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Happy Days Are Here Again



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In a pre–Super Bowl interview with Matt Lauer, President Obama touted the creation of 250,000 (actually, 243,000) jobs last month. Below, Charles Krauthammer notes President Obama should benefit politically from the decline in the unemployment rate (from 8.5 to 8.3 percent in January).

Dr. K’s absolutely right.

President Obama will benefit because the media will fail to note that the Obama administration promised that the unemployment rate today would be approximately 5.8 percent – not 8.3 percent — if the $800 billion stimulus package were passed.

He will benefit because interviewers like Lauer will fail to ask the president whether the unemployment rate will be below 5.5 percent — as promised – by Election Day.

He will benefit because commentators will ignore the fact that even if 250,000 jobs were created every month from now to the election, the unemployment rate will still hover near 8 percent.

He will benefit because no reporter will ask the president to explain why the labor participation rate has fallen to an abysmal 63.7 percent, the lowest level in three decades.

He will benefit because the media will continue to ignore the fact that if the the labor force participation rate were the same as when President Obama took office, today’s unemployment rate would be more than 11 percent.

He will benefit because members of the White House press corps are either unaware of or indifferent to the fact that long-term unemployment is the worst it’s been in more than 70 years.

He will benefit because no interviewers will ask the president to explain (not merely assert) which of his policies, either individually or in the aggregate, resulted in the “creation” of jobs.

He will benefit because, thus far, Republican politicians (with a few exceptions) have been galactically inept at making just a couple of the foregoing points.



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