Mike Whitney - The short and uninspiring "one term" career of Barack Obama
June 6, 2012 Be sure to jot-down June 1, 2012 on your calender. That's the day that Barack Obama's reelection chances went up in smoke. Friday's report from the Labor Department showed the US economy added just 69,000 jobs in May which pushed the unemployment rate back up to 8.2 percent, the first rise since June 2011. Unfortunately for Obama, there's not much he can do to turn things around before the November balloting. GOP deficit hawks are dead-set against more stimulus, so he won't be getting any money from congress. He'll just have to muddle-through as best as he can hoping that the economy picks up in the meantime. But the slowdown in China and the deteriorating debt crisis in the eurozone make that unlikely, which means that Obama's approval ratings will continue to slide until election-time, when high unemployment and flagging growth put corporate raider, Mitt Romney, in the winner's circle.
Let's face it, Obama hasn't lifted a finger to help the economy since he passed his $800 billion fiscal stimulus bill in 2009. For the last 3 years we've heard nothing but endless blabber about the phantom "recovery" and "green shoots". Blah, blah, blah. It's sickening! Meanwhile 20 million people waste their time in unemployment lines or shredding beef at Arby's for $7.50 an hour. What has Obama done to help them?
Nothing. Nada. Zippo.
Have you been following the news since the job's report came out? Obama's trying to pass the blame off on Congress. Here's what he said on Friday:
"My message to Congress is now is not time to play politics. Now is not the time to sit on your hands."
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