Obama's Black Friday
By Alan Caruba
Black Tuesday, October 29, 1929, marked the beginning of the Great Depression, but for Barack Obama, last Friday was Black Friday because the U.S. Department of Labor announced that only 69,000 jobs were added in May, well below expectations that it might reach 150,000. The official unemployment rate ticked up to 8.2 percent, but it is actually far closer to 15 percent.
The news means that Obama’s hope of being reelected ranges between slim to none. Beyond the current numbers, on Friday CNS News reported that 766,000 more women are unemployed than when he took office in 2009.
Also on Friday, Generation Opportunity, a non-profit, non-partisan organization devoted to younger Americans reported that unemployment among young adults, ages 18 to 29, was 12.1 percent in May. “The declining labor participation has created an additional 1.7 million young adults that are not counted as ‘unemployed’ by the Bureau of Labor Statistics because they are not in the labor force, having given up looking for work.” If their numbers were factored in, “the actual 18-29 unemployment rate would rise to 16.9 percent.”
On Thursday, Obama got more bad news. Former President Bill Clinton told CNN that Mitt Romney’s business record at Bain Capital was “sterling.” Clinton said, “I don’t think that we ought to get into the position where we say ‘This is bad work. This is good work.’ The man who has been governor and had a sterling business career crosses the qualification threshold.”
Clinton’s appraisal came at the end of the third week that Team Obama had been trying to demonize Romney for having been a successful venture capitalist. Clinton isn’t the only prominent Democrat to jump off the SS Obama. Newark Mayor Cory Booker and Massachusetts Gov. Deval Patrick also refused to press the Obama attack on Bain.
Obama has little with which to campaign upon. When Karl Rove, Bush’s former White House advisor, examined “Obama’s Public-Equity Record” in a May 10 Wall Street Journal column, he noted that the Obama administration had forced General Motors and Chrysler into bankruptcy and, instead of allowing the process to proceed normally, the Obama bailout cost jobs.
“GM employed roughly 252,000 workers in 2008. Now it has 207,000, with 131,000 of them working in foreign nations.” Citing data from the National Automobile Dealers Association, Rove estimated that “as many as 100,000 Americans lost jobs at the companies’ dealerships.”
GM and Chrysler creditors were left without compensation while Obama ensured that the United Auto Workers Union gained ownership equity in both companies. Then he stood by “as the UAW forced the closure of a plant in Moraine, Ohio, where workers had joined a rival union.”
By almost any economic measurement the nation is experiencing, if not a Depression, at least a very serious Recession, despite the official pronouncement that it had ended in 2010. The Recession hitting European nations is having global repercussions as well.
Obama has had nothing to say about the pending “Taxamageddon” that will kick in on January 2013 bringing the largest tax hike in the history of the nation. He never mentions the “stimulus”, nor Obamacare. The latter is likely to be ruled unconstitutional by the Supreme Court in June.
Even members of the mainstream press that were largely responsible for Obama’s election in 2008 are beginning to have second thoughts. Dana Milbank of the reliably liberal Washington Post in April wrote that Obama “is making me queasy because his nonstop campaigning is looking, well, sleazy—and his ad suggesting that Mitt Romney wouldn’t have killed Osama bin Laden is just the beginning of it.”
The polls are all trending away from Obama. On almost every issue, Romney has either tied or surpassed him. Obama looks weak because he is weak.
There’s just over five months to go before November 6, Election Day. They are going to be the worst five months of Obama’s life, but for millions of Americans out of work and unable to find work they will be just as bad or worse. Many of them are women. Many of them are young adults. Many of them represent a dwindling base of African-Americans and Latinos.
Many of them are voters.
© Alan Caruba, 2012
Comment
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Comment by william greene on June 4, 2012 at 12:10pm -
i still say obama will not come out of the dem convention as their nominee.
he'll get rolled - or will pull an lbj & bow out "gracefuly". "i promised if i didn't fix my economy then i would limit myself to one term as president. being a sterling man of my word in every circumstance, i must stand behind my promise and will not run - i throw my full support to hillary clinton".
then he'd get a full pardon and never have to answer just what's behind those sealed doors, his appointments to the supreme court would stand, as would all he's signed - czars & presidential edicts probably still in place as well under the "she" progressive.
driving back to PA from trenton, nj - saw a frightful bumper sticker... "hillary 2012"
it ain't over 'till it's over.
his numbers continue to tank & the repubs are spending and planning on running against obama. the clinton years are the good old years to many disillusioned dems and independents. the thought of hillary the "early 20th century progressive" in the 2012 race scares me more than obama.
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Comment by Jo Gonzalez on June 4, 2012 at 3:44am -
If our Economy, the Market, et al, fall, the man in the White House will be getting his "jollies off". He hates the Country so much, he thinks we "have it coming". A wack-job, immersed in his Socialistic agenda, realizes the more we fail, the more the Country suffers, the more pain he can create the better. His sick mentality, and ego, have made him believe, he is Special, when in reality, he is an abysmal failure. The Failures are Loud and Clear, to the Citizens of this Country, and we know who is to blame. He must be a ONE TERM PRESIDENT. Now please try to send a donation to Scott Walker, if we win Wisconsin, we win the World!!!!
