Politics & Policy

Obama’s Pretty Words Cannot Beautify His Ugly Economy

(Kevin Lamarque)

If this morning’s employment report has you down, just listen to President Obama. The U.S. economy is gorgeous, he insists.

“In the United States, our economy is growing again,” Obama crowed during his trip to Germany last month. And the American people would appreciate all of this “if we had been able to more effectively communicate all the steps we had taken” to improve it, he recently told one news outlet.

“It is very hard to get good stories placed” about the economy, Obama whined to college journalists last week. “People will assign you stories about what’s not working. It’s very hard for you to write a story about, ‘Wow, this thing really works good.’”

That grammatical gaffe aside, a failure to communicate is not among Obama’s myriad weaknesses.

As his self-confident and hilarious appearance at last Saturday’s White House Correspondents’ Dinner confirmed, Obama is a gifted speaker. The national media have eaten out of his hand since he descended from the heavens, fully formed, at the 2004 Democratic National Convention. As president, he can summon two dozen TV cameras and just as many microphones just by crawling out of bed every morning. So, the notion that Obama cannot express his economic message “good” deeply insults the intelligence of the American people.

RELATED: Year Eight of Obama’s Recovery

While Obama can talk the bark off a banyan tree, he cannot make Americans hallucinate prosperity. Here is the sad picture they actually see.

‐ The unemployment rate has improved significantly, from 7.8 percent at Obama’s January 20, 2009, inauguration to 5.0 percent in April.

‐ However, as more and more Americans stop looking for work, the Labor Force Participation Rate on Obama’s watch has fallen from 65.7 percent to 62.8 percent, a level last measured before Obama in March 1978. Since Obama took office, this metric has slid 4.1 percent.

Last month saw the creation of 160,000 jobs, a widely panned number, and much below the 200,000-plus jobs generated in five of the last six months. Nothing about the latest employment report spells “boom.”

RELATED: Obama’s Lackluster Economy Still Lacks Luster

‐ Meanwhile, annualized GDP growth nearly stalled in the first quarter at a meager 0.5 percent. This is down from already tepid 1.4 percent growth in the fourth quarter of 2015.

‐ Obama is the only U.S. chief executive in history not to preside over even a single year with 3 percent GDP growth, as the Institute for Policy Innovation’s Tom Giovanetti observes:

‘From 1790 to 2000, U.S. real GDP growth averaged 3.79 percent,’ entrepreneur Louis Woodhill explained at RealClearMarkets. He expects final figures to show that ‘2015 will have been the tenth year in a row that real GDP growth came in at under 3.0 percent.’

‐ During the Obama years, the number of Americans below the poverty line is up 3.5 percent.

‐ Real median household income: down 2.3 percent.

‐ Americans on Food Stamps — 33 million then, 46 million now: up 39.5 percent.

‐ Americans who own homes: down 5.6 percent.

‐ National debt — $10.63 trillion then vs. $19.19 trillion last Wednesday: up 80.5 percent.


‐ Meanwhile, millions of college-educated Millennials are languishing in their parents’ basements and wallowing in student debt, with limited prospects. Many of those who have found work lag their predecessors.

A recent report by New York City’s Democratic comptroller Scott Stringer found that Gotham employees born between 1985 and 1996 earn roughly 20 percent less than their peers a generation earlier. Lack of work and lower wages are a recipe for student-debt hangovers. Robust economic growth is the cure.

“This generation is at a crossroads. They worked hard, got an education and then faced roadblocks to getting a good-paying job,” Stringer told U.S. News and World Report. “We need to foster an economy here that helps young people get ahead, not one that holds them back.”

RELATED: Blacks Mainly Backslide under Obama

‐ Insurance companies are fleeing Obamacare’s exchanges. Amid $650 million in expected losses this year, UnitedHealth announced that it would medevac itself out of all but “a handful” of its 34 state markets.

‐ The percentage of families in which no one is employed has grown from 17.8 in 2008 to 19.7 in 2015, the Bureau of Labor Statistics reports.

For details on these data, click here:

As the Wall Street Journal’s Dan Henninger has noted, even the Clintons acknowledge Obama’s economic wreckage.

Americans are suffering “the awful legacy of the last eight years,” Bill Clinton said in March. He explained on April 26, “The problem is, 80 percent of the American people are still living on what they were living on the day before the crash [of 2008]. And about half the American people, after you adjust for inflation, are living on what they were living on the last day I was president, 15 years ago. So that’s what’s the matter.”

#related#Stumping in New Haven, Conn., Hillary Clinton spoke about a nurse who is facing breast cancer and foreclosure.

“She is speaking for so many people across our country who feel beaten down, left out and left behind,” Hillary said. “People who have worked hard and done their part, but just can’t seem to get ahead, and find it tough even to get by.”

In Obama’s eighth year, Americans remain in pain. The best thing he can do is apologize, stop talking, and leave us alone until January 20, 2017.

— Deroy Murdock is a Manhattan-based Fox News contributor and a contributing editor with National Review Online.

Deroy Murdock — Deroy Murdock is a Manhattan-based Fox News contributor and a contributing editor of National Review Online.

Most Popular

Politics & Policy

Students’ Anti-Gun Views

Are children innocents or are they leaders? Are teenagers fully autonomous decision-makers, or are they lumps of mental clay, still being molded by unfolding brain development? The Left seems to have a particularly hard time deciding these days. Take, for example, the high-school students from Parkland, ... Read More
PC Culture

Kill Chic

We live in a society in which gratuitous violence is the trademark of video games, movies, and popular music. Kill this, shoot that in repugnant detail becomes a race to the visual and spoken bottom. We have gone from Sam Peckinpah’s realistic portrayal of violent death to a gory ritual of metal ripping ... Read More

Romney Is a Misfit for America

Mitt’s back. The former governor of Massachusetts and occasional native son of Michigan has a new persona: Mr. Utah. He’s going to bring Utah conservatism to the whole Republican party and to the country at large. Wholesome, efficient, industrious, faithful. “Utah has a lot to teach the politicians in ... Read More
Law & the Courts

What the Second Amendment Means Today

The horrifying school massacre in Parkland, Fla., has prompted another national debate about guns. Unfortunately, it seems that these conversations are never terribly constructive — they are too often dominated by screeching extremists on both sides of the aisle and armchair pundits who offer sweeping opinions ... Read More

Fire the FBI Chief

American government is supposed to look and sound like George Washington. What it actually looks and sounds like is Henry Hill from Goodfellas: bad suit, hand out, intoning the eternal mantra: “F*** you, pay me.” American government mostly works by interposition, standing between us, the free people at ... Read More
Film & TV

Black Panther’s Circle of Hype

The Marvel Cinematic Universe (MCU) first infantilizes its audience, then banalizes it, and, finally, controls it through marketing. This commercial strategy, geared toward adolescents of all ages, resembles the Democratic party’s political manipulation of black Americans, targeting that audience through its ... Read More