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  • From Hope to Defeatism: White House Changes Message on Economy

    June’s job numbers– 9.2 percent unemployment and the creation of only 18,000 new jobs — has brought a fundamental shift in the White House’s message on the economy. The Heritage Foundation’s Michael Franc sums it up: “Bye-bye, hope and change. Hello, denial and defeatism.” In yesterday’s National Review Online, Franc writes:

    In a fleeting Rose Garden appearance [Friday], the president urged patience and advocated a less-than-inspirational economic agenda of Patent Office reform, a new bureaucracy (an “infrastructure bank), and extension of December’s payroll tax cut. (Why not? Look how well the temporary cut has sparked the economy so far!) He then retreated swiftly to the White House, refusing to take a single question.

    The evidence that Obamanomics has failed — long-term unemployment is higher now than at any time in more than 60 years — is overwhelming. Even the White House senses its “stimulus” mantra won’t wash any more. After publicly chuckling that the much-vaunted “shovel-ready jobs weren’t so shovel ready,” [ha-ha!] the president can’t very well maintain that prosperity is just around the corner if only we keep spending ourselves deeper into debt.

    Thus, we see two new messages emerging. First, the 1970s-esque acknowledgement that, yes, the economy stinks, but there’s nothing the president or anyone else can do about it. Why? Because there has been a “structural change” in the economy. The moral of this argument: “Get used to 10 percent unemployment, 15 percent underemployment, and bid a fond adieu to the American dream.”

    It’s a message of resignation. Yes, it says, we’re doomed for economic decline no matter what, but trust us to manage it more gracefully than anyone else. . .

    The second new message emanating from the White House is strictly political. Unemployment numbers are no big whoop, says senior presidential advisor David Plouffe, because the president can win reelection even if the economy is in the tank. While doubtless reassuring to the 454 White House aides earning more than $37 million this year, that news provides little comfort to the 14.1 million Americans currently looking for a job.

    Read more at National Review Online.

    Posted in Economics [slideshow_deploy]

    5 Responses to From Hope to Defeatism: White House Changes Message on Economy

    1. Get real. When Obama stepped into office we were near a depression and he had nothing to do with bringing us to that point.

      We have a long way to go with allot of pitfalls to be avoided.

      Everyone is forgetting a depression was averted and it was not without cost. Believing that we had a depression that never was puts a different perspective on where we were and why we are here now. It is not that we over stimulated; it is that we were saved from a depression. It takes time and money to come back from hell. The difference between this depression and the last one in the 1930's is that we did not wait for the total meltdown before action was taken.

      The consumer will continue to act rationally and restrain the level of his consumption.What do you expect when his largest asset, housing, having a high degree of leverage, falls by 33% of value? Read More: http://goo.gl/sYGP2

    2. Jon says:

      Obama has set several records. The Democrat Party received the worst shellacking since the 1930's last November. His new record is "long-term unemployment is higher now than at any time in more than 60 years". His record for redistribution of wealth would make Karl Marx proud. He still has one and one-half years to go. I can hardly wait for him to set another record. I believe that the last record that he will set is the worst president since Carter. He may even be able to beat Carter.

    3. Pushbroom says:

      "Get real. When Obama stepped into office we were near a depression and he had nothing to do with bringing us to that point".

      No he didnt…but the democratic majority did. The housing failure was caused by Barney Frank and Chris Dodd legislation in 1996. Democrats continue to redistribute wealth to people who dont deserve it.

    4. Bobbie says:

      If the President has nothing to do with the near depression he stepped into, what was he doing in the senate? Preventing it, adding to it, ignoring it?????? Or making plans to set up what he's putting us through, today so he can hide behind blaming bush?

      What promotion does a community organizer encourage? Which party promoted "community organizer" and for what necessary tax dollar purpose? Besides a direct focus on removing the willingness to do for oneself! The title says it!!!! What is the history of this government tax paid position of community organizing? DEFUND!!!!

      It's American Presidency that is dissolving America's freedom.


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