The American Spectator : Obama's Zero Economy

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Obama’s Zero Economy

By Ross Kaminsky on 9.2.11 @ 11:03AM

The dismal August employment report is a particularly depressing way to go into the Labor Day weekend.

“They approach the issue of economic growth as if it’s a bill, it’s a piece of legislation, it’s a program, when it fact it is a philosophy.” — Douglas Holtz-Eakin, former CBO Director, speaking of the Obama Administration on CNBC’s Squawk Box program September 2, 2011

This morning, the Bureau of Labor Statistics reported that the economy created zero net new jobs in August, far below an already weak estimate of 75,000 jobs. Job creation is generally thought to need at least 225,000 (give or take 25,000) jobs on a monthly basis to keep up with population growth and thus lower the unemployment rate. (Late yesterday, rumors of estimates below 75,000 jobs were partly responsible for the afternoon stock market sell-off.)

The combined revisions for June and July were negative 58,000 jobs, meaning the total job change reported today is a negative number.

The early stock market reaction was sharply negative, aiming for the Dow Jones Industrial Average to start the day down 200 points. Perhaps more important than stocks is the action in the bond market where the federal government’s 10-year note is trading around 2.04%, in position for its lowest closing yield in decades. (The note had traded at a slightly lower yield in the past few weeks, but never ended a trading day at a yield this low or lower.) Early on Friday, Gold is up about $50, at a new record high around $1880/ounce. On the other hand, fears of a double-dip recession are hitting oil and copper prices, with October oil futures down about $3, trading around $86/barrel.

A substantial reason for the weak number in August was the strike at Verizon, which took about 45,000 workers off payrolls. However, this number was already factored into analyst estimates.

Health care gained about 30,000 workers, with other modest gains in mining, professional services, and temporary help services offsetting the striking Verizon workers and a loss of 17,000 government workers to get to a net change of zero for the month. Employment by local governments has declined 550,000 jobs in the past three years.

This report provides a high-tension backdrop for Wednesday’s Republican debate and Thursday’s “jobs speech” by Obama. The Republicans will have one of the biggest targets ever to aim at; it will be interesting to see whether they primarily direct their fire at Barack Obama or at each other.

Here’s a preview of Wednesday:

Rick Perry: My state leads the nation in job creation while Governor Romney’s state was 47th in job creation…but our real problem here is Barack Obama’s total lack of understanding of business.

Mitt Romney: Governor Perry inherited a state with no state income tax, and I applaud him for not changing that. I inherited a state dominated by liberals and improved it. Beyond that, however, Rick was in office while other people created jobs while I actually created many thousands of jobs in the private sector. He’s the spectator; I’m the player.

Jon Huntsman: My tax reform plan, which was endorsed by the Wall Street Journal last week, is the best job creation proposal anyone has put out. And please don’t ask me about civil unions again.

Rick Santorum: Why isn’t anyone asking me a question?

Then comes Barack Obama’s Thursday night offering, the latest speech in a presidency full of sound and fury, signifying nothing. He’s already poisoned his speech by outsmarting himself regarding speech timing, now going on the air in a time slot that must have Speaker of the House John Boehner (R-OH) smiling: 90 minutes before the kickoff of the first game of the NFL season, and at a time (7 PM Eastern) during which essentially nobody in the western half of the country will be watching.

Why would the president put himself in this position when he could speak any day at any time and probably get a bigger audience than he will on Thursday? Because he knows that the optics of his speech, namely lecturing Congress, is more important than the content which will likely include nothing particularly unexpected or inspiring. Barack Obama has already shown that his 2012 campaign strategy will be to run against Congress since he can’t run on his own record. He’ll blame Congress for not passing legislation, for not focusing on jobs, hoping that Americans don’t notice that the Republican House of Representatives has passed “Cut, Cap, and Balance,” a repeal of Obamacare, and a responsible budget, whereas the Democrat-controlled Senate has passed nothing of importance.

Obama will, in his angrier-than-Clintonesque way, wag his finger at Congress, making sure that his media people get dozens of photographs and video clips to use in future campaign commercials.

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About the Author

Ross Kaminsky is a self-employed trader and investor and is a senior fellow of the Heartland Institute. He is the host of The Ross Kaminsky Show on Denver’s NewsRadio 850 KOA at 11 AM on most Sundays. You can reach Ross by e-mail at rossputin(at)rossputin(dot)com.

Letter to the Editor View all comments (108) | Leave a comment Leave a comment

Prester John| 9.2.11 @ 11:28AM

There would've been job growth in August but the police kept arresting the 10 year olds for putting up lemonade stands.

"Stupid people are ruining America"
Herman Cain 2012

sane person| 9.2.11 @ 2:37PM

Lets get real. Obama and his administration are as corrupt as we have ever seen in DC! Just look at the recent stories that have come out: the first is the political appointee by Obama of the niece of one of BO's biggest bundlers in Chicago, Regina Dugan, who is the Director of DARPA and is under investigation for giving her company (that she owns while she is running an agency of the Pentagon) millions of $ while her company gives her promissory notes worth $250K (see: http://articles.latimes.com/20.....s-20110817). The second of course is the recent news story of the BO WH steering $500M to a solar company that has gone bust (see: http://www.washingtontimes.com.....lus-snafu/).

