What Will Obama Do Now?
So the May jobs report is out. It's very bad. The consensus on Wall Street, as of yesterday, was to expect a report of 150,000 new jobs and 8.1% unemployment.
The report, instead, was of 69,000 new jobs and 8.2% unemployment. April jobs were also revised down to just 77,000 new jobs. U-6 (the broader unemployment rate) surged to 14.8% from 14.5%. The number of long-term unemployed (jobless for 27 weeks and over) rose from 5.1 to 5.4 million in May. And as James Pethokoukis points out, the unemployment rate would be 10.9% if labor force participation was the same as when Obama took office
A really bad report.
I'll share three tweets. This one from John Podhoretz refers to Mark Zandi, the Obama administration's favorite "independent" economist who always spins economic news so it's funny:
Oh. My. God. RT @chucktodd Mark Zandi said on @dailyrundown there was little redeeming in this jobs report. All bad news.
Yeah, it must be bad if Zandi is unable to find any positive spin.
Jonah Goldberg reminds us how the Obama administration has attempted to handle the economic news thus far:
Obama responds to jobs numbers: This just shows the GOP war on women and birth control has taken a terrible toll. Oh, and Bain!!1!
Podhoretz also notes how the news is being spun:
And this is why CNN has 3 viewers now. "CNN Political Ticker @PoliticalTicker Republicans blame Obama for job numbers"
This led to a discussion at the Hemingway house about what happens now. I figured that the mainstream media would prefer to talk about the "War on Women" and any other distraction they can find rather than ask Obama about his policies that harm or inhibit the economy.
My wiser half said that even if it's true, there is nowhere for him to hide. Even if the incompetent media will play their games, the American people will want answers about how things have gone so wrong.
So, what do you think happens now? What will Team Obama do? More attacks on religious liberty? Or what?
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Comments:
Sep '10
Re: What Will Obama Do Now?
Unmanned drones are job killers. Fast and Furious does a better job boosting the economy as long as the body count doesn't exceed the employment count.
Sep '10
Re: What Will Obama Do Now?
Obama's relationship with the voters reminds me of Larry Miller's old joke about divorced people who remarry:
"That's like taking a carton of milk out of the fridge and saying: "That smells sour, I think I'll put it back and see if it smells better next week.""
Apr '11
Re: What Will Obama Do Now?
Will the President get desperate enough to wage war on Iran to boost his chances?
Will Holder continue to wage Lawfare on states that attempt to clean up their voting systems?
Will the Press do their best impression of Baghdad Bob, day after day?
Is the Pope a Catholic?
Jan '11
Re: What Will Obama Do Now?
Sorry. It's obligatory:
Jun '11
Re: What Will Obama Do Now?
Next WH press conference:
Apr '11
Re: What Will Obama Do Now?
There's a story in the NYT today about how Obama single-handedly invented the Stuxnet virus that disabled Iran’s uranium enrichment program. These opportunistic leaks look pathetic and weak.
You people need to pay attention to the important stuff.
Our super macho president is obviously too busy picking kill targets and waging new-age war like the true manly stud that he is to concern himself with petty issues like "unemployment". Besides, bankers are evil.
The Obama campaign in a nutshell....
Blah, blah, blah, FAIR SHARE, blah, blah, blah, KILLED BIN LADEN, blah, blah, blah, KOCH BROTHERS, blah, blah, blah, BAIN, blah, blah, blah, KILL LIST, blah, blah, blah, WAR ON WOMEN, blah, blah, blah.
Lather, rinse, repeat.
Nov '11
Re: What Will Obama Do Now?
Republican obstructionists! Road blocks! Tea Party Terrorists! Cryptoracism! Stimulus wasn't big enough! Balanced approach! Millionaires and billionaires!
I can't grasp how someone will talk about how awesome getting 600 bucks back from Obama's payroll tax cut extension is, then turn around and whine about how low the government's revenues as a percentage of GDP are (while ignoring the spending as a percentage of GDP, and ignoring Obama's zero-vote getting budgets). Obama worshipers live in a strange unreality.
May '10
Re: What Will Obama Do Now?
Let's see... comprehensive immigration reform? More "investment" in green jobs? Have AG Holder sue to block voter ID? Insult another ally? Shut down domestic oil production? Come out for sodomy and gender-specific abortion? Golf and White House galas? Thirty-thousand-a-plate fundraisers (no press, please) More gassy, droning, self-congratulatory speeches? The list is endless.
And blame Bush and the republicans. Can't forget that. Forward.
Dec '10
Re: What Will Obama Do Now?
Elect Mit Romney and we will be under constant attack from tigers. (TM C.U.)
That would probably work in Indonesia.
Apr '11
Re: What Will Obama Do Now?
Offer donors Dinner with Anna Wintour and Sarah Jessica Parker. Because he's a regular Joe.
Seriously, while the Vogue demo gets chased after, a lot of other groups are, too. I'm convinced that this election will be decided more by invisible campaigning than by any of the stuff that we're seeing. This has been a good week for Team Mitt, but not such a good week that the dynamic of the election has changed.