POLITICS

Morning Examiner: President Obama’s imaginary recovery

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Politics,Beltway Confidential,Conn Carroll

It is not easy being the deputy campaign manager for a president seeking reelection with an economic record as terrible as President Obama’s. So really, Stephanie Cutter should be forgiven for the alternative reality she has created in order to defend her boss. Asked yesterday by MSNBC’s Willie Geist what she would tell someone who said about Obama, “Well, that hasn’t worked for four years, it’s time for a change,” Cutter responded:

Well, I think that worker probably has a good understanding of what’s happened over the past four years in terms of the president coming in and seeing 800,000 jobs lost on the day that the president was being sworn in, and seeing the president moving pretty quickly to stem the losses, to turn the economy around, and over the past, you know, 27 months we’ve created 4.5 million private sector jobs. That’s more jobs than in the Bush recovery, than in the Reagan recovery.

Oh Stephanie, you do tell such wonderful lies.

When President Reagan was sworn into office, there were 74.6 million private sector jobs in the U.S. economy. At the nadir of that recession, employment fell to just 72.7 million jobs. By August 1984 the economy supported 78.8 million private sector jobs. So from the depths of the recession, to an identical place in Reagan’s term, the Reagan recovery created 6.1 million jobs. Alternatively, from inauguration to August ’84, the Reagan recovery had created 4.2 million private sector jobs.

When Obama was sworn into office, there were 111 million private sector jobs. At the bottom of this recession, private employment fell to 106.7 million. Today, the U.S. economy supports 111.3 million jobs. So, from bottom to top, the Reagan recovery created 6.1 million private sector jobs while the Obama recovery has only created 4.5 million jobs. And from inauguration to August of reelection, Reagan created 4.2 million private sector jobs to Obama’s 312,000.

The total jobs numbers are even worse for Obama. When he was sworn into office, the U.S. economy supported 133.5 million jobs overall. Today, it only supports 133.2 million. That’s right: Obama is still a net job destroyer. You can see why Cutter has to make things up.

Campaigning in Roanoke, Virginia, yesterday, Paul Ryan said, “Obama said last summer was going to be the summer of recovery. It’s a summer later and it’s still worse. He said that the private sector is doing just fine, we need more government. This is President Obama’s imaginary recovery. It’s not here.”

Apparently Cutter’s delusions come from the top.

Campaign 2012
Polls: A new Las Vegas Review-Journal poll shows Obama leading by just one (47/46) in Nevada and new Marquette Law School poll shows Obama up just three (49/47) in Wisconsin. And a new New York Times/CBS News/Quinnipiac poll has Obama three in Florida, six in Ohio, and three in Wisconsin.

Romney: A new Washington Post-ABC News poll shows that seniors love Paul Ryan: 50 percent have a favorable view of him while only 35 percent view him unfavorably. Fully one-third of seniors say they have a strongly favorable view of the Wisconsin congressman, while one-quarter have a strongly unfavorable view.

Republican National Convention: Tampa Mayor Bob Buckhorn told CNN yesterday that he is prepared to cancel the Republican convention if tropical storm Isaac which might hit Tampa next week, becomes a threat to public safety.

In Other News
The Washington Post
, Recession imminent if ‘fiscal cliff’ of tax hikes, budget cuts not averted, CBO says: The U.S. economy will hurtle into a recession if Congress fails to avert a series of tax increases and budget cuts due in January, the Congressional Budget Office said Wednesday, warning that a fiscal impasse would have consequences even more dire than previously forecast.

The Wall Street Journal, Fed Moving Closer to Action: Minutes released Wednesday from the Federal Reserve’s July 31-Aug. 1 policy meeting suggested that a new round of bond buying, known as quantitative easing, was high on its list of options.

The New York Times, Ties to Obama Aided in Access for Big Utility: A New York Times review of Exelon Corporation’s relationship with the Obama administration shows how familiarity has helped foster access at the upper reaches of government and how, in some cases, the outcome has been favorable for Exelon.

Sacramento Bee, California poised to grant driver’s licenses to young illegal immigrants: California is on the verge of allowing hundreds of thousands of undocumented immigrants to receive driver’s licenses for the first time in nearly two decades.

The Wall Street Journal, U.S. Plans New Asia Missile Defenses: The U.S. is planning a major expansion of missile defenses in Asia, a move American officials say is designed to contain threats from North Korea, but one that could also be used to counter China’s military.

Righty Playbook
The Weekly Standard‘s John McCormack calls out Democrats for falsely claiming Paul Ryan tried to redefine rape