Job Creation Under Barack Obama: Less Than Meets The Eye?
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Job Creation Under Barack Obama: Less Than Meets The Eye?



In the aftermath of yesterday’s better than expected jobs number there have been many analyses in the ...

In the aftermath of yesterday’s better than expected jobs number there have been many analyses in the
media on both sides of the aisle, either attacking or defending Obama’s track record in creating jobs.
All have come up with arguments which according to their authors, are solid and defensible. There is
one analysis, however, which is missing,



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Job Creation Under Barack Obama: Less Than Meets The Eye? Job Creation Under Barack Obama: Less Than Meets The Eye? Document Transcript

  • Job Creation Under Barack Obama: LessThan Meets The Eye?Zero HedgeNovember 4, 2012In the aftermath of yesterday’s better than expected jobs number there have been many analyses in themedia on both sides of the aisle, either attacking or defending Obama’s track record in creating jobs.All have come up with arguments which according to their authors, are solid and defensible. There isone analysis, however, which is missing, and that is a follow up of what we showed yesterday in “ChartOf The Day: America’s Geriatric Work F(a)rce.” In it we demonstrated the very much “under theradar” schism of America’s workforce since the NBER-defined official end of the recession in June2009 into the “haves“, or those above 55, who have been able to get a job since the end of therecession, and the “have nots“, or all those in the labor force who have not been able to find a job. Sohow does this data look when extended to the beginning of Obama’s term, or the 46 full months
  • starting with his inauguration in January 2009, and continuing through the latest, October 2012 datapoint. The chart is presented below; you decide.And for those wanting a more granular breakdown, here it is by all the age categories tracked by theBLS.In summary: while those in the 55-69 age group have gained nearly 4 million jobs under PresidentObama, everyone else has lost just over 2.5 million.In other words, those aged 55 and over should be scrambling for “4 more years.” Everyone esle…perhaps not so much.Obama seeks votes as complaints mountover storm responseWashington TimesNovember 4, 2012Facing questions about his campaigning for re-election while millions of Americans still awaitgovernment relief efforts from superstormSandy, President Obama said Saturday that oneof the disaster’s positive results was “leaders ofdifferent political parties working together to fixwhat’s broken.”
  • “It’s a spirit that says, ‘We’re all in this together,’ ” Mr. Obama told about 4,000 supporters in a high-school gym in northeast Ohio. “We rise and fall as one nation and one people.” The president then pivoted quickly to his partisan stump speech, attacking Republican rival Mitt Romney for pursuing “top-down economics” for the wealthy and billing himself as the true agent of change in the election on Tuesday. “We tried their ideas, and they don’t work,” Mr. Obama said of the GOP. “Youknow I’ll fight for you and your families every single day. It’s time to keep pushing forward.”The president told supporters to take their friends and neighbors to vote in three days. “Make sure theyvote for me before you drag them to the polls,” he said.Some critics are accusing Mr. Obama and other government officials of praising storm relief efforts toosoon.Louisiana Gov. Bobby Jindal, a Republican, on Saturday urged the White House and state leaders in theNortheast dealing with the recovery to “stop declaring victory, stop giving speeches” and focus onhelping victims of the storm.Obama campaign spokeswoman Jen Psaki, defending the president’s full campaign schedule amid thepost-storm suffering on the East Coast, told reporters that Mr. Obama is “losing his voice a little bit outon the campaign trail” because he is talking on the phone constantly with state and local officialsbetween rallies where he stumps for votes.“In between every single event, he basically walks off the stage, gets on a phone call with governors,mayors and first-responders,” Ms. Psaki said. “Just from being backstage, that’s what he’s doing everysingle moment. He’s focused on it every minute he’s not on the stage.”The president also was losing his voice from round-the-clock campaigning in the days before the stormhit the United States. Mr. Romney also has been campaigning full-time since taking a day off tosupport relief efforts on Tuesday.Before leaving Washington Saturdaymorning for a full day ofcampaigning, Mr. Obama received abriefing at FEMA headquarters onthe recovery efforts from the massivestorm and said the hardest-hit states“still have a long way to go.”FEMA administrator W. Craig Fugateand Homeland Security SecretaryJanet Napolitano told Mr. Obamaabout efforts in New York, NewJersey and elsewhere to restore
