The Missing Obama Recovery
Earlier this summer, President Obama’s administration declared that this would be the summer of recovery. As the administration continued to claim that it has saved or created between 2.5 million and 3.6 million jobs, they also assured us that the economy would continue to improve as a result of the government’s stimulus spending. But with 32 days of summer left and children going back to school, the summer of recovery seems to have gone on vacation with the President.
During the past week, jobless reports showed new unemployment claims climbed to 500,000 (for the week ending August 14) while the unemployment rate in July remained at 9.5%. The stock market showed continued uncertainty as the Dow and S&P500 fell slightly while the NASDAQ rose by less than one point this week. Other reports indicated the mortgage industry continues to suffer as the number of housing foreclosures in July reached the second highest total EVER for a single month. It was also reported this week that the administration’s mortgage relief program is falling well short of its promised results and consumer confidence in the economy remains low. The President’s response to all of this was to push for the passing of yet another “jobs” bill called The Small Business Jobs and Credit Act of 2010 and to start his 10 day vacation in Martha’s Vineyard.
Representatives of the administration are defending the President’s vacation and insist that it isn’t an actual vacation because he is always working. Others on the left have actually compared the number of days President Obama has been out of the White House (on vacation) to the number of days President George W. Bush spent out during his tenure in office. These things are done to help support President Obama’s assertions that his administration will not rest until they have things under control. But this economy is out of control and the Democrats can proudly declare themselves as winners of the Out of Control Spending race and as the greatest advocates of an enormous and omnipotent government. Their push for “progressivism” (a.k.a. collectivism, communism, Marxism, socialism) and its ideology for a centrally controlled society are failing to improve the human condition, just as it has failed throughout history. But the Obama administration and the Democratic party are going to keep moving full speed ahead in their quest to make the federal government all powerful. They will ignore the negative results to our economy and misrepresent the facts in an effort to bolster their agenda.
The President promised that upon his return from Martha’s Vineyard he would push the Senate to pass the latest jobs bill. Maybe we can convince President Obama to spend the rest of his term on vacation so the economic recovery will return early from its vacation. Unfortunately, based on what the Democrats and this President are doing, we won’t see the promised “summer of recovery” for years to come.
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