It's Editorial Time!

Posted by Red Kingman on

Todays editorial comes from the web site washingtonexaminer.com and speaks about the state of the union and is titled:

Examiner Editorial: One term gone and no recovery in sight

"If I don't have this done in three years, then there's going to be a one-term proposition." So said President Obama in February 2009, declaring that he would be held accountable if his policies failed to improve the economy. Obviously, this did not come to pass. Despite continued economic stagnation and extremely weak job creation, voters gave Obama a second term.

The job numbers released Friday offer still more grounds for buyer's remorse. The unemployment rate stood at 7.8 percent, equal to the revised November rate and one-tenth higher than the more hopeful 7.7 percent figure that came out just before the election. Only 155,000 jobs were created in December 2012, according to the Bureau of Labor Statistics' payroll survey. That is not enough to keep up with population increases, never mind produce economic growth. It is also roughly the same as the monthly average for all of 2012 and all of 2011.

Amid all the talk of workers giving up on the labor force, it's worth noting that the share of the adult U.S. population that is gainfully employed was back down again in December, to 58.6 percent, exactly where it had been a year earlier. That is down more than 4 percentage points since the recession began in December 2007, down 2 percentage points from when Obama took office, and down 0.8 points from where it was when the recession ended.

To make matters worse, what job gains there were last month all seem to be at the very bottom of the pay scale. According to the BLS household survey, all net jobs created in December among those 25 and older went to people with a high school education or less (about 37 percent of the labor force). Two-thirds of the jobs created went to high school dropouts (less than 10 percent of the workforce). This may be a good thing for those lacking in educational attainment, but it is also a sign of just how far from reality Obama's rhetoric has been about creating the jobs and industries of the future.

In short, although the Great Recession ended in June 2009, the job market has not recovered since then and is not recovering. The nation is still stuck in the same rut with few signs of hope that things will ever return to the "normal" of the last decade. Moreover, nothing the Obama administration proposes now -- more stimulus funding, for example -- holds forth any serious promise. This disappointing jobs report is the bleak sky that stands in the background as Obama delivers his second inaugural address.

Lert me share a few of the comments left for this editorial..they are a reflection of both the willfully limited liberal view, and the woefully steady conservative narrative.  Which to you agree with?

PitbullDad  Obama will go down in history as the most incompetent, divisive, and destructive president ever...it's the economy that will determine his legacy.History will remember Obama, not Reid or Boehner.

Alan to PitbullDad  no, history will remember Obama as a great President who took over from the worst and most feckless President ever, Bush, who totally wrecked the economy, lied us into war, got thousands of our troops killed so Halliburton could make millions. Plus he is an admitted war criminal and torturer.

Baron Von Ottomatic  Alan  Ummhmm, Obama just made the temporary "Bush Tax Cuts" he spent the past six years blaming for our economic woes permanent. Guantanamo is still open and Obama is killing by drone strike at a rate far greater than Bush ever did. He just signed a bill extending the NDAA and extended the PATRIOT act as well.The only difference between Bush and Obama is that Bush didn't set out to transform the strongest economy in the world into floundering cesspool of crony capitalism. That, and Bush didn't lie with his every waking breath. 

Ryan Nay  rlowen  god these people are idiots. You really think nothing has improved? Honestly?

The Dow Jones about doubled under Obama.
Corporate profits have seen RECORD increases.
We went from losing 700,000+ jobs per month to gaining several hundred thousand every month.
bin
Laden is dead, we're virtually out of Iraq and winding down 
Afghanistan, AlQaeda's leadership is all but destroyed, and there hasn't
been anything like what happened about 9 months into your guy's first 
term. Remember that?
GDP is up and growing again.
Unemployment is down.
Foreign relations have greatly improved.
The American auto industry has rebounded in a big way.

Has
anything NOT improved? You have to grab at extremely flimsy straws to 
try and find something... like a marginal drop in average salaries. 
Well, good luck with that. Whatever it takes to keep your head stuck in 
the bubble.

 

 


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