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: 4
- Bad Joe: Levasseur stalls again - 2
- Good Joe: Kenney for Executive Council - 1
- Insurance exchange: NH Dems, GOP switch sides - 2
- Bottle store blues: The useless grocery mandate - 2
- Finding city revenue: Seek more private partners - 0
- Putin's freedom: Obama's weakness - 42
- Safe seats, frequent flyers - 0
- Sports volunteers: Eric Mommsen embodies the spirit - 0
- Issa drops in: Doesn't match media slant - 1
READER COMMENTS: 0
- Firefighters battle blaze at Pittsfield pizza plant - 0
- Allen Lessels' UNH Notebook: Wildcats, Hogan not finished yet - 0
- Little Green has quartet of contenders for New England wrestling championships - 0
- Roger Brown's High School Basketball: Madness has arrived - 0
- Monarchs: Let's play three - 0
- Another View -- Diana Lacey: Union Leader editorial got gas tax hearing all wrong - 2
- Obamacare's new trick: Only temporary relief - 7
- Cannon Mountain skiers head to Paralympics - 0
- John Stossel: Budget baloney - 0
Fremont's Miss 1964 to pass on her crown
Obamacare's new trick: Only temporary relief
Bad Joe: Levasseur stalls again
House says no to bill to reduce NH meals tax