In the latest episode of “Obama Doesn’t Know Anything About The Private Sector,” we catch up with our economic superhero at a press conference this morning. Here’s what he had to say about the state of our economy:
“The truth of the matter is that… we’ve created 4.3 million jobs over the past 27 months, over 800,000 just this year alone. The private sector is doing fine.”
Maybe he should tell that to the 23 million Americans who are out of work. Or, perhaps it’s the fault of the 215,961 unemployed Coloradans that they can’t find work?
No, this is Obama’s fault, and this will be Obama’s “the fundamentals of the economy are strong” moment. In case you’ve forgotten, that’s what John McCain said on “Black Monday” during the 2008 election – when the financial and job markets were in a death spiral and financial titan Lehman Brothers had just filed for bankruptcy. Obama ran just a few ads with that quote.
Unfortunately, for Coloradans, it’s not just Obama who doesn’t have a clue – it seems to be the Democratic leadership at all levels. Remember this Senate Majority Leader John Morse gem?
Senator Morse: Raising taxes will slow the Colorado economy. And we heard public testimony that whether it's Keynesian or monetary, or whatever, taking tax dollars out of the private economy slows the private economy. Okay. What about the government economy?
Let’s do an EKG on the economy, shall we? Just a few facts and figures from earlier this year about the economy since President Obama has taken office:
- The number of unemployed has increased by 709,000
- The number of marginally unemployed has increased 679,000
- The number of those forced to be part-time has risen 174,000
- The number of average weeks unemployed has doubled from 19.3 in 2009 to 40.1 in 2012
- The price of gas has risen an unbelievable 86.2% College tuition has increased 25.1% Health insurance (which was supposed to decrease with Obamacare) has increased 12.7%
- The number of Americans on food stamps has increased 44.2%
Need we go on? The statistics on the economy were borne out in Bloomberg article just yesterday that noted:
“The dwindling dynamism of the U.S. labor market also shows up in the willingness of Americans to strike out on their own. The nation’s business start-up rate — the number of new firms as a proportion of all companies — fell to a record low of around 8 percent in 2010, according to the latest data available from the Census Bureau. That’s down from about 11 percent in 2006, before the economic slump, and a high of 13 percent in the 1980s.”
Clearly, the private sector is not doing fine. Unemployment is up nationally and up in Colorado. The only thing not going up at this point is Obama’s re-election chances.