biggest sustained growth spurt was under Reagen, and then it started to flatten out under Bush 1 and Clinton.

Reply
FastEddy23 July 8, 2015 at 3:44 pm

Ike was one of the best presidents we ever had, because He, like George Washingtonian, did very little.

Reply
FastEddy23 July 8, 2015 at 3:42 pm

Jobs are up … for illegals.

Reply
nitrat July 9, 2015 at 8:39 am

10,000 Baby Boomers retire every DAY.

Washington Post July 24, 2014

Reply

Leave a Comment