June jobs figures
are out and they are dismal, as was May’s jobs reports from the Labor Department. Three years after the White House declared an official end to the recession, the unemployment rate remains well above 8 percent and a relatively pathetic 80,000 jobs were generated last month.
Meanwhile, 377,000 Americans filed unemployment claims last month and 389,000 filed for unemployment in May
compared to 69,000 jobs created that month. While new unemployment claims consistently average over 360,000 per month, the U.S. economy has added an anemic average of 150,000 jobs per month in the last quarter compared to an average of 226,000 in the first quarter of 2012. Is that record worth voting for or can we do better?
The string of bad jobs and unemployment reports this year suggest that three years after the Great Recession “officially” ended, the job market is weakening instead of strengthening. In 2008, candidate Obama
pledged repeatedly to cut the deficit in half and create jobs, pretty much the exact opposite of what he has actually done.
However, Mr. Obama blames
former President George W. Bush and the Europeans
for his administration’s gloomy economic record. But with election season in full swing, Democrats at large, including Barack Obama, are concerned that too many voters are feeling disenfranchised and abandoned
by his administration. It is paramount to the Obama campaign, that it successfully shifts the blame for a sour economy on others.
Mr. Obama can still read teleprompter speeches, however his words no longer sound confident or inspiring; instead, the President seems angry and defiant. Now that his re-election campaign is on the short end of donations, Mr. Obama is leaking his concerns about his need for more campaign cash
even as he spends money faster than it comes in. This from the "billion dollar candidate."
facing re-election continue to tip-toe away from Obama
as they campaign, many announcing they will not even attend the Democratic Convention in Charlotte, N.C.
With just four more jobs reports due out before the elections, and the economy slipping away, control of the U.S. Senate is still a tossup while the House of Representatives will almost surely remain under control of a significant Republican majority - and if Mr. Obama’s coat tails get any shorter than in 2010, he might as well be wearing a T-shirt.
An Associated Press-GfK poll released last month found that more than half of those surveyed disapproved of President Barack Obama’s handling of the economy. Meanwhile, poll after poll suggests voters believe the country is headed in the wrong direction
, by wide margins.
Still, President Obama is striking out at nearly everyone. Whether it’s his donors, Republicans, Europe or the private sector that he recently said is “doing fine”
before he said it wasn’t doing fine - it's all their fault.