The Obama Administration says we’re Moving in the Right Direction Despite 30 Months of Bad Economic Reports

Posted by PITHOCRATES - July 7th, 2012

Week in Review

The economic news is in.  And it’s not good.  Again.  But the Obama administration says that’s it important not to read too much into one monthly report.  Again (see Obama: 30 months of excusing bad jobs numbers by Byron York posted 7/6/2012 on The Washington Examiner).

The Obama White House says Americans should not “read too much into” the latest bad news from the jobs front.  Employers added just 80,000 new jobs in June — far fewer than needed for a healthy recovery — and the unemployment rate stayed at 8.2 percent.

Not long after the new figures were released, the White House sent out a statement from Alan Krueger, chairman of the Council of Economic Advisers.  Facing a bleak situation yet again, Krueger said, “It is important not to read too much into any one monthly report.”

If that sounds familiar, it is because that is what the Obama White House has said during month after month of troubling economic reports.  The White House has said it so often, in fact, that the Romney campaign has compiled a list of 30 — yes, 30 — examples, going back to November 2009, of the administration cautioning that Americans should not “read too much into” the latest bad economic news.

But when these ‘any one monthly reports’ repeat for some 30 consecutive months I’m thinking we can read a lot in these monthly reports.  When coupled with the rosy economic spin they put on (like the Recover Summer back in 2010) you can make but one conclusion.  The Obama administration doesn’t understand a thing about economics.  Which is why three and half years of their programs have resulted in nothing but ‘we shouldn’t read too much into these monthly reports’.

A failure period lasting some 30 months?  I think the real danger is if we don’t read too much into these reports.  For up to now there is a perfect correlation between these horrible economic reports and President Obama’s time in office.  Perhaps if we vote one out we can remove the other.  And get some better economic news.  Sometime following the 2012 election.


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