President Obama makes statements that set him up to blame GOP for the lousy economy that he hasn’t fixed.
For years and years we heard that the economy was all Bush’s fault (even while the Obama Administration doubled down on his worst policies, like stimulus and money-printing). Now, the Democrats have started boasting about this late, weak, and frail so-called “recovery” and acting like it is an impressive accomplishment.
Think about it hypothetically. What would you do if you were a politician who wanted to take credit for a “recovery” but who knew it was vulnerable to a crash?
Obviously, you would try to spin a narrative that portrayed you as the source of the economic good news but your enemies as the reason for any economic bad news.
Thus, the Daily Caller headline: “White House Urges Congress Not To Screw Up New Economic Gains.”
The White House says it is doing a very good job on the economy and asked Congress on Friday to refrain from screwing it up.
The Bureau of Labor Statistics reported a gain of 321,000 jobs in November — much higher than the 2014 average of 214,000 jobs per month and well above some economists November prediction of 230,000. The average work week and hourly wage also increased slightly.
The White House touted the positive gains in a statement Friday, pointing to 57 straight months of job growth, which is the longest streak on record, and 10.9 million added private sector jobs.
Jason Furman, chairman of the White House Council of Economic Advisers, urged Congress not to shut down the government and to avoid creating “disruptive and counterproductive fiscal uncertainty” that could hurt the economy.
If the so-called government “shut down” (if only) were so economically “disruptive” then how can the Obama Administration explain their own alleged success? The “shut down” made no real difference in the economy at all as far as anyone can tell. So the claim that another such non-event would be disruptive now is baseless.
But while there is no evidence the brief and overblown hype of the “shut down” had much effect on the economy, the fact remains that this “recovery” is embarrassing. The official unemployment rate is simply regime propaganda. As Economic blogger Mish argues:
The official unemployment rate is 5.8%. However, if you start counting all the people who want a job but gave up, all the people with part-time jobs that want a full-time job, all the people who dropped off the unemployment rolls because their unemployment benefits ran out, etc., you get a closer picture of what the unemployment rate is.
That rate is 11.4 percent. And even that number “would be way higher still, were it not for millions dropping out of the labor force over the past few years.”
And, by historical trends, we are due for another recession. So any moment we could see the end of this vaunted recovery. I suspect we will see constant warnings from the Obama Administration to not “reverse our accomplishments.” In that way, they can be constantly ready with a story to blame Republicans for the next downturn.