We need to make our politicians investigate and prosecute these crooks quickly before any more taxpayer $ is stolen.

Occam's Tool| 9.2.11 @ 7:22PM

I'm sleeping or doing CME during that speech. (Continuing Medical Education)

I hate Barack.

kate| 9.6.11 @ 12:19AM

My gut is telling me Perry/Rubio.
But, I admit, I could be wrong. I thought Rubio was too young and inexperienced, but Obama was only 46 or so when he ran.
Need to listen to Perry's plan and explore his past. (That is something that was forbidden with the current President.)
No questions. No exploring.
I resented that.
Perry/Rubio.
The economy would recover overnight.
Perception is everything, as my liberal boss used to say.
Could change my mind. Gut instinct only.

kate| 9.6.11 @ 12:21AM

BTW
Texas is on fire. Where is our President?

martin j smith| 9.2.11 @ 11:32AM

So if unemployment levels are going to remain thru 2012 at least at minimum of 9% then I ask you this; WHAT IS THE USE OF OBAMA'S GREAT SPEECH ?
It certainly sounds like he has no intention of doing ANYTHING new or concrete.

Then there is this: The candidate that can handle Obama and his BS will be a significant factor in my choice. Any candidate who avoids dealing with Obama's destructive policies WILL NOT GET MY VOTE BECAUSE THERE IS NO POINT,.
I will make this very clear if we get anyone that pulls a John McCaine again we are lost and so will the Republican Party--it will be toast as far as I am concerned . So Kaminsky, if I were you I would pray that someone with guts takes the leadership and the wins the election.

Ross Kaminsky | 9.2.11 @ 11:36AM

Martin, at this point I would probably support any Republican except Ron Paul. For myself, I will place electability, which I completely admit is in the eye of the beholder, over total agreement on principle when deciding who to support in my caucus.

I did not support John McCain in 2008, even while stating publicly that I knew Obama would be worse.

Jack in Wi.| 9.2.11 @ 11:54AM

Ron Paul is running even with Obama in the Gallup and Rasmussen polls. He runs circles around his opponets in debates. He also does by far the best among the young, Independents and Democrats. He has defined all the main issues in the compaign. His solution to this current problem is that of the classical economists. In other wwords get rid of the malinvestments and let the free market work it's wonders. No more protection and bailouts for the banksters and the paper movers of Wall Street. If anything he will help the poor who need it most and preserve Social Seurity and Medicare. There can be no fiscal solution to our current problems until we close down our empire. bring the troops home, and end all foreign aid, especially to Israel and it's local co-horts. Ross: I suggest you hate Ron Paul because his sane and sound policies would be against the your 2 greatest loves, Wall Street and Israel. You are no Libertarian that is for darn sure.The warfare and welfare state has to come to an end now. We are broke.

Trinacria| 9.2.11 @ 6:19PM

"He also does by far the best among the young, the independents, and democrats."

Translation: He's very popular with three groups: those who know nothing, those have no core beliefs, and those who are irredeemably stupid.

As for his performance in the debates, were we watching the same debates? I have no particular animosity towards Dr. Paul, but he looked like a nervous, doddering old fool babbling nonsense. A nuclear Iran is no threat? We should leave 'em alone? Really?

C'mon, sport, raise the bar a tad.

Occam's Tool| 9.2.11 @ 7:26PM

Sorry, Jackboot Jack---the love of your life is at somewhere around 8% according to the Fox News Poll---1/3 that of Perry. He will face his Stalingrad in Iowa and his Kursk in new Hampshire. By South Carolina it will be the Year of the Ten Victories and it will be over.

Then you can take your excretions elsewhere, we can but hope.

Nazi apologetics are not a good substitute for a coherent foreign policy, Baby murderer supporter.

Jack in Wi.| 9.2.11 @ 7:30PM

I predict right now that Ron Paul will win or come close to winning in both Iowa and NewHampshire. Perry is just another prowar blowhard who will vanish within the next 3 months. Fox Snoooze is not to be trusted on polling as they are just a pro war propaganda outfit.

chuck| 9.2.11 @ 8:35PM

I predict that you will be so completely wrong, and so upset when DOCTOR Ron Paul loses that you will wet yourself, and your mother will find you in the basement curled up in the fetal position and whimpering like a hurt puppy.

Clint| 9.3.11 @ 9:27AM

Associated Press-GfK poll: Ron Paul the most favorable GOP candidate

A new national poll of the general population has revealed that top tier candidate Ron Paul is the most favorable choice in the Republican Presidential nomination race.

Ron Paul 37% favorable vs 36% unfavorable = +1
Mitt Romney 39% favorable vs 41% unfavorable = -2
Rick Perry 33% favorable vs 36% unfavorable = -3
Michele Bachmann 35% favorable vs 43% unfavorable = -8

The Tea Party Rebellion Is Here.

chuck| 9.2.11 @ 8:31PM

DOCTOR Ron Paul will never,ever, in a million years be the Republican nominee for President. No way, not a snowball's chance in hell. Zip, zilch, nada chance, ever.

