Home » Opinion » Editorials
The Obama economy: It is dreadful
On Friday, the Labor Department reported that a dismal 88,000 jobs were created in March. That figure might be revised upward later, as previous jobs numbers have been. But there is no mistaking how bad it was. Even The New York Times offered no positive spin.
The Times reported that the unemployment rate was declining because more of the unemployed are giving up entirely. It even pointed out that "(r)elatively low-wage sectors like food services and retail have accounted for a large share of the job growth in the last few years."
The labor participation rate is 63.3 percent, the lowest it has been since 1979. The year after that was the year the nation rejected Jimmy Carter in a landslide for a President named Reagan, who offered a way out of the malaise. Yet today we accept high unemployment and snail's-pace growth in part because Reagan's party continues to be outmaneuvered by a President constitutionally incapable of governing, but born to campaign.
This is not the Bush economy. It is, as Obama said it would be by now, the Obama economy. And it is a dreadful one. Under him, it is likely to remain that way for years to come.
READER COMMENTS: 1
- No news is bad news: Hassan goes to CDC school - 4
- No right to know: Our silent superintendent - 1
- Boutin for Senate: Constituent service for District 16 - 3
- Sanborn for Senate: The obvious choice in District 9 - 2
- Secret arrests: Names contradict ICE narrative - 4
- Little for Senate: A voice for the Upper Valley - 1
- Edwards for Senate: A driven leader for Dist. 4 - 0
- Quieting Keene: Fight for your right to party - 3
- Teacher pay: Treat them like professionals - 21
READER COMMENTS: 0
- Flash mob workshop will be a 'Thriller' - 0
- Former Royals slugger and current Giants scout Balboni's heart remains with San Francisco - 0
- Sam Asano's Let's Invent: The pesky problem of financing inventions - 0
- Your Turn, NH -- Kelley Tambouris: I am a Manchester teacher, and I need more support - 0
- What rising tide? Kuster vs. Kennedy - 0
- Government thinks it's your right not to know - 0
- Two nonprofits receive a 'quick' $25,000 after pitch - 0
- Big step forward for Littleton outdoor footwear manufacturer - 0
- Paul P. Baard's Motivation Matters: Performance reviews are a motivational opportunity - 0
Keene Pumpkin Festival has uncertain future
Keene State College students clean up after mayhem, say weekend riots were not their fault
Monitoring social media
Shaheen, in Hooksett, rallies with union
After riots, soul-searching begins
On Obamacare: Shaheen doesn't get it
What rising tide? Kuster vs. Kennedy