Friday, June 24, 2016

Obama's Backwards Economic Narrative

By Douglas V. Gibbs
AuthorSpeakerInstructorRadio Host

The numbers don't add up.  The information we are being fed do not relay the entire story.  While the democrats manipulate the numbers, the realty is that during the recession that coincided with Obama's entry into the White House, millions of working-age Americans have stopped looking for work  The working-age labor force participation rate remains 2 percentage points below pre-recession levels. The government does not count these ex-workers as unemployed. . . even if they would have jobs in a stronger economy.  In some regions the unemployment rate is lower despite the area having fewer jobs today than when George W. Bush was still in office.  While many have not returned to the labor market, others are working more than one job to make less than what they made before the rise of Barack Hussein Obama.  The time it takes to find work is longer.  Families feel less secure.  Consumers are less likely to spend.  Manufacturing has abandoned the United States, and has taken the jobs with them, because the Obama administration, in light of what is going on, have deemed it fit to become hostile towards industries, convincing many of them to depart for a better environment.

The long-term effects on our economy will be long-lasting.  It will take a while for wages to work their way back up to the cost of living. . . and artificially raising those wages through legislative efforts will cause more harm than good.  A $15 minimum wage would assist the lower classes for a while, until the cost of living catches up because of the higher cost to do business.  The middle class would not see any raise in pay, and when the cost of living goes up as a result of the increased minimum wage, the middle class would be pushed closer to the lower class, further widening the gap between the middle class, and the wealthy.

In 2007, Gallup polled Americans' perceptions of the state of the economy. Forty-three percent said “excellent” or “good.” Only 16 percent answered “poor.”  Now, Americans tell Gallup they think the economy is in poor shape, rather than in excellent or good condition.

While Obama claims we are having a robust recovery, and he should be given credit, the reality is what little recovery there is occurs despite Obama's policies, not because of them.  Even when the leadership in Washington is at its worst, Americans find a way to grow and prosper.

The only way for our economy to begin to take off is for government to get out of the way, reduce regulations, and reduce taxation against businesses.

My wife was asked the other day about her opinion regarding the wealthy.  The person asking the question proclaimed the wealthy to be greedy and unwilling to share their wealth with the rest of us.  My wife responded, "Without the wealthy, and big corporations, we wouldn't have any jobs at all.  Then how would they be able to share their wealth?  They help by growing, and creating more jobs.  Instead of complaining that they are rich, and you're not, how about you show some appreciation for having a job, and having the opportunity to become rich yourself if you're willing to take the risks."

-- Political Pistachio Conservative News and Commentary

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