I am willing to bet you anything.

carnot| 9.5.11 @ 10:23AM

the global security situation is deteriorating rapidly...especially in the ME. Ron Paul is the worst of all Republican candidates to address this eminent threat.

Wayne | 9.2.11 @ 12:30PM

I would take Ron Paul in a heartbeat over Obama.

Occam's Tool| 9.2.11 @ 7:26PM

Wayne, on foreign policy, Paul is farther to THE LEFT than Obama.

Jack in Wi.| 9.3.11 @ 1:48AM

Ron Paul is following the traditional policy of The Republican Party. That is also the traditional policy of our founders. We don't go all over the world looking for dragons, to slay but mind our own business. 75% of the people by polling believe that the Fed should be audited. 60% by polling want our troops now or within a year. Over 70% want an end to all foreign aid. Foreign aid ends up usually ends up in the bank accounts of criminals and kleptocrats. Huge majorities want the Federal government downsized. Hhese are all the issues that Ron Paul has been talking about for decades. He runs circles around his opponents in every debate. Now Ron may not be the nominee but the nominee will sound like him. No Prowar dimwit has a chance in this election. The neocons have wrecked their brandname by putting out a terrible product.

Clint| 9.3.11 @ 9:29AM

Read The Founding Fathers, The Old Right & learn Conservative Foreign Policy, Screwball Israel Firster Fanatic,Tool Job.

Clint| 9.5.11 @ 12:55AM

Dr.Ron Paul,
“Our military’s purpose is to defend our country, not to police the
Middle East.

“As the President prepares to send even more support to Egypt, we should
be reminded that it was our foreign aid that helped Mubarak retain power
to repress his people in the first place. Now we have to deal with the
consequences of those decisions, yet we keep repeating the same mistakes.

“I am not the only one who can see the absurdities of our foreign
policy. We give $3 billion to Israel and $12 billion to her enemies.
Most Americans know that makes no sense."

Superbowl 14| 9.5.11 @ 8:30AM

Or Daffy Duck, Elmer Fudd, or even Archie Bunker!!

Clint| 9.5.11 @ 11:24AM

Gallup poll: Ron Paul trails President Obama by 2 percent.

Texas Rep. Ron Paul trails President Obama by just 2 percentage points, according to the latest Gallup Poll released Monday.

The poll, which finds former Massachusetts governor Mitt Romney and Texas Republican governor Rick Perry as the leading candidates to challenge Mr. Obama, shows Mr. Paul trailing Mr. Obama by just two percentage points, 47 to 45 percent."

Claypoole| 9.2.11 @ 12:51PM

Could the Republican candidates in the coming debate please state our problems clearly and then offer positive solutions, instead of insulting one another? Could they put their country ahead of their personal political careers? If Republicans are going to tear down other Republicans, how can we expect anyone not wholly committed to conservative solutions to vote for them?

Cato| 9.2.11 @ 2:57PM

Since NBC and Politico are co-sponsoring the upcoming debate, I highly doubt any of the Republican candidates will have a chance to state the problems/issues.

Instead, the moderator(s) will ask questions having absolutely nothing to do with the current economic situation -- all in a sop to spare PrezBO from having to answer the critics in the speech he gives Congress the day after the GOP debate.

Oldefarte| 9.5.11 @ 3:18PM

Ross, I'm assuming that since you didn't support McCain in '08, that you didn't likewise vote for him either [and correspondingly voted for Obama]. If true, this sadly reinforces my point made numerous times of the general ignorance of the American voters at that time. For various individual reasons [mostly angst over the war], Obama's election was by far the greatest national mistake that this country has ever made in my lifetime. Not that McCain would have been a great president, but MG, he sure would have been preferable to what we're now faced with. I will even go so far as to predict that we would instead not be in this economic recession/depression with a McCain presidency, and would instead be partially on an upward economic/financial path to recovery by now. I simply do not, nor will I ever understand people's lack of common sense in voting for Obama!!!!!!!

Drunken Sailor| 9.2.11 @ 11:57AM

I think the latest spin on the white house 9% is for several reasons.

1. To lower expectations. This way even if they can get it down to 7% (highly unlikely) they can claim a partial victory
2. To push for more stimulus spending and unemployment benifit extension
3. As ammo to use for his re-election campaign. He is going to run for re-electin by running against Congress the same way he ran against Bush. When he pushes his job bill and Congress doesn't pass it or take it up, he will say "We would have had a lower unemployment rate if it wasn't for the Republicans in Congress.

Wayne | 9.2.11 @ 12:33PM

Its a losers tactic. People are Always sour on Congress. Its proof that Obama can not lead or work with anyone who is not one of his lackeys.

Drunken Sailor| 9.2.11 @ 12:42PM

Never said it would work, only that I belived that is what they are trying to do.

