Barack Obama – Economy is better than you think

What a difference a few months make. Just two months ago President Obama announced Osama bin Laden was dead. Then just a few weeks later it was announced that Chrysler had repaid its bailout loans. It was proof that the stimulus worked. The automotive industry is healthier than ever and hundreds of thousands of jobs have been saved.

On Friday it was announced that job growth was smaller than expected. People began panicking. But if one looks at the numbers, the economy is doing much better than people are being led to believe.

On the same Friday the low job growth numbers were released, the Dow Jones finished at 12,657 points. For anyone who follows the stock market, until the beginning of this year, the Dow Jones has NEVER been over 12,000 points. In the last six months it has risen an astonishing 600 plus points. This number may fall somewhat, but it will be down from record highs.

The NASDAQ is also trading at new highs. On Friday it finished at 2,859 points. This has been a gigantic recovery from trading below 1,400 points in 2009. All the recovery has happened while Barack Obama has been in office.

Stalling economy – uh, no.

Corporations are seeing record profits and overall, seem to be healthy. Here are a couple of articles…

http://www.huffingtonpost.com/2011/03/25/corporate-profits-2011-all-time...

http://economix.blogs.nytimes.com/2011/06/30/the-wageless-profitable-rec...

On Friday it was announced that the private sector added 57,000 jobs. Although the number is lower than what some people were hoping, it marks the 16th consecutive month of private sector job GROWTH. Again, that’s 16 straight months of private sector job GROWTH.

What brought this down was firing in the PUBLIC sector. Hello, John Kasich. Hello, Scott Walker.

The public sector lost 39,000 jobs. And almost all of the jobs lost were TEACHING jobs.

The increase in unemployment are the direct result of Republican's draconian budget cuts. JOHN KASICH and other Republicans are to blame for the spike in unemployment – not Barack Obama.

The New York Timesstates:

”There is plenty of evidence, in fact, that the spending cuts already imposed by Republican intransigence are responsible for a great deal of joblessness. Although the private sector added 57,000 jobs in June, that tiny progress was reduced by the 39,000 jobs shed by federal, state and local governments, much of which came from education.”

The Democrats have got to get on top of this. They have stop letting the Republicans and Republican media outlets articulate the economy without a solid counter voice. Ted Strickland let himself get beat up over complete lies on Ohio’s economy. Barack Obama must not let the same thing happen to him.

Sponsored Post

The Views Expressed In Reader-Contributed Comments, Forums And Posts Are Not Necessarily Those Of OhioDaily Or Its Management.