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The Spectacle Blog
“The private sector is doing fine.” So says President Obama who touted the creation of 4.3 million jobs over the past 27 months during a press conference today despite an economy which is mired in high unemployment, low labor force participation, falling productivity and little growth under the looming shadow of climbing debt.
This reminds me of when John McCain said “the fundamentals of our economy are strong” in the immediate aftermath of the financial collapse of September 2008. McCain was widely derided for that remark and it was the beginning of the end of his presidential hopes. At the time, the Obama campaign stated:
Today of all days, John McCain’s stubborn insistence that the ‘fundamentals of the economy are strong’ shows that he is disturbingly out of touch with what’s going on in the lives of ordinary Americans.
Well, President Obama just had his McCain moment. No one could be more out of touch with the lives of “ordinary Americans” than Obama. I am sure the Romney campaign is putting together a commercial with the clip of Obama stating, “The private sector is doing fine,” over and over again. I am sure the Romney campaign will play that clip every chance they get between now and November 6th. As long as the economy continues to stall or gets worse, those six words will come back to haunt President Obama.
solidground| 6.8.12 @ 2:00PM
As the WSJ pointed out in an editorial yesterday, after you crunch the government's own numbers, the number of Americans working now as compared to the day Obama took office is exactly ... 100,000 more. Considering that two million more Americans enter the workforce every year, it doesn't take much imagination to grasp the extent to which American workers are being driven into employment purgatory.
The WSJ editorial went on to note that in contrast to the jobs not created as a result of Obama's destructive economic and financial policies, Bain Capital, Barry's scapegoat of choice, has created at least 100,000 jobs.
Conclusion: Barry is not just a total loon, he's the single most dangerous threat to any future any of us might still have.
The Bruce| 6.8.12 @ 2:35PM
Wow, so I guess it turns out he's just as much of an out of touch idiot as his Vice President.
Occam's Tool| 6.8.12 @ 3:22PM
Romney is running a disciplined campaign, and it will only get stronger.
irish19| 6.8.12 @ 5:11PM
Agreed. So far, so good.
Oldefarte| 6.8.12 @ 4:48PM
Let's tell the rest of this story. Obama also proclaimed the need to bolster the state and local governments due to their layoffs. Duh? A re-reun of 2009 of the $500 billion NON-STIMULUS of ''''''shovel ready jobs'''''no doubt. Right, when same resulted in a padding of state/local government revenues to allow them to maintain [keep from laying off workers] these governments' employees. When private sector employers were laying off tons of their employees, these governments were allowed to maintain their employee levels due to the ''''non-stimulus''''' which taxpayers [most of whom were private sector one losing their jobs] had to pay for. This monkey is economically/financially STUPID and he's playing the same old song and dance to the labor unions' tunes [obviously he's too stupid or arrogant to understand what just happened in Wisconsin]!!!!!!!!!!!!!!
mike 3/505| 6.8.12 @ 4:48PM
His comment disturbs me for the following reason; Public Sector " underemployment" is a good thing...up until vital services that enhance economic growth in the private sector, are harmed. The President appears to beleive that it is important to have "fulle employment," whatever that is, in the public sector. This is why we need to get rid of the Liberal/Statist philosophy. It just doesn't understand, that the state should be "just barely" able to do its job.
Oldefarte| 6.9.12 @ 10:50AM
Of course he thinks that way, since the public sector is represented by......LABOR UNIONS, which will commandeer their membership into voting for and supporting any/all Democrats. It's a quid-pro-quo situation and the taxpayers of this country are left with the financial bill for same, through increasingly higher and higher public sector/governmental workers' retirement benefits [pensions, health care coverages]. Its a Jeff Neely on steriods issue, and that is exactly what Wisconsin was all about!!!!!!!!!
spike59| 6.11.12 @ 6:00AM
if the government is functioning without those jobs, shouldn't that tell us something about how many workers the government actually NEEDS?
Bob S| 6.9.12 @ 10:09PM
He's just speaking as a follower of Keynesian economics. From Obama's perspective, if the economy added 4 million jobs over the past 27 months, the private sector is doing fine. To the rest of us who don't manipulate economic numbers to justify the expansion of government, there's still millions and millions of people without work, and the economy is doing terribly.
mobielgeheimen | 6.12.12 @ 2:59AM
I know that there is no means afraid to get together to burn off!