Have you considered| 9.3.11 @ 9:04AM

DS, I agree with your points, but I am not as optimistic as you appear to be insofar as I think tactic #3 Will work.

Our society has become so uninvolved in politics, that I believe that many people get their "news" from the teasers of the newscast that comes between Dancing with the Stars and Everybody Loves Raymond.

They see the anchor saying "president Obama says that those darn republicans won't agree to his jobs bill...more at 11" and this is all they know.

Politicians lie because it gives the anchors something to echo.

You are well informed, and you can see through the blatant lies, most of your neighbors are not.

carnot| 9.5.11 @ 10:27AM

you forget one other part of the dynamic...in conversations I have with folks...they accept that this Obama strategy might work. however, there is also the consistent theme that the Repubs will maintain their position in the House and take over the Senate. in short....yet more power shifting away from Obama.

Mike Hawk| 9.2.11 @ 12:38PM

Let not your hearts be truobled folks. Rube Paul won't be the nominee. Too old, too far off on the fringe, followers too kooky.

Clint| 9.3.11 @ 9:30AM

Bullshit !

Associated Press-GfK poll: Ron Paul the most favorable GOP candidate

A new national poll of the general population has revealed that top tier candidate Ron Paul is the most favorable choice in the Republican Presidential nomination race.

Delta Zelda| 9.3.11 @ 1:35PM

On what planet are pollsters conducting these "polls" that show Ron Paul so favored? The man is almost as much a joke as Ralph Nader.

Clint| 9.3.11 @ 5:35PM

The RINO-CINO Apologist Stooge Flunkies Are Afraid Of The Tea Party & Dr.Ron Paul.

carnot| 9.5.11 @ 10:29AM

yawn.

he's already behind!

Clint| 9.5.11 @ 11:27AM

" Gallup poll: Ron Paul trails President Obama by 2 percent

Texas Rep. Ron Paul trails President Obama by just 2 percentage points, according to the latest Gallup Poll released Monday.

The Tea Party Rebellion Is Here.

Rise Up.

Oldefarte| 9.5.11 @ 3:22PM

Yeah, you're correct. We are afraid of Paul. Any normally intelligent human being would be also if faced with the probability of having a president WITH A METAL PLATE IN HIS HEAD!!!!!

chuck| 9.5.11 @ 8:54PM

Wow, never thought of it before, but could Post American really be DOCTOR Ron Paul??????

It would certainly explain things.

martin j smith| 9.2.11 @ 11:55AM

Let me add one other candidate I will not support at this time and that is John Huntsman. My problem with Huntsman is his belief that some how HE can proclaim himself to the more reasonable than the other extremes. Well, Obama is certainly a LEFT WIND RADICAL SOCIALIST and perhaps a Marxist. So, those oppose Socialism or Marxism--are they extremists ?
Does John Huntsman buy into the LEFT defining the Tea Party ( which is NOT A PARTY ) as "
racists "? Because this line of thinking is TOTALLY UNACCEPTABLE. From what I see, ANYONE WHO DISAGREES WITH OBAMA IS A EXTREMESTS !!!!!!!!!! For Obama is great and knows everything and is above it all. He has nothing to do with the varies of our economy . he is just an innocent bystander trying to get everyone to be reasonable. If Hunts buys that HE IS OUT as far as I am concerned.

Wayne | 9.2.11 @ 12:35PM

Frankly right now out of all the announced GOP candidates, Huntsman is the only one I would not vote for. I would even vote for Newt or Paul. Even the RINOs seem better than the one who ran in 2008.

Timothy L. Pennell| 9.2.11 @ 12:04PM

A very smart man said, long ago, that this is all ON PURPOSE. I thinks it's called: Occam's Razor.
Let's review: He's been "Focused like a Laser Beam", on Jobs, for 3 Years. That's what he keeps telling us.
He had Super Majorities in Both Houses of Congress, and could get whatever he wanted, passed. He passed a Soviet Style Health Care.
He had $900 Billion for "Shovel Ready Infrastructure Jobs", and pissed it away, Rewarding his Friends in the Public Sector Unions.
He's using his EPA to shut down the Energy Sector of our Economy. He's using the NLRB to prevent Companies from expanding in to States that OBAMA doesn't like. ie: Right to Work Sates. He wants MORE TAXES. He wants to impose Health Care MANDATES, on Corporations. He seeks to REGULATE them, out of existence.
Sounds like he's Destroying our Economy ON PURPOSE, to me.
What do you think?

Wayne | 9.2.11 @ 12:38PM

Which he continues to do. A 2012 election would only give him the opportunity to complete the job. I knew the moment he said it to Joe the Plumber. "Spreading the wealth around." meant US wealth to other nations of the world. I have no doubt at this point that that is his intent.

Pecos Pete| 9.2.11 @ 12:44PM

TLP: I think you are correct. Either it is on purpose or King O and his jesters court (which includes the MSM) are totally stupid. Come to think of it, maybe they are simply stupid. Nah, that can't be it. Why else would they go head to head for a major speech with the Packers? Yeah, they did it on purpose because they are sooooo stupid. Doesn't matter which it is, the USA is going to suffer until King O is gone.

