Friday, October 26, 2012

Barack Obama - #4328 - CHART: Doing the Math: Obama Recovery Still the Worst in Decades - Hot Air (2) Detroit News: Thanks for Those Auto Bailouts, But We Pick Mitt - Hot Air


CHART: Doing the Math: Obama Recovery Still the Worst in Decades - Hot Air - Lately, Barack Obama has taken to claiming that he’s leading a slow but steady economic recovery, hampered by the nature of the 2007-8 Great Recession and other external factors. Two different analyses today rebut that assertion on the eve of the next advance report on quarterly GDP. First, Investors Business Daily’s John Merline refutes both the economic recovery and the supposedly mitigating context in its analysis, buttressed by a charted comparison to previous American recoveries: In the 12 quarters since the Obama recovery started, real GDP has climbed 6.7%. That’s below even the GDP growth rate in the 12 quarters after the 1980 recession ended — despite the fact that there was the intervening deep and prolonged 1981-82 recession. The picture isn’t any better when looking at job growth. Obama often boasts that the economy has added 5.2 million private-sector jobs in the 31 months since employment bottomed out in February 2010. But that rate of job growth lags every previous recovery as well if, as Obama does, you start counting at the point where jobs bottomed out.  Read more.......

Detroit News: Thanks for Those Auto Bailouts, But We Pick Mitt - Hot Air - President Obama has lately been trying to make hay over Mitt Romney’s now-infamous “Let Detroit Go Bankrupt” 2008 article, mischaracterizing it as the callous approach of a cold-hearted let-them-eat-cake capitalist that contrasts sharply with his own oh-so-munificent taxpayer-funded bailout plan. To hear the president tell it, Romney’s plan would’ve been a disastrous failure while his own has been a resounding success and proof of the soundness of his economic policies — but I have a feeling his recent revisits to the issue may have something to do with the possibility that Michigan may turn out to be a little bit more in play than previously anticipated. Unfortunately for him, even Detroiters can recognize persistently poor economics when they see them. While applauding the president for “leading the rescue” of the auto industry and assuring readers not to “assume it was a no-brainer for a conservative newspaper to endorse a conservative presidential candidate” (because, hey, who doesn’t like free money?), the Detroit News felt compelled to offer their endorsement to Mitt Romney: Hope and change are still what Americans are seeking. This time, Republican challenger and Michigan native Mitt Romney offers the best hope of changing the nation’s fate.  Read more......

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