Obama Doldrums continue

Day after day, day after day,
We stuck, nor breath nor motion;
As idle as a painted ship
Upon a painted ocean.

Few people alive can recall a worse economic recovery. The unemployment rate has dropped a little mostly because labor force participation is down lower than it has been for more than 30 years. Many of the jobs being created are low-skilled and low paid. Three years after the glorious "summer of recovery" we are still stranded in the winter of our discontent.

It doesn't go down; it just doesn't go up. Did anybody really think we would still be sliding sideways by fall of 2013?

We made a mistake reelecting Barack Obama, but now we have to live with him for the next three and a half years. Economies eventually recover, even with someone like Obama at the helm, so I try to be optimistic. But it is getting harder.

Posted by Christine & John at September 6, 2013 6:52 PM
Comments
Comment #370362

On the bright side C/J, people are finally wising up to the political games being played in Washington by both political parties. The coalitions that brought obama and the dems to power are collapsing. Union rank and file, persons of black and Hispanic heritage, and the young men and women who vote are discontented with the direction our country is going.

Matters of war and peace are dividing the democrats and as obamacare begins to be understood it is being chastised even by those formerly praising it.

The president no longer has much international clout as he is seen by many as a failed leader in times of world crisis. He has missed opportunities and squandered others.

obama did not have the necessary training and experience to do his job and is not a quick study in that job. With a political viewpoint that is alien to most Americans he can no longer make promises to the masses and be believed.

We will muddle through to the end of his term as even this guy will not be allowed to do any more serious damage. His days of unconstitutional exercise of power is over and he will be lucky if he is not impeached before he must leave office by statute.

The United States remains unique in the world with our natural and human resources. Without the obama impediment we will exercise those resources and recover from this debacle.

Posted by: Royal Flush at September 7, 2013 3:43 PM
Comment #370366

Well C&J it seem you insist upon blaming the cops for the bank getting robbed. When GWB had a repub HOR and Senate the job creation was practically nothing. Unless you count the government jobs created during he same time frame. This during a time of such a small recession.

We haven’t recovered from the 8 million lost jobs of the economic meltdown of the GWB administration yet you blame Obama. The HOR hasn’t lifted a finger to create jobs, instead the have cut jobs and lowered credit ratings as they hold the county hostage for political gain.

Posted by: j2t2 at September 7, 2013 8:00 PM
Comment #370368

j2t2

If you look at the chart, you see that it looked like we were recovering as we normally do after a downturn. Usually, the more the downturn, the faster the rise after. It is like pushing down on a spring.

But then in 2010, the “summer of recovery” the process reversed. This was still the time when Democrats controlled both houses of congress. Something went wrong and we entered the doldrums.

The “best” unemployment rate during the Obama times would be the worst most other times. And it is “helped” by the fact that labor force participation has been dropping. It is down to levels not seen since the Carter times.

Economies improve by themselves; government policy can help or hurt. The fact that ours has not recovered as it always has for the last sixty or seventy years indicates that something has gone wrong. Obama has been calling the shots since 2008. Democrats won both houses of Congress in 2006 and held both until 2010; they still hold the Senate and the presidency. Maybe this current anemic recovery is due to some of their policies.

Posted by: CJ at September 7, 2013 8:37 PM
Comment #370369

C&J, Joel H. posted an article recently -

http://www.swans.com/library/art19/joelh14.html

relating to how well the Nordic countries are doing re the US. The Nords are about the only countries meeting the .7% GPI foreign aid agreement from the 70’s. But, Joel could be cherry picking the info.


$73 – Amount per American the U.S. spends on aid.
$1,763 – Amount per American the U.S. spends on defense.

Like, how many Tomahawks have the Nords fired off lately.

Your post seems toward a political statement and doesn’t consider some important factors. To wit:

$20T debt, globalisation, mortgage crisis, two wars on a CC,
WP reports that 63.2% have a job or, are looking, lowest stat level in 35 years. Nearly 90M are out of the labor force. Dropouts from the workforce have forced unemp figure down to 7.3%. Fed has been pumping $85B/monthly into the economy and is now at the end of their rope, fixing to pare back.

And you expect a GOP’er to come in a ‘fixit’? Com’on C&J, or is it just J talking??

IMO, the corpocracy is just now really starting to press down on wages and these crazi walmarters are looking for $15/hr. Real life is stranger than fiction…

Otherwise - - -


Posted by: Roy Ellis at September 7, 2013 8:56 PM
Comment #370370

Roy

I am not a big believer in those sorts of aid stats. For one thing, the U.S. is by far the biggest donor because we have such a big GDP. For another, the U.S. tends to do with private what many do with public. U.S. private giving is very much larger than official. The Gates Foundation alone equals the the aid given by Norway, for example.

Re military - we protect the world in many ways. Others are free riders. When there is a natural disaster, everybody expects the U.S. Navy will be there and most of the food and supplies will be delivered on our boats, planes and helicopters.

Re aid - again - lots of aid is wasted and maybe even negative. Government aid permits third world klepocracies to stay in business. We should attach strings, as we did with Millennium Challenge. AND, btw, one of the most effective aid programs in world history was PEPFAR, where President GW Bush saved millions of lives in Africa.

RE the GOP fixing - economies recover if allowed. I think some of the Obama policies are slowing the normal recovery.

Posted by: CJ at September 7, 2013 9:32 PM
Comment #370374

The problem with Obama is that you can’t blame him for how poor of a job he’s doing as President. I believe he’s doing the best he can. The best he can, however, isn’t good enough.

It’s like when a employer needs an engineer to build a bridge, but instead hires a handyman. The handyman will do his best, but he doesn’t have the experience and skills necessary to build a bridge that won’t collapse.

The same is true for Obama. We, the American people, voted for a President that’s not qualified for the job. Because he won’t release his college transcripts, we must assume he was a below average to average student. He’s never had a real job in his life. He had no record to speak of as a state Senator. He had no record to speak of as a Senator. He has no foreign policy experience. Like the handyman in my example, he doesn’t have the experience and skills necessary for the job he was hired to do.

Hopefully the American people will pay more attention to the next candidate’s resume and less attention to how well that candidate reads from a teleprompter.

Posted by: Ragsdale0509 at September 8, 2013 2:42 AM
Comment #370415

Look, if you insist on austerity that the big financial companies tell you will be costing the economy digits off of its growth rate, you have no right to complain about slowed growth, because you’re slowing it yourself. We’d be growing much faster if Republicans all over the place hadn’t been so quick to tighten government spending. We told you what would happen, and it has, and now you have the temerity to blame it on the one person who’s actually passed something to increase growth, and which we can prove did increase growth! You say the stimulus failed, I say AUSTERITY HAS FAILED! Only you won’t admit it. You’ll dream up these infrastructure projects, sure enough, but those will never see the light of day as long as your people insist that a weak economy needs government to cool it off.

Posted by: Stephen Daugherty at September 9, 2013 11:05 AM
Comment #370531

Ragsdale0509,

Can you supply the names of any previous Presidential Candidate who released his college transcripts?

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Comment #370808

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Posted by: mulberry purses at September 17, 2013 2:57 AM
Comment #371794

The economic recovery hasn’t been as speedy and as glorious as most of us expected. We might like to think that five years down the line we should be out of troubled sea, but with not many institutional change in place this is where we are….

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