Occam's Tool| 9.2.11 @ 7:28PM

Oh, no, Tim---you've just quoted a Catholic Heretic approvingly---wait till Clint assaults you!

To be more brief---if one assumes that Obama is a traitor, all makes sense.

Clint| 9.3.11 @ 9:33AM

Interestingly, Screwball Israel Firster Religionist Occam's Tool uses the moniker of a Catholic Heretic.

RCV| 9.3.11 @ 5:12PM

It's OK Clint. You don't have to use cumbersome terms like "Israel Firster Religionist". Just call OT a "Jew" - we all know that's what you mean.

Clint| 9.3.11 @ 5:37PM

Obama Law Boy RCV attempts to Play The Anti-Jew Card on Tea Party Clint.

Get Bent, Asshat.

Claypoole| 9.5.11 @ 3:40PM

Once one accepts that Barack Obama is both a Marxist and a Muslim, all becomes clear.

Bill Hussein O'Stalin| 9.2.11 @ 12:04PM

The real solution will continue to elude the Washington elite because whether the economy is good or bad, the President and the elected members of Congress continue to collect their paychecks even though they have led us onward to this state of failure.

As long as unemployment is over 7.5% the U.S Congress and all federal employees should take a 10% paycut. For every one percent over that figure another 5% should be cut from all federal salaries.

That would motivate Congress and the federal bureaucracies and the President to work together to actually come up with reasonable solutions.

In the offing all we have and hear is a lot of blabber and blather and there will be no solutions.

If Congress and the bureaucracies actually face some type of penalty for their failures you would see less failure.

I know it's far fetched but I would love to see someone introduce the legislation where accountability would come in the form of reduced pay for all these hacks. Frankly, most of them haven't got a clue as to any real solutions but their paychecks continue none the less.

Wayne | 9.2.11 @ 12:39PM

Good Idea. I am sure Ron Paul would support it.

Mike Hawk| 9.2.11 @ 3:22PM

So who cares. Ron Paul is retiring next year.

Clint| 9.3.11 @ 9:34AM

We Tea Party Patriots Care.

Associated Press-GfK poll: Ron Paul the most favorable GOP candidate

A new national poll of the general population has revealed that top tier candidate Ron Paul is the most favorable choice in the Republican Presidential nomination race.

Dan Hirsch| 9.2.11 @ 1:20PM

Congressmen face penalties, if and only if, their constituents are paying attention and elections are honest.

Bureaucrats generally don't have much to lose in elections because there are so many of them and they are so hard to fire. It's unavoidable: do you think it is possible that one bureaucratic drone could look at the performance of another bureaucratic drone and say, 'You are not doing enough, you're fired!" with full knowledge that there was nothing preventing his boss from saying the same thing about him? Then again, do you really want the bureaucrats to be more effective in their counterproductive efforts...

And if you tie their compensation to some statistic, they'll just cook the numbers. Look at the school teachers in Atlanta surreptitiously correcting their students' answers on the No Child Left Behind tests to get paid more, the Fannie Mae execs cooking their reports to get bigger bonuses, et al.

Ever notice that every time the BLS announces GDP or employment statistics, they always also revise the prior period numbers to a worse value? If these errors were not intentional, there would be as many upgrades as downgrades of the earlier reports! Obviously they are not unintentional!

Do you really believe that there is no inflation in the economy right now? Of course there is, even though the DOC is reporting very little. It's the DOC just re-configuring their "grocery basket" of purchases by replacing things that are reflecting inflation with items that are falling in price...there are some.

There is only one fix for this - a smaller, less intrusive Executive Branch. Our little President is going 10,000 mph in the wrong direction. We MUST get a true conservative whose bones scream "Spend less! Do less! Less is way more!"

This is our only hope; no RINO's, CINO's or crazies need apply!

Don't tread on me.

Bill Hussein O'Stalin| 9.2.11 @ 2:07PM

The mindset of Washington, through and through, i.e., "It can't be done!"

Dan Hirsch| 9.2.11 @ 5:54PM

Remember Reagan's little brown and gold sign on his back desk in the Oval Office? It read: "It CAN be done." You can get your very own at the Reagan Library!!!

Don't tread on me...

VBMax| 9.2.11 @ 1:55PM

A major flaw is that Congress determines its own pay. And they will never vote away that control.

DaveS| 9.4.11 @ 11:26AM

Propose something else. Congress is the pre-eminent branch, and determines pay for President, Justices, and themselves. Another Commission? The pay issue is a non-issue. I wish they'd pay them royally so they would not have to whore so much.

1ConservativeUSA| 9.2.11 @ 12:28PM

Obama should not be allowed to adress a joint session of Congress for this speech. As usual, Obama will present nothing significant or of substance. The speech will be nothing more than an Obama 2012 campaign event.

So, when president Double Dip starts his hyperbole and demagoguery, John Boehner should rise and declare the session over and hand Obama a bill, so the taxpayers do not, once again, fund his campaign.

