“Don’t muck it up.” Four words that President Obama aimed at Republicans after the recent labor reports showed that 243,000 jobs were added for the month and unemployment dropped to 8.3%. My guess was that the president’s team was elated and drawing up comparisons to the late Ronald Reagan, who was experiencing similar economic during his first term that thrusted America back into an economic recovery (which lead him to come within 3800 votes of winning all fifty states.) Both Reagan and Obama share the same three year approval average of 44%, but this isn’t 1984.
First, for Obama to even think he is in the same league as Reagan is nonsensical. Ronald Reagan, who represented the final evolution in the Goldwater insurgency, sought to reduce government and resulted in an increase in the people’s trust of it. With President Obama’s dependency agenda, trust levels are at abysmal levels, especially with the new economic numbers, which show that the mid-January labor bump is over. Gallup’s recent report shows unemployment rising to 9% again, and the underemployment rate, which combines the unemployed with the part-time employed who are seeking full time work, is at a miserable 19%. In five states, that rate is as at 21% or higher.
Of course, we knew this was a fluke. Job numbers are analyzed and re-anazyled daily, and the drop in unemployment is due mostly on the decline in labor participation. The CBO stated that this is the longest stretch of high unemployment since the Great Depression. No president since FDR has won re-election with unemployment above 7.2%. This notion that Obama will pull off a Reagan-esque comeback on the latest economic news is a gross assumption. Reagan’s economic renaissance derived from cutting taxes, which spurred 10 quarters of economic growth at 6%. Obamanomics has only given us economic growth at a paltry 2.4% that comes after a stimulus, a payroll tax cut, and zero percent interest rates.
These latest economic indicators are atrocious. These are the reasons why we need a conservative president and a conservative congress in lock-step to stop this current executive from driving us over the cliff. You can’t have growth with a new $1 trillion dollar health entitlement program, massive spending, tax increases, and costly regulations. Left-wingers should put away the champagne because all of this proves that John Maynard Keynes’ ideas are finally dead, and big government is killing the American middle class.
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