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September 14, 2012

B+: Three Cheers for This F'n' Guy's Masterful Stewardship Over The Economy

Oh, that. The Foreign Policy President (TM) would prefer not being evaluated on the economy.

Of course, after this week, he probably doesn't want to be evaluated on foreign policy, either.

He has a lot in common with striking Chicago teachers: He just plum doesn't want to be evaluated according to any metric. Like CTU's obese head, he'd probably say "There's no real way to evaluate a President. So let's hire back the incompetents."

So three cheers for This F'n' Guy:

Hip...

Industrial production down 1.2% in August.

Hip...

Obama's on track -- and there's no way to avoid this -- to have the worst record of any president for any term on job creation since the Great Depression. Only FDR in the depths of the Great Depression can beat him for futility.

August’s abysmally weak job growth proved yet again that President Obama’s economic policies are a miserable failure that will continue to undermine our country until he leaves office.

The government’s report that the economy added just a minuscule 96,000 jobs last month came at the end of the Democrats’ defensive national convention...

The deepening weaknesses in the employment picture also were underscored by revisions in the June and July job numbers, which found 41,000 fewer jobs were created than was reported previously.

Not only is the rate of job growth shrinking fast in the fourth year of Mr. Obama’s presidency; the economy’s growth rate also is slowing this year to a snail’s pace: 1.7 percent in the third quarter.

Hooray!

US median income fell again, to its lowest level since 1995.

According to annual data from the Census Bureau, median income adjusted for inflation – a closely watched measure of the financial health of average Americans – fell to $50,054 in 2011, or 1.5 per cent below its 2010 level and 4.1 per cent below its score when Mr Obama took office in 2009.

Although real median income had already started to slide beginning in 2008, before Mr Obama entered the White House, the fact that he was not able to reverse that downward trend could expose him to criticism from Mitt Romney, his rival, that his policies have not aided the middle class. In addition to the drop in overall median income, the data also showed a rise in income inequality last year.

The release of the dire median figures also offers the latest reminder of the sluggishness of the recovery, marked by high unemployment and weak job creation, which is prompting Federal Reserve officials to consider a new round of monetary easing as early as Thursday.


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posted by Ace at 04:18 PM

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