Wayne | 9.2.11 @ 12:40PM

Maybe Obama plans to use this moment to say: "You are all under arrest."

Ross Kaminsky | 9.2.11 @ 6:44PM

I would suggest that the likelihood that Obama's speech will be such a waste of time is a good reason to have it in front of Congress.

DaveS| 9.4.11 @ 11:27AM

As the emperor in Star Wars said, "It' s all going according to my plan."

Pat| 9.2.11 @ 12:30PM

After a year spent looking into the matter by a crack investigative reporter, the NY Times was forced to conclude that George Bush has no ties to the Wiccans nor does he appear to possess any skills in witchcraft, necromancy, spell casting or incantation. As the Times editor patiently explained to Obama: “Sir, we just can’t find evidence that Bush is preventing the creation of jobs – he isn’t that smart and no one in his family was ever tried for witchcraft”. Go figure, and here we thought it was Bush’s fault all along. At this stage in his term, Obama realizes his administration doesn’t need to create jobs, it needs to find a scapegoat to blame for the lack of job creation.

And that’s because Americans stubbornly cling to the belief the president can create jobs – or not, at his option. We’re not exactly sure how but everyone says the government is responsible for the scarcity
of jobs – and yesterday’s Labor Dept. report on jobs or the lack of them simply reinforces that notion.

So, Obama is in very deep kimchee with us voters. And as he recently confided to Joe Biden: “I know how to strong arm local banks into extending long term mortgages to folks without a steady job or an adequate down payment, but I have no idea how to create jobs. I know Bush is somehow responsible for this but I just can’t prove it. What can I do?”. Joe wasn’t much help as he explained to Obama: “I just don’t know Mr. President, I’m sure you’re doing everything you can. Say, would you mind if sat in your Oval Office chair for a few minutes, I’d just like to see if it’s as comfortable as I imagine it is”.

Mike Hawk| 9.2.11 @ 12:42PM

I thinl we can now call the economy "Stagnant", just like the days of The Jimmuh.

shipley130| 9.2.11 @ 2:01PM

An alternative headline for this article....Zero's Obama Economy.

shipley130| 9.2.11 @ 2:05PM

Join me over on Fox Nation, to make fun of Obama's "Felix The Cat" routine on 8 September.

Ed| 9.2.11 @ 2:39PM

Round the Bowl,
and Down the Hole,
Roll Obama Role!

(Adapted from an old Auburn University cheer)

Ed| 9.2.11 @ 2:41PM

(correction)

Round the Bowl,
and Down the Hole,
Roll Obama Roll!

(Adapted from an old Auburn University cheer)

Occam's Tool| 9.2.11 @ 7:29PM

Ed, as a husband of a 'Bama alum, and a former faculty member of the U of A school of Medicine, let me tell you that you have raised my view of Auburn 1000 percent.

Occam's Tool| 9.2.11 @ 7:30PM

Obviously, that should be School of Medicine (Huntsville branch)

Oldefarte| 9.5.11 @ 3:28PM

Take it easy on them OT, they won the national championship in football last year WITH THE BEST TEAM THAT MONEY COULD BUY!!!!!!!!

LibertyAtStake | 9.2.11 @ 2:59PM

The Surgeon General recommends shielding minors from viewing the slow motion train wreck that will occur in the House chamber beginning 7 pm 0n September 7.

d(^_^)b
http://libertyatstake.blogspot.com/
“Because the Only Good Progressive is a Failed Progressive”

Ron| 9.2.11 @ 3:09PM

Some "economist" on the MSNBC online seems to be under the impression that another "stimulus" bill is needed to jump start growth...What does this clown not get as a so-called "expert?" The guy has all sorts of pretty graphs and charts supporting his BS, but come on more deficit spending to save the economy? really? Sounds like a sound bite for NerObama's speech next week...Here is the link to the article, such that it is:

http://money.msn.com/investmen.....591d6dd9c3

Peter McGrath| 9.2.11 @ 3:16PM

Geez, the Big Dud keeps bottoming out, only to fall through a trap door. This past August was the worst of his presidency, and he's starting off September mewling and wimpering like a puppy who needs to "go outside," badly.

Last time I saw Jay (sideshow) Carney, he was getting all wee wee'd up about the timing of the next "Teleprompter-Side Chat" (a/k/a the next in a continuing series of "Snooze Sandwiches with Yawn Sauce") about the sputtering private economy, when we will get - yet another - take on Keynesian "investment" in "infrastucture" and finger-wagging at Repubs for not spending enough of other people's money.

They ought to schedule it at 3:30 a.m. the next morning, right before the P-90X and Lyposene infomercials. He'd have a captive audience of brain-dead insomniacs, who'd be grateful for some live TV.

chuck| 9.2.11 @ 8:47PM

I'd rather watch the dude selling Sham-Wows than have to watch Obumbler and TOTUS.

martin j smith| 9.2.11 @ 3:31PM

You know this zero bit could not have come at a better time. Watch Obama run( from his record ) But, the candidate I prefer will be the one that chases him down and let him avoid the reality of our zero.

martin j smith| 9.2.11 @ 3:32PM

sorry left out the word " does not let him avoid the reality of our ( his ) zero.

shipley130| 9.2.11 @ 4:47PM

The hope and change in my pocket keep going zero zero ling.

