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Charlie Sykes: Sykes Writes

Obama's Carlos Danger Economy

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Posted at Right Wisconsin

They’ll talk about government assistance for the poor, despite the fact that they’ve already cut early education for vulnerable kids, they've already cut insurance for people who’ve lost their jobs through no fault of their own. 

Or they’ll bring up Obamacare -- this is tried and true -- despite the fact that our businesses have created nearly twice as many jobs in this recovery as businesses had at the same point in the last recovery, when there was no Obamacare.

That's what we've been fighting for, but with an endless parade of distractions, political posturing and phony scandals, Washington has taken its eye off the ball. And I am here to say this needs to stop. This needs to stop.                              --President Obama
 
 
What does this remind you of:  the narcissm? Exhibitionism? Cringeworthy insecurity?  Okay, maybe this is a bit much, but only a bit. Obamanomics no longer even pretends to be about real substance; it’s all spin and over-promise. Less a real commitment to economic growth than a text message hyping its somewhat exaggerated prowess. 
 
Objects may be smaller than they appear on your Iphone.
 

Unfortunately, just as with Carlos Danger, the reality is a bit of a let-down. 
 
Dana Milbank calls the president’s speech "warmed over," saying that the president’s big pivot speech  "risks sending the signal that, just six months into his second term, Obama is fresh out of ideas."
 
Even Chris Cilliza is underwhelmed: "Meet President Obama’s new economic message. Same as his old economic message"
 
The reality?
 
Obama’s economy added twice as many people to food stamp rolls than to payrolls.
 
 
Since February of 2009, the first full month of Obama's presidency, 9.5 million Americans have dropped out of the labor force.  Nearly 90 million Americans are not working today!
 
That means that 1.3 Americans have dropped out of the labor force for every one job the administration claims to have created.
 
There are 15 million more Americans on food stamps today than when Obama assumed office.
 
At the end of January 2009, 32,204,859 Americans received aid from the Supplemental Nutrition Assistance Program. As of April 2013, there were 47,548,694 Americans on food stamps.
 
That means that more than two Americans have been added to the food stamp rolls for every one job the administration says it has created.
 
Under Obama, 1.6 million more Americans are collecting disability insurance. In February 2009, 9,334,369 Americans received disability payments.  Today, that number is 10,953,733.
 
And, no, taxpayers won’t be getting the money they dumped into GM.
 
General Motors stock would have to sell for $95.51 per share for taxpayers to break even on bailing out the company, according to a government watchdog's report released Wednesday.
 
That price is about three times what GM shares are selling for now, even after a 25 percent increase in the price so far this year.  
 
"There's no question that Treasury, the taxpayers, are going to lose money on the GM investment," Special Inspector General Christy Romero, author of the July quarterly report to Congress, said in an interview.

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