  • power, pump water out of flooded homes and businesses,care for people who lost their homes, remove debris and getNational Guard in place. The president said relief workersare putting in “120 percent” effort.“We don’t have patience for bureaucracy,” Mr. Obama toldreporters. “We don’t have patience for red tape. It is apainstaking process, but we are making progress.”Since the storm struck last weekend, millions of residentshave gone without electricity, gasoline shortages have hit themetropolitan New York City region, and complaints haverisen about the slow pace of aid reaching areas such as StatenIsland, N.Y., and the New Jersey coast. The clamor for helphas increased, after state officials such as New Jersey Gov.Chris Christie initially praised the president’s quick responseto oversee recovery efforts.“Obviously we have now seen that after the initial searchand rescue that the recovery process is difficult, it’s painful,”Mr. Obama said. “But I’m confident that we will continue tomake progress as long as state and local and federal officialsstay focused. There is nothing more important than usgetting this right.”Mr. Obama spent a little more than an hour Saturdaymorning in the briefing, which included video conferenceswith the governors of New York, New Jersey and Connecticut, and several mayors. He said “we’restarting to shift” people from shelters in the affected areas to temporary housing.The president said helping people recover from the storm is his “number one priority.” Reporters askedabout the frustration of residents in places such as Staten Island, but Mr. Obama did not respond to theirquestions. The president also campaigned Saturday in Milwaukee, Wis., Dubuque, Iowa, and finally at a late-night rally in Bristow, Va., with former President Bill Clinton and musician Dave Matthews. Mr. Clinton, speaking to the crowd of about 24,000 at the Jiffy Lube Live amphitheater, poked fun at Mr. Romney for avoiding taking stands on various issues. He said Mr. Romney “has tied himself in so many knots … he could be hired as the chief contortionist for Cirque de Soleil.”Obama seeks votes as complaints mount over storm response VIDEO BELOW
  • NATE SILVER: Obama’s Odds Of WinningHave Now Hit 85%Henry BlodgetBusiness InsiderNovember 4, 2012With two days to go, Obama’s odds of winning re-election have reached their highest level ever,according to New York Times polling guru NateSilver.Betting markets Intrade and Betfair also show thePresident maintaining a solid lead, though with muchless conviction.These assessments come despite the continuedrelease of some polls that look good for Romney.The difference between the national polls and thebetting markets, some polling experts say, is that thenational polls focus on the popular vote, whereasSilver’s odds focus on state-by-state polls aimed atdetermining the winner of the electoral college and,with it, the Presidency. Nate Silver’s model alsoaverages hundreds of polls.Nate Silver is so confident in his polling model thathe publicly offered to bet MSNBC host JoeScarborough who would win the election.Scarborough, who maintains that the election is a“toss-up,” has not accepted the challenge.Let’s go to the data…First, Nate Silver now gives Obama 85% chance ofreelection. That’s up from a post-first-debate low of~60% three weeks ago, and it’s higher than the 80%previous all-time peak Obama hit just before the firstdebate.Nate Silver, New York TimesOn Intrade, meanwhile, Obama’s odds are now at 63%, a drop of a few points from yesterday, back in arange in the low 60s where they’ve been for the last few weeks.
  • IntradeIntradeAnd, on Betfair, Obama’s odds are holding above 75%.Betfair In short, in everything but some of the national polls, Obama hasa strong lead heading into the last two days of the race.
  • Obama Re-Election Fears Spark HugeGun SalesInfowars.comNovember 3, 2012Fears that Barack Obama would use a lame duck second term to eviscerate gun rights are fuelingrecord firearms sales once again, with gun store owners labeling Obama, “the best gun salesmen we’vehad.”Obama Re-Election Fears Spark Huge Gun Sales a new law allowing carrying without a permit, concealed-firearm permits in the fiercelyindependent state of Wyoming in the last quarter have smashed records set in previous years.“People are definitely scared of a president who has voted when he was a senator against guns,”Anthony Bouchard, director of the Wyoming Gun Owners Association in Cheyenne told the WyomingStar Tribune. “[If Obama gets re-elected] he’s in a lame-duck session and he can do the things he wantsto do. That’s what we’re afraid of.” Irvin Walker, owner of Triggers Gun Shop in Mills, called Obama,“the best gun salesmen we’ve had,” and said he was expecting another wave of customers afterNovember 6 if Obama defeats Mitt Romney, despite the fact that sales are already riding high. Gun andammunition prices are expected to soar should Obama secure a second term, with rifles predicted todouble in cost just as they did in the aftermath of Obama’s 2008 victory. Despite prolonged economicturmoil, gun sales have bucked the trend, with both Ruger and Smith & Wesson operating at maximumcapacity and struggling to keep up with demand. With Ruger’s sales up 86 percent since Obama tookoffice, the company’s previous quarter sales demolished all expectations, with sales totaling $118million dollars.