Bill S| 9.2.11 @ 5:14PM

UNEMPLOYMENT IS NOT 9.1%!!!!!!!!!!!!! A more accurate way to measure unemployment is U-6 unemployment. It was 16.2% for August.

http://www.bls.gov/news.release/empsit.t15.htm

Intelligent Design| 9.2.11 @ 6:00PM

The federal government is sucking up capital and creating a hostile environment for business. ObamaCare is having a major negative impact on job creation. RomneyCare is the blueprint for and parent of ObamaCare. Romney is trying to paint himself as a conservative who would tame government. He's a liar.

POST American| 9.2.11 @ 10:13PM

-----------------BOTTOMLESS LINE-------------------

"The US is about to have the rug pulled
out from under them as RED China is officially
hoisted as the Globalist 'world model' ---and
'WORLD ENFORCER'."
-ALAN WATT

THINK that 30 MILLION , 'a--bore--shun'
generated, MALE SURPLUS just for starters.

'YOUTH in ASIA' ---if you will.

----------------------TAKE HEED------------------------

Nite| 9.2.11 @ 10:17PM

Zero is the worst President the US has ever seen. A year and 3 months is too long to put up with his incompetence.

Buck Ofama| 9.4.11 @ 12:58AM

A single MINUTE is too long to put up with this g0ddamned dumb ass fool, Ovomit.

DaveS| 9.4.11 @ 11:29AM

But there is an end, and a lesson for all those idiots who voted him in 2008. Time is nothing.

nice| 9.3.11 @ 11:27AM

I'm sleeping or doing CME during that speech. (Continuing Medical Education)
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Mike| 9.3.11 @ 11:31AM

I would suggest that the likelihood that Obama's speech will be such a waste of time is a good reason to have it in front of Congress.
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Mike D.| 9.5.11 @ 8:36PM

He going to announce proposals that he knows the Repubs won't pass so he can blame the whole thing on them. This whole "jobs" speech is nothing other than a campaign ploy to set his election agenda. Of course the media will do their job and carry this @ssclowns sh!tpail of BS right up to election night.

Rmm| 9.3.11 @ 12:04PM

Go Packers !!!!!!

Jersey Bill| 9.3.11 @ 1:17PM

Zeru economy, unemployment around 9%, yearly budgets of i.5 trillion. SO WHAT!, he says. His media friends hammering non-stop over the evils of rhe opposition party are working. O has much misguided support. The opposition? They're busy shooting each other, forgetting Nov, 2012. They have good people, appealing people - BUT is there a WINNING CANDIDATE there? They'retoo busy arguing over who's the most conservative! The Tea Party (an annoyance, not a political entity)needs to help, not hurt Repub chances. OMG=Obama Must GO! If we want any sort of America left.

VBMax| 9.3.11 @ 7:18PM

"yearly budgets of i.5 trillion"

Actually, that's the shortfall. The budget is way over 3 trillion.

Martin Owens| 9.3.11 @ 4:06PM

Zero job growth? Zero respect around the world? Spendaholic policies with zero chance of succeeding?
What else can we expect from ZerO-bama?

Rick| 9.3.11 @ 6:46PM

Your a bigget and your poles are rasist!

LibertyAtStake | 9.3.11 @ 10:17PM

"...it will be interesting to see whether [GOP candidates] primarily direct their fire at Barack Obama or at each other."

This is a pass/fail intelligence test. Any who fail to direct fire at President Zero earn an immediate and automatic DQ.

d(^_^)b
http://libertyatstake.blogspot.com/
"Because the Only Good Progressive is a Failed Progressive"

Dan| 9.4.11 @ 7:01PM

This blog post is super juicy. It looks like they are going to start fighting back. It's about time somebody took on these counter-productive ignoramuses!

http://mittromneycentral.com/2.....ppearance/

If FreedomWorks gets their way, President Obama is going to get re-elected... Can't we all just allow the candidates speak and let people decide for themselves!

POST American| 9.5.11 @ 12:09AM

--------------------FINAL WORD------------------------

---Ahhhhh! --the CFR/Rock--F--L--O
fronts Bush Sr., Clintons (--blood linked?),
Bush Jr. and NOW ---O--BAM---UH.

And so that RED China TREASON OP keeps
rolling, rolling rolling ----------on.

---------------------------SO smooth!

---Rock----F-----L-----O

childsplay| 9.5.11 @ 2:44AM

Which part of Congress will Obama be wagging his finger at? The Democrats whose California Campaign Treasurer, KINDE DURKEE has just been arrested for mail fraud? Isn't mail fraud what they got Al Capone on when they couldn't get him on anything else? She manages campaign funds for everyone from Feinstein on down, including the Sanchez sisters.

If the charge sticks, what has Kinde been doing with the embezzled money? Banking it for herself or skimming and "donating" it for higher purposes, for the 2012 cause?