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Comment by William Homolka on June 3, 2012 at 10:23pm
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Why am I seeing on TPN and advertising plug for "Sign up to support Obama's agenda?" It fades in right on the top of the page. This seems treasonous, wouldn't you say??
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Comment by Joseph Jr Vanchieri on June 3, 2012 at 5:30pm
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Any news that is bad news for Dictator Obama is great news for this country. I bet all those in OPEC are losing sleep. Mitt Romney isn't Obamas biggest headache , although he is a migraine , Obamas record while being an illegal President is his biggest headache. In 2008 no one had the spine to question Obamas citizenship eligability to be President. Now that we have seen Obamas hatred for this country the truth will be told. If not before November then shortly after. I just finished the book " Amatuer " and what a bomb it is on Obama. It points out everything I have been posting in the last 3 1/2 years about Obama and his lies. I am loving every minute of it.
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Comment by Elwood Frantz on June 3, 2012 at 3:49pm
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Isn't there a commercial to re-elect Osurper that states that he gave more to Veterans healthcare than any other president? Hmmmmmmmmmm....something like that!
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Comment by Eileen Guthrie on June 3, 2012 at 11:13am
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oops! I left out the number $843 BILLION. Please not that most of that will be coming out of the pockets of the middle class.
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I've counted and researched ObamaCare and many articles that claimed that there are over $842 in new taxes in the Bill that was forced into law by a corrupt President and a large majority in Congress. Most of the Democrats had a hearing lose. Some of the taxes have already are in place but I'd say about half will go into effect on January 1, 2013, then about a quarter will pass in January, 2014 and the rest in 2015 and 2016. Here is one of the articles the calculated the tax increases.http://www.atr.org/comprehensive-list-tax-hikes-obamacare-a5758.
Obama's been a nightmare for this Country in general. I believe he hates this Country and the things that we as a Nation represent. I'm sick of sending our military to defend and assist a Country and then have them spit in our faces for helping them. Then they want money to rebuild their Country and want us to pay for it. When we start sending money to those Countries in the Middle East, that money will line the pockets of the corrupt in those Countries.
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Comment by Rich Knoch on June 3, 2012 at 10:47am -
Beware . . . . . the cornered Statist beast with rabies☺
Romney, if elected, and with a majority in the House and Senate . . . . controls the purse strings.
If he has the guts to simply not fund the currently ridiculous and un-Constitutional operations of our bizarre government a decrease in spending can occur . . . from day one.
A simple 2-5% across the board cut (yes . and all transfer payments) can be made rather easily when rational heads control the government.
Current regulatory stupidity and intentional ineptness can be reversed with Executive Orders and later repealed and/or nullified by Congressional action.
If we take this government back from the Statists, a quick turnaround can be achieved; i.e., develop energy resources, grow food, exporting the excesses . . . . for real cash.
All industries will come back on line when Americans see a real economic future, have jobs and a government that will let the economy grow . . . Adam Smith's Invisible Hand Principle at work, again!
This principle has worked for a couple of centuries in the USA, though most Dems deny it, but the Principle has been bureaucratically neutered as the Federal Government chooses winners and losers.
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Comment by Lizzie on June 3, 2012 at 9:52am -
First, we aren't out of the woods yet.
Second, we are going to have a much tougher time trying to turn the generally socialist course of our government when we don't have Captain Marxist at the helm.
With Mitt Romney, it will be ten times harder to argue for the necessity of overhauling our broken system of government. All of the money and power behind our gradual socialization will still be in place, however.
How are we going to argue for the relevance of the Tea Party when we aren't perched on the edge of a cliff?
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Comment by Elizabeth Shea on June 3, 2012 at 12:38am -
Here is some more bad news for Obama --
White House Insider: Obama in Serious Trouble -- And That Makes Him Very Dangerous
by Ulsterman“He owes them for everything. Everything he’s got – they gave to him. Everything. The guy’s Manchurian to the shoes on his feet.” - WHInsiderNote: For the past two years we have been receiving information from a longtime Democratic Party operative who has worked at the highest levels of American politics - including direct access to presidential administrations. Once closely allied to the Clinton machine, and then later playing a significant role in helping to elect Barack Obama in 2008, this individual came to realize just how inept and dangerous was the then-newly elected President Obama and his circle of closest advisers, namely Valerie Jarrett.
Since that time, this insider has time and again shared information that has later proven accurate, including rampant White House infighting, re-election strategies, Obama’s strained relationship with Democrats in Congress and the U.S. military, and more personal details specific to Barack Obama the man – a figure who suffers from emotional extremes including depression and who spends far more time in his second floor White House study than he does working in the Oval Office as President of the United States.
Here now is Part One of our most recent face to face interview with White House Insider…
http://theulstermanreport.com/2012/05/30/white-house-insider-obama-...
© 2013 Created by Judson Phillips.
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