The Argument for reelecting Obama
If we take Bill Clinton at his word,
we should reelect Obama because the failures of the last four years aren’t hisfault. No one could solve these problems
in four short years. That definitely is
the argument of a loser.
Democrats answer “Are you better off
today than four years ago?” with a hypothetical “Yes”
At first the Democrats were honest about it and tried to change the question. But then Stephanie Cutter said, “Absolutely”
and they change their meme. People are not better off than they were four
years ago, but the left wants you to imagine
you are better off than you might have been. Obama according
to the Democrats saved the world from a great Depression. Now I’m not sure how he did that since the
recession was officially over in June 2009 before any spending from the
stimulus took effect or any of the other programs he put into effect had a
chance to take effect.
Here’s the irony of their
claim. If there was a chance of a
depression George W. Bush avoided it by
passing the TARP program. That is
why the recession ended in June 2009 before any action by Obama took
effect. So the Democrats want to blame
Bush for the recession while giving credit to Obama for what Bush did to
address the recession. Obama is
responsible for the recovery which has been the worst recovery since World War
II.
Obama fails the interview
On Thursday
night, Barack Obama interviewed with the hiring manager -- the American voters
-- to keep his job for another four years. Any hiring manager using the past
behavioral event interviewing method -- a technique where experience
triumphs over hope -- would conclude
that Obama flunked. And
flunked miserably.
The ending was breathtakingly insulting
as Obama ultimately blamed the hiring
manager -- the American people -- for having elected him in the first
place. So you see, the election four years ago
wasn't about me. It was about you. My fellow citizens, you were the
change.
While Obama's stated vision for
prosperity, equity, justice, security, and compassion might have been noble, he offered no plan to reach such a utopia, nor did he discuss how
the nation would pay for it.
What the August Jobs Report said
Nonfarm payrolls increased by only 96,000 in August, the Labor Department said,
versus expectations of 125,000 jobs or more. The manufacturing sector, much
touted by the president in his convention speech, lost 15,000 jobs.
– Since the start of the year, job growth has
averaged 139,000 per month vs. an average monthly gain of 153,000 in 2011.
– While the unemployment rate dropped to
8.1% from 8.3% in July, it was due to a big drop in the labor force
participation rate (the share of Americans with a job or looking for one). If
fewer Americans hadn’t given up looking for work, the unemployment rate would
have risen.
– Reuters notes that the participation rate is
now at its lowest level since September 1981.
– If the labor force participation rate was the
same as when Obama took office in January 2009, the unemployment rate would
be 11.2%.
– If the participation rate had
just stayed the same as last month, the unemployment rate would be 8.4%.
More about the Jobs numbers
How many people are out of work but
not counted as unemployed because they hadn't sought work in the past four
weeks? Eight million. This is the
sort of distressing number that turns up when you look beyond the headline
number.
Here's
another one: 96,000—that's how many new jobs were added last month, well short
of the anemic 125,000 predicted by analysts, and dramatically less than the
(still paltry) 139,000 the economy had
been averaging in 2012.
The
alarming numbers proliferate the deeper you look: 40.7% of the people counted as unemployed have been out of work for 27
weeks or more—that's 5.2 million "long-term" unemployed. Fewer Americans are at work today than in
April 2000, even though the population since then has grown by 31 million.
Klavan on Obamanomics
Something on the lighter side.
Top Democratic Candidate distancing
himself from Obama
Democratic Senate candidate Bob Kerrey said Thursday that he
hates the employer mandate in the
Affordable Care Act and that his own businesses might drop employee insurance
and pay the federal fine for doing so if the mandate goes into effect in 2014.
Kerrey said wealthy Americans pay their fair share in taxes. And he said President Barack Obama made a big mistake by
not following the recommendations of his own bipartisan budget deficit
commission.
Is Kerry running as a Democrat or a
Republican?
Fact Checking: It’s not just about
the facts anymore
The fact checking industry has made a
name for itself of late by “fact
checking” not just the actual factual claims of particular candidates –
usually conservative candidates – but by fact checking their supposed implications. And the fact checkers have
almost universally been friends to the Obama campaign. This is a big
problem because the fact checkers to check implications have to assume what the
speaker meant. We are way far away from FACTS.
