Home » Opinion » Editorials
Summer of Stasis: Stuck in an economic rut
The White House called the summer of 2010 the “Summer of Recovery.” This year we have the Summer of Stasis. If this kind of economic growth is what the President means by “forward” (his new campaign slogan, cribbed from MSNBC), it is no wonder he didn’t make the varsity basketball team in high school.
The official Summer of Recovery campaign was launched in June of 2010. The unemployment rate was 9.4 percent. By August it was 9.6 percent. By November it was 9.8 percent. It remained at 9 percent or above for nine of the next 10 months.
By this January the painfully slow recovery had worked the unemployment rate down to 8.3 percent, and it has hovered between 8.1 and 8.3 percent since. For the past two months it has been stuck at 8.2 percent. (Hey, at least he’s consistent.)
It is an odd time for the President to use “forward” as a slogan. The economy is stuck in neutral, and instead of offering new ideas to get things moving again, he is offering exactly the same policies that have kept us motionless.
The last time the unemployment rate was below 8 percent was 42 months ago — the month Barack Obama moved into the Oval Office. As Mitt Romney said in Wolfeboro on Friday, a President cannot control everything, and so a few jobs reports provide insufficient information for judging a President’s policies. But 41 months’ worth unemployment higher than 8 percent — starting with a President’s first full month in office — indicate that the President’s policies are hindering rather than helping the economy.
READER COMMENTS: 1
- Pat Buchanan: Barack Obama is the spectator President - 0
- Jonah Goldberg: Obama's 'idiot' defense - 1
- Another View: Amendments to the Senate casino bill make it worth passing - 4
- Charles Arlinghaus: On Medicaid expansion, the right answer is, 'not yet' - 2
- Deroy Murdock: A bloated state necessarily bullies, as the IRS did - 3
- Kathy Sullivan: The IRS scandal exposes flaw behind tax-exempt politicking - 24
- Pat Buchanan: For what should Americans die? - 1
- Your Turn, NH: Common Core will be a costly burden for students, taxpayers - 10
- Jonah Goldberg: The IRS was only following Obama's lead - 15
READER COMMENTS: 0
- 65 mph OK for E-ZPass drivers with opening of new lanes at Hooksett toll plaza - 0
- NH Senate kills House-passed gas, tobacco tax hikes - 0
- Senate Finance Committee rejects Medicaid expansion - 7
- Man wielding pipe robs Cumberland Farms in Goffstown - 0
- Buchholz moves to 7-0 as Red Sox post win - 0
- Gambling bill scuttled, 'Now it is going to be really tough' for budget - 29
- NHIAA Roundup: BG girls’ tennis team sweeps Pinkerton - 0
- NHIAA box scores, summaries for May 22 - 0
- Officials say Goffstown High ‘safe’ after threat of violence - 1
License revocations for DWI announced
Memorial Day events in New Hampshire