Thursday, 24 November 2011

THE OBAMACONOMY

Ken Berwitz

Technically, we are no longer in recession.  Every quarter we inch up a tiny little bit.

That make you feel better about the economy?  I didn't think so.

Here, excerpted from Peter Ferrara's excellent article at townhall.com, are some of the specifics:

...unemployment has been stuck at 9% or above for the longest period since the Great Depression. Unemployment for blacks has remained over 15% for over 2 years, with Hispanic unemployment stuck well into double digits over that time as well. Teenage unemployment has persisted at nearly 25%, with black teenage unemployment still nearly 40%.

The U6 unemployment rate, reflecting all of the unemployed still wanting work and the underemployed who can't get full time work, is still 16.2%. That includes an army of the unemployed or underemployed of over 26 million Americans. And that still doesn't fully count the millions of Americans who have given up and dropped out of the work force altogether.

On September 13 came the Census Bureau report fleshing out the full meaning of no economic recovery under Obama. Median family income has fallen all the way back to 1996 levels. The Wall Street Journal further reported on September 14, "Earnings of the typical man who works full time year round fell, and are lower--adjusted for inflation--than in 1978."

The poverty rate climbed to 15.1%, higher than in the late 1960s when the War on Poverty was getting underway, $16 trillion ago. The child poverty rate climbed to 22%, nearly a quarter of all American children. The total number of Americans in poverty is higher than at any time in the over 50 years that the Census Bureau has been tallying it. Moreover, the number of Americans ages 25-34 living with their parents has soared by 25%.

Obama apologists can't continue to blame the depths of the previous recession, and they can't because the historical record makes plain that the worse the recession, the stronger the recovery. Based on that historical record, we should be completing the second year of a booming economy by now.

In the second year of the Reagan recovery, real economic growth boomed by 6.8%, the highest in 50 years. In the first two years of that recovery, 7.6 million new jobs were created, on the way to 20 million jobs created during the first 7 years. Presently, we are still 6 million jobs below the peak before the last recession, four years ago.

Not a pretty picture, is it?

But it is well worth remembering the next time someone talks to you about the "Bush recession".  

When Barack Obama, with his huge majorities in both houses of congress, inflicted the so-called "stimulus package", he took ownership of this economy.  And now, almost three years later, this is what we have to show for it.  The Obamaconomy.

Don't expect him to run on it in 2012.....

Zeke .... .... Memo from George H. W. Bush (41) to Barack H. Obama: ..... ..... "It's the Economy, Stupid" .... .... ..... This time, it looks much worse -- the anchor of debt, up $4 trillion. ... The threat of hugely higher interest expense on the national debt, when rates begin to reflect inflation. ..... Economies in Europe, and even China are heading down. ..... .... We be in deep, deep trouble. ..... ..... Universities will feel the effect, as students will no longer take on 6 figure debt with no prospect of a job with a salary that can pay it off. .... .... (11/24/11)


ED SCHULTZ & PIG COPS

Ken Berwitz

Ed Schultz finds it distasteful to refer to cops as "pigs".  It turns his stomach.  So much so that he used the term himself just last night, when describing a police officer who used pepper spray on "Occupy" protesters at UC-Davis after they ignored his order to disperse.

This is an actual quote from the transcript of Schultz's "Ed Show" on MSNBC (where else?):

It is amazing to me that there is a law enforcement official who felt it compelled and Im going to say something now that is really distasteful but I feel like I have to say it because I am a product of the sixties this is how law enforcement got the term pig. This is how they got labeled pigs. And that term just turns my stomach. I equate this to the Rodney King beating. I really do. The actions no different than taking a nightstick out on a guy or to go right up and pepper spray people right in the face when theyre absolutely harmless. Whats the difference?

Ed Schultz asks "What's the difference?"  Well, let's compare. 

First we have the Rodney King incident, excerpted from wikipedia.com (which, in this case, has it exactly right):

As George Holliday's videotape begins, King is on the ground. He rises and moves toward Powell. (Solano termed it a "lunge," and said it was in the direction of Koon.)[16] At this time, taser wires can be seen coming from King's body. As King moves forward, Officer Powell then strikes King with his baton. The blow hits King's head, knocking him to the ground immediately.[17] Powell hits King several additional times with his baton. The videotape shows Briseno moving in to try and stop Powell from swinging, and Powell then backing up. (Koon reportedly yelled "that's enough.") King then rises to his knees; Powell and Wind continue to hit King with their batons while he is on the ground.[18]

So we have two police officers, apparently unaware they are being videotaped, absolutely beating the excrement out of King.

And the UC-Davis incident? 

We have a police officer trying to get protesters to move by giving them a dose of pepper spray -  which will make them uncomfortable for a short period of time and do no physical damage of any kind.  He does it in full view of everyone, presumably because pepper spray is so minimal that it won't matter.

Yep, that's a direct comparison there all right (feel free to wipe off the sarcasm that is now dripping from your monitor). 

They actually pay this guy to say things like this on TV? 

Oh, wait.  It's MSNBC.  Never mind; he deserves a raise.


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