JINO—Journalists in Name Only
PolitiFact Ohio — the
“fact-checking” wing of the Cleveland Plain Dealer — has been cited as an
authority by all six of Ohio’s major papers, but now faces proof of staffer’s liberal bias. And even after the outlet’s claim to
objectivity was debunked in an Aug. 16 report from conservative watchdog Media
Trackers Ohio, the Plain Dealer, The Columbus Dispatch and the Dayton Daily
News continue treating PolitiFact Ohio
as an objective source.
Media Trackers
also reported that, based on voter registration records, PolitiFact Ohio editors Robert Higgs and Jane Kahoun are both
Democrats. Prominent PolitiFact Ohio contributors Reginald Feran, Henry Gomez, Aaron Marshall
and Fields are registered Democrats as well, but this has not prompted any
skepticism at the state’s major newspapers.
Reminiscent of Nixon:
Obama has a plan
Sounding like Nixon who had a secret
plan to end the war in Vietnam, President Obama yesterday said: “I’ve
got a plan,” Obama said yesterday before a podium with a big blue square placard, “Forward,”
on its front. “I’ve got a plan,” he said again, then ticked off all he’d like
to do. Export more products. Recruit 100,000 new math and science teachers. Cut
college tuitions, etc.
“We need to create more jobs faster,” he said. “We need to fill the hole left by this recession
faster.”
Yes we do. Everybody knows that. But the plan seems long on goals and short on
answers.
Josh Greenman grades the Conventions
An interesting and short review of
both the Democratic and Republican National Conventions.
The
Star: C-
President Obama’s Thursday night
speech in Charlotte was a major missed opportunity. He should have have defended his
economic decisions. He should have described, in vivid terms, what Obamacare is
already doing for real people. Instead, he gave what amounted to 4,000 word
rehash of his stump speech.
Is Connecticut in play?
Connecticut might be the last place
you'd expect Republicans to pick up a
U.S. Senate seat this November, but it may happen. In the race for retiring
Sen. Joe Lieberman's seat, Linda McMahon,
the co-founder of the highly profitable World Wrestling Entertainment, leads Democratic Rep. Chris Murphy by three
points, according to the latest Quinnipiac poll.
Those numbers terrify Democrats, so much so that at the party's convention in Charlotte,
N.C., this week they frantically shuttled Mr. Murphy around town to meet
deep-pocket Democratic donors.
Connecticut hasn't had a Republican
senator in modern times—with the exception of Lowell Weicker, who was so
liberal that the Democratic Mr. Lieberman unseated him in 1988 by running to
his right. Barack Obama carried the state by 23 points in 2008.
But Nutmeg State voters today are cranky, and even Mr. Obama
is up only seven points on Mitt Romney in the latest Quinnipiac poll. One
reason for their angst is tax-happy Gov.
Dannel Malloy, who has raised income, sales and 70 other taxes and fees
while insisting that taxpayers would be glad to pay the higher charges. They
haven't been—in part because the budget
remains steeped in red ink and the unemployment
rate remains persistently above the national average. Barron's recently
rated Connecticut the worst-run state in the country.
Obama’s Speech
Of course, reading through the speech, I didn’t see the word “jobs” mentioned once. In fact, though I
could be wrong, I didn’t see the word
“growth” mentioned once.
What I did see were constant references to government.
Obama has taken to calling it “citizenship.”
But it’s the same old, same old. Whether it’s more money for the teachers’
unions, or more Solyndra-like green energy, or more for infrastructure, it
translates to more government spending and dependency in a second Obama term,
all to somehow be financed with tax hikes on the rich.
Unfortunately, as former President
Clinton mentioned in his convention speech, the arithmetic doesn’t add up.
Taxing successful, upper-end
earners, investors, and small-business owners will generate less than half the revenue Team Obama expects.
Maybe far less than half, since
taxing capital gets you less capital, lower investment, fewer jobs, and slower
growth. This will lead to a huge revenue
shortfall, all while spending as a share of GDP continues to rise, perhaps to
25 or 26 percent.
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