8.2% Unemployment. This Is Obama’s Economy. He Said So.

Posted by in Blog on June 1, 2012 11:59 am / 4 comments

The May unemployment numbers are out and they’re a mess. Obama’s failure is complete. As Jim Pethokoukis explains:

The May jobs report was a complete and utter disaster for the economy and, perhaps, President Obama’s chances for reelection.

Employers created just 69,000 jobs last month, the Labor Department said on Friday. That’s the fewest since May of last year. Economists had been expecting nonfarm payrolls to increase by 150,000. (In fact, the result was lower than what any economist polled by Reuters had predicted.)

Disaster.

Jim provides and updated Bernstein-Romer chart to highlight Obama’s promises with what actually happened:

As you would imagine, Team Obama was out quickly with excuses. Leftists everywhere were blaming Republicans for the numbers despite the fact that it’s the Democrats who have been blocking pro-growth bills the GOP-led House passed – they’re sitting on Harry Reid’s desk.

The fact is Obama’s policies have failed. One could argue that things would be even worse had the GOP not taken over the House in 2011 and stopped the Democrats from implementing their agenda further.

This is Obama’s economy. FORTY straight months of unemployment over 8%. But don’t take my word for it. Back when Obama had gotten his stimulus passed, and was feeling all cocky about the “success” – when he thought the projections illustrated in the chart above were going to come to fruition – he, not us, took full ownership of this economy. Watch:

(h/t @pablo4200)

So all you Obots out there acting like this is the GOP’s fault, stop. Direct your anger at the guy who let you down: Obama.

We had nothing to do with it.

Here’s a rapid response ad from the RNC that’s worth watching, too.

 
 

4 Comments

  1. Gary Thompson says:
    June 1, 2012 at 2:37 pm

    That is a must watch video and couple that with his failed Stimulus graph should, in a sane world, be enough to guarantee a one-term Obama.

    There was a time back in February 2012 where Team Obama also took ownership of the economy. This was when they were spiking the football on a good jobs report.

    http://cosmoscon.com/2012/02/04/obama-owns-it/

  2. Hector says:
    June 1, 2012 at 2:47 pm

    Complain all you want buddy, but it ~is~ in fact the fault of the GOP – Boehners debt ceiling fight in 2011 crashed consumer confidence, dragging the economy down and costing jobs. He’s threatening to do it again. And that is just one GOP tactic designed to crater the economy and blame the POTUS. Of course, you and people like you know this. You’re a tool being used to that end.

    Your laughable assertion that low job growth is worth ditching the POTUS is completely ridiculous, especially considering the record of the guy he replaced who was losing 800,000 jobs a month by the time he was done wrecking the economy. And of course, the so-call pro growth policies to which you refer above are the same policies that tanked the economy in the first place! They’re simply not worth revisiting.

    Your assertion that Obama “took full ownership of this economy” is obviously designed to deflect attention from the fact that the GOP, who was in full control of the executive and legislative branches of government for the first 6 years of GWB, were the ones who tanked the economy. 2 rounds of tax cuts that ballooned the deficit and national debt and 2 wars that were kept off the books contributed far more to the economic mess than the current POTUS ever did.

    Oh, and by the way, when Mitt Romney was at Bain capital (and not on a leave of absence — obviously have to keep that in mind, right?) Bain acquired 68 companies, 33 of which went bankrupt or stayed neutral in terms of profit. That’s a D- in my book. Also, I notice you let Mittens claim credit for all Bain jobs created whether he was on leave or not. Hypocrite much? Can’t have it both ways and still be taken seriously.

    Lastly, I’m trying to think which future occurrence is more likely – you deleting this comment like a coward (although, your blog posts generally get 0-2 comments, I can understand you not wanting non-wingnut posts around – someone might actually get a clue.) Or, you leave it up and respond in a flurry of name calling (as you usually do.)

    I guess we’ll see.

    In the meantime, take care. Hope you don’t forget our little wager! I’m so looking forward to collecting, and blocking my twitter account doesn’t get you out of it (nor does it let me out – I will honor my end in the unlikely event you are the winner – I am no welsher.)

    Your pal,

    hector

  3. RB says:
    June 1, 2012 at 4:28 pm

    Hi Hector!

    Nice rant. One problem. You see that part where you blamed Bush and the GOP for tanking the economy? Yeah, everyone knows that’s not what happened. In fact, anyone who claims that is clearly a moron.

    The economy tanked because of the bursting of a housing bubble which started decades before Bush ever took office.

    The rest of your rant is undermined by the fact that you clearly have no idea what you’re talking about.

    Thanks for reading!

    PS. I don’t even know who you are, so this bet you’re talking about is news to me.

  4. Gary thompson says:
    June 1, 2012 at 7:13 pm

    Hey Hector, it doesn’t work like that. You can’t have Obama’s chief economic adviser come out in February 2012 and attribute good jobs report to Obama’s policies and then claim in May that Obama doesn’t own the economy. See the link I pasted in my first comment above.

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