Obama is constantly reminding us that he inherited the “worst economy since the Great Depression.” But if that is true, history tells us our recovery should be that much stronger.<quoted text>
I too would like to see a faster recovery, but then Rome wasn’t destroyed in a day and can’t be rebuilt in a day. The recovery is, of course, moving along in the right direction and has been since November 2009, less than a year after Obama took office: http://data.bls.gov/timeseries/LNS14000000 .
Rather than ignoring it, I fully acknowledge your conviction that “things are going to get much, much worse when Obamacare kicks in” and “we're already witnessing the consequences now.” However, it is purely unsupported speculation, so I disagree with it especially in view of (1) the fact that the rate of unemployment has been decreasing now for three years and (2) my understanding of the Ryan/Romney budget, which is that it makes no sense because it is unsupported with actual numbers. If the Ryan/Romney budget made sense, I would certainly acknowledge it and proclaim both of them economic recovery superstars.
Yet since the recession ended in the summer of 2009, the U.S. economy has added only 2.6 million new jobs, according to the total civilian non-farm employment monthly survey, even though total employment is still 4 million below the end of 2007.
The seemingly improving unemployment rate, reported Friday at 7.8%, is creeping downward only because millions of Americans are leaving the workforce, too discouraged to look for jobs. The civilian participation rate of potential workers over 16 years of age is down to 63.6%, a level we haven’t seen for decades.
America knows what we can expect from four more years of President Obama. He’ll tell us how terrible Republicans are, but does not give us any reason to hope that things will change for the better.
We must ask, is this the best we can do? With President Obama’s commitment to big-government, big-regulation policies of the left, it is the best he can do. But Americans know we as a country we can do better.