  • Voting for a Third Party Candidate Is NOTa Wasted VoteWashington’s BlogNovember 4, 2012Preface: Many Americans are waking up to the fact that the Republican and Democratic candidatesare incredibly similar. See this, this, this, this, this, this, this.Many people are starting to realize that Obama and Romney are virtually indistinguishable onwar,jobs, freedoms and favoring fatcats instead of the little guy.Many of us want a third party candidate to win … but are afraid of “wasting our vote”.Leading conservatives and liberals say that we should vote for a third party candidate.Judge Napolitano explained today why voting for a third party is not wasting one’s vote: Can one morally vote for the lesser of two evils? In a word, no. A basic principle of Judeo- Christian teaching and of the natural law to which the country was married by the Declaration of Independence is that one may not knowingly do evil that good may come of it. So, is a vote for [a third party] or no vote at all wasted? I reject the idea that a principled vote is wasted. Your vote is yours, and so long as your vote is consistent with your conscience, it is impossible to waste your vote. On the other hand, even a small step toward the free market and away from … central economic planning would be at least a small improvement for every American’s freedom. A journey of a thousand miles begins with a single step.(Conservatives like Jon Huntsman, Sarah Palin have spoken favorably of third parties as well.)Liberal news commentator Lawrence O’Donnell urges us to vote for a third party candidate:
  • The liberal former chief aide to progressive Congressman Alan Grayson – Matt Stoller – agrees. Afterdemonstrating how similar Obama and Romney are on most major issues, Stoller concludes: I think it’s worth voting for a third party candidate, and I’ll explain why below. There are only five or six states that matter in this election; in the other 44 or 45, your vote on the presidential level doesn’t matter. It is as decorative as a vote for an “American Idol contestant.” So, unless you are in one of the few swing states that matters, a vote for Obama is simply an unabashed endorsement of his policies. But if you are in a swing state, then the question is, what should you do? The people themselves, what they believe and what they don’t, can constrain political leaders. And under Obama, because there is now no one making the anti-torture argument, Americans have become more tolerant of torture, drones, war and authoritarianism in general. The case against Obama is that the people themselves will be better citizens under a Romney administration, distrusting him and placing constraints on his behavior the way they won’t on Obama. As a candidate, Obama promised a whole slew of civil liberties protections, lying the whole time. Obama has successfully organized the left part of the Democratic Party into a force that had rhetorically opposed war and civil liberties violations, but now cheerleads a weakened America …. We must fight this thuggish political culture Bush popularized, and Obama solidified in place. But can a third-party candidate win? No. So what is the point of voting at all, or voting for a third-party candidate? My answer is that this election is, first and foremost, practice for crisis moments. Elections are just one small part of how social justice change can happen. The best moment for change is actually a crisis, where there is actually policy leverage. … Saying no to evil in 2012 will help us understand who is willing to say no to evil when it really matters. And when you have power during a crisis, there’s no end to the amount of good you can do. How do we drive large-scale change during moments of crisis? How do we use this election to do so? Well, voting third party or even just honestly portraying Obama’s policy architecture is a good way to identify to ourselves and each other who actually has the integrity to not cave to bullying…. We need to put ourselves into the position to be able to run the government. After all, if a political revolution came tomorrow, could those who believe in social justice and climate change actually govern? [If we had had more courage, we could have] reorganized our politics. Instead the oligarchs took control, because we weren’t willing to face them down when we needed to show courage. So now we have the worst of all worlds, an inevitably worse crisis and an even more authoritarian structure of governance. The reason to advocate for a third-party candidate is to build the civic muscles willing to say no to the establishment in a crisis moment we all know is coming. Right now, the liberal establishment is teaching its people that letting malevolent political elites do what they want is not only the right path, it is the only path. Anything other than that is dubbed an affront to common decency. Just telling the truth is considered beyond rude.
  • We can do this. And the moments to let us make the changes we need are coming. There is endless good we can do, if enough of us are willing to show the courage that exists within every human being instead of the malevolence and desire for conformity that also exists within every heart. Systems that can’t go on, don’t. The political elites, as much as they kick the can down the road, know this. The question we need to ask ourselves is, do we?Why I’m Voting for Gary JohnsonOne of the main reasons to vote for a third party candidate is that the broken two-party system willnever change unless third parties get more backing.If 5% of the American people vote for a third party candidate, that candidate will receive governmentmatching funds, which will give them a better shot at competing.Moreover, a showing of 5% or more would create buzz and start a self-fulfilling dynamic of lendingcredibility and a sense of possibility for a third party.But do any third party candidates have a chance of getting 5% of the vote?Yes … Gary Johnson.Judge Napolitano endorses Gary Johnson. Jesse Ventura endorsed Johnson.Even Ron Paul hinted that he would vote for Johnson. And in 2010, Paul said that if he didn’t run in2012, he would endorse Johnson.A bunch of other people have endorsed Johnson as well. And at least some newspapers – such as theChattanooga Free Press – have endorsed Johnson.In fact, polls show that Johnson might reach 5%. A September CNN/ORC International poll showedthat 3% of likely voters and 4% of registered voters say they’d vote for Johnson. A Reason-Rupe pollthe same month showed Johnson raking in 6% of likely voters.Those polls were taken before Ron Paul convinced his supporters that he’s out of the race, and beforehe virtually endorsed Johnson.Moreover – since the polls were taken – Johnson has gotten on the ballot in 48 states … and won theright for write-in votes for Johnson to be counted in the remaining 2.Ron Paul supporters can, of course, write in Paul on the ballot. But a write-in vote for Paul will not becounted in most states.And since he is not affiliated with any party at this point – and since even he will likely himself vote forJohnson – a vote for Paul will not help any third party. No wonder many diehard Paul fans areannouncing that they’re going with Johnson.As such, I’m voting for Gary Johnson.