By Donald Lambro
Wednesday, February 12, 2014
WASHINGTON - We are in the sixth year of the reign of
Obama where America's prolonged economic illness is met with one excuse after
another. Where accountability is evaded at all costs by replacing Harry
Truman's "The Buck Stops Here" with "Blame Somebody Else."
Exhibit A: Last week, administration supporters, advisers
and the news media were insisting the anemic number of jobs created in December
(74,000) and January (113,000) was due to the severe winter weather and would
soon turn around.
But if the polar vortex was the cause of the lower jobs
count, how is it that construction was one of the relatively stronger job
sectors in the last two months?
After December's shockingly weak jobs report, liberal
economists and administration officials were predicting we would see the
monthly jobs count soar in the new year.
President Obama told the nation that 2014 would be
"a breakout year," but the minuscule number of jobs added last month
fell far below the 200,000 jobs predicted by forecasters.
Liberal Wall Street economist Mark Zandi said he was
"very sure" December's tiny job count would be "up and revised
away" in the months to come.
Zandi, one of the talking heads on the CNBC business
channel, insisted the economy was on the brink of seeing much higher job growth
in January.
"I wouldn't pay any attention at all to these
numbers," he said on CNBC's "Squawk Box" about the worrisome
December report by the U.S. Bureau of Labor Statistics.
When the show's host, Andrew Sorkin, asked him "to
take us a month out. What do these numbers... look like?" Zandi replied:
"It's 200 k, we're looking at 200 k monthly job growth."
Jared Bernstein, a former top economic adviser in the
Obama administration, similarly wrote a column in The New York Times saying
December's jobs number "will later be revised."
But the one thousand jobs added, after the feds had
massaged December's numbers, didn't change the math equation much, and there
were grave doubts job creation would improve significantly in the coming
months.
Even Washington's top economic reporters, who had been
talking up the Obama economy every chance they got, were surprised as the back-
to-back, shallow jobs reports came in.
"This was supposed to be the year the economy took off.
Instead, new data released Friday show that 2014 stumbled out of the
gate," wrote The Washington Post's economics reporter Ylan Q. Mui.
This was "the second straight month of lackluster
hiring," Mui wrote, noting that economic analysts were now saying
"that the results reflect a genuine slowdown in economic growth."
This is a story of monumental implications -- economic,
political and social -- yet the Washington news media has been complicit in
playing it down, coming up with excuses, whitewashing the numbers, or ignoring
them altogether.
In a nation with a work force that once numbered in the
160 million range, and that suffers from a serious shortage of good-paying
jobs, two straight months of mediocre job numbers is front page news. But the
Post buried January's jobs report inside.
The White House must have breathed a sigh of relief.
The nightly network news shows dutifully did their part
by kissing off Obama's dreadfully sluggish job numbers. NBC's Brian Williams
gave the report a few sentences and quickly went on to other, lesser stories.
When the networks do stories on unemployment, which is
rare, one name is never mentioned: Obama. It is as if he is on one planet, and
the chronically weak economy was on another, and neither he nor his policies
have anything to do with the latter.
Not so when we heard about "Reaganomics" over
and over each night in the 1980s, until Ronald Reagan ended the recession in
two years, with the help of huge, monthly job creation figures in the hundreds
of thousands.
Well, Obama and his supporters can make all of the
excuses they want, and the news media can ignore it night after night, but the
jobless American people who suffer so from Obamanomics know what's going on.
And they're fed up.
The Gallup Poll, which regularly takes the pulse of the
nation for its Economic Confidence Index, released new numbers Tuesday that
found public confidence in the U.S. economy has fallen to its lowest level
since December.
Last week, when the polling took place, only 39 percent
of Americans "said the economy was getting better, while 55 percent felt
it was getting worse." Nearly 40 percent of the latter called the Obama
economy "poor."
"Americans are increasingly pessimistic about the
future of the economy," Gallup said.
And no wonder. Look at the abysmally low economic growth
rate under this administration, when compared with more recent presidencies.
Here's what New York Times economics writer Nelson D. Schwartz wrote on Jan.30:
Even after including the fourth quarter's 3.2 percent GDP
growth rate, "the economy has expanded at an annual rate of 1.8 percent
under President Obama, half the pace of growth in the first five years of the
Clinton administration," and below the 2.5 percent annual growth rate for
George W. Bush in his first five years.
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