Judging from the looks of her, probably just ordering up extra buckets of KFC chicken! Someone on another site asked,"What the hell kind of name is "Kinde"? I dunno. Maybe she is half Kenyan and half Poland China pig. Her picture is on google.

State Assemblyman Correa has been crying "fowl" already, saying he has lost hundreds, maybe thousand of dollars. How could he know or even assume that , this early? Look in your private bank account, Correa, maybe she has surreptitiously, inadvertently deposited it there, unbeknownst to you.

How on earth could that Corruption Sleuth, Nancy Pelosi have missed chicanery in California?

Even Daily KOS says this doesn't look good. I am not a reader of KOS - it just popped up on the DURKEE stories. They are moanin' low.

Buck Ofama| 9.5.11 @ 3:28AM

Did this fool Ovomit leave office yet? Someone please tell me that this incompetent self-serving assh0le has either gone on permanent vacation, resigned, begun to run for president of the world, or met some other appropriate career-ending fate. Please tell me.

JohnC| 9.5.11 @ 8:11AM

Obama, the socialist, is certainly a disaster regarding jobs but the GOP presidential candidates have only offered partial solutions in tackling our massive unemployment. Even if the multi-national corporations paid zero corporate tax they would still send their plants oversees to China (as GE did) and other hostile foreign powers under the guise of free trade because of the slave labor wages and lower operating costs (e. g. rampant pollution allowed). We cannot and should not compete with labor from lawless dictatorships and Third Word countries -- it is a race to the bottom.

I have yet to hear any presidential candidate call for ending outsourcing (which is not even trade), advocating E-Verify and terminating H1-B visas. The reason is that multi-national corporations using sleazy lobbyists with zero loyalty to America and its middle class own both Parties.

I hope Trump runs as an Independent -- at least he is pro-American and that covers a lot of sins. His idea of a sizeable import tax on foreign goods to protect America’s ever -dwindling manufacturing base sounds good to me and is what the Founders advocated. This would reduce our deficit, revitalize our manufacturing base, allow for lower and flatter taxes on all and bring back good-paying jobs to America.

VBMax| 9.5.11 @ 8:35AM

If Trump runs as an Independent, Obama gets re-elected.

Tenn Slim| 9.5.11 @ 8:15AM

Micro stats reflect the details. LONG lines at potential job openings, tossed resumes, continued applications being filed, on site webs posting non existent openings, continued practices of family first hirings, all are real time indicators of the "Recession, aka 2011 Depression". The stats are marvelous inventions to decode the misery. Try a jobs fare, then get back to the Spectator.
end

Walter | 9.5.11 @ 8:17AM

Some very spirited comments here. I will vote for any one of the republican candidates even the ones who haven't announced yet!

JohnC| 9.5.11 @ 8:50AM

No if Trump runs he may win because he resonates with patriotic Americans across the political spectrum. If Perry or Romney win we get another liberal globalist Republican who will continue to sell America down the drain and the right wing Republican media will carry their liberal water as they did for GWB.

Oldefarte| 9.5.11 @ 3:37PM

Instead of viewing his economic address to the nation on Thursday, I'll be forced to watch the Saints-Packers game. Damn, how unfortionate! There is not available paint to watch dry or grass to watch grow, so I guess this NFL game will have to surfice. I can predict that he'll suggest more non-stimulus from increased governmental spending. Wait, didn't they just have a big political fight in DC over government spending, and if so, how do you suppose he'll possibly be able to now spend even more money? Oh I get it, it'll boost the economy, right? Just like the previous $800 billion of governmental labor union expendatures that really reduced our unemployment from 9% to 10% [and higher within minority circles that politically support him]!!!!!!!!!

Timely Renewed | 9.6.11 @ 12:00AM

The solution must go deeper than simply replacing this incompetent ideologue. Much of the Obama administration's ability to wreck such havoc comes from a constitutional jurisprudence which has allowed the national government to expand far beyond its proper constitutional bounds. We can only hope to be free of this or future administrations of its ilk when we restore the original limits on the national government. Given how entrenched that Supreme Court jurisprudence is, this can only be done by amendments restating those original constitutional understandings. See http://www.timelyrenewed.com.

aaction| 9.6.11 @ 12:05PM

It will certainly be interesting to see what President Obama has to say in upcoming speech about job creation. In the mean time check out Doug Holtz-Eakin's (mentioned in the article above) new youtube video! It has four bold points to consider in creating a jobs plan.

http://americanactionforum.org.....jobs-plans

1. No U Turns... 3. Attack the Debt Explosion...

Sounds like some good ideas!

ahmad | 9.6.11 @ 9:33PM

Go Packers !!!!!!

Hebe| 9.6.11 @ 11:23PM

We need to make our politicians investigate and prosecute these crooks quickly before any more taxpayer $ is stolen.
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Hebe| 9.6.11 @ 11:25PM

Even Daily KOS says this doesn't look good. I am not a reader of KOS - it just popped up on the DURKEE stories. They are moanin' low.
http://www.discountsunglassesforsale.com
http://www.winter-brands.com

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