One measure. Under Obama the Dow Jones has risn 69.9% (as of a little over a week ago- it has continied to slowly climb since). Putting him 5th in terms of dow jones performance undera president. And the best since fellow democrat Bill Clinton. (3 of the 5 were democrats, and you have to go back to over 6 decades, to Eisenhower, to find a Republican who did so well.
Hence Obamas much maligned comment of the private sector is doing fine. Because it is. It’s the american worker who is not doing so well.
Because, as I have blogged on numerous times- those old jobs just ain’t coming back folks. It’s the new economy after all. Those with an education (exempting english lit, philosophy, etc) aren’t doing too bad as a rule. Those with skills and knowledge (and a work ethic).
But america has lost millions of jobs- due to everything from increasing automation to voerseas competion- that aren’t coming back. Compounded by a decade of job market where tens of thousands of jobs were being filled by those replacing our troops serving in Iraq and Afghanistan.
And yes, tax cuts are magically going to solve these problems. As corporations turn record profits and the DOW soars. the problem is not about money. It’s about the current, modern reality of the world. (quick question: just 15 years ago- how many of you had a cell phone? Still had a landline? Had a computer? Had internet that allowed you to watch movies or listen to music? Made a substantial number of purchases on line? bought a majority of products made in china and not in union shops in the US? Worked in manufacturing where the majority of the parts used weren’t from mexico, canada, china…?Shopped at locally owned stores? Shopped at multiple locally owned stores.
The world, and our country, is changing. And yes, that can be scary. And yes, as we have seen before- it will make for some rough times.
But give me a president who seems to recognize reality, and who is willing to make the hard choices, rather then a blowhard who seems to think the whole problem is one of taxes, and that things will magically revertto “happy Days”…