While Obama rests up at Camp David after his blistering pace of fundraising (33 fundraisers in June – UNPRECEDENTED!!!) let’s do a quick review of his job performance:
n 2009, 2010 and 2011, the administration forecast average economic growth of 4% in the next two years. But the economy has not had even one quarter of 4% growth during Mr. Obama’s stewardship. Rather, our economy has experienced its longest string of consecutive quarters of economic growth below 4% since World War II. Growth has averaged 1.4% in Mr. Obama’s first 13 quarters as president.
His record on jobs is just as bad. Mr. Obama’s initial forecast claimed unemployment would never reach 8% if his $800 billion stimulus bill passed in early 2009 (as it did) and would now be below 6%. That’s off by 3.9 million unemployed workers, millions more if we include those who have given up looking for work
The author suggests that just perhaps our smartest president ever has never read Adam Smith’s “Wealth of Nations.” And this:
Mr. Obama’s most recent statements reveal a strange disconnect from basic economic reality. In a press conference on June 8 he said, “The private sector is doing fine,” adding that we needed more federal spending subsidizing state and local government jobs, where he claims the jobs problem is centered. But according to the Bureau of Labor Statistics, there are 11 unemployed private-sector workers for every unemployed government worker.
We have a choice in November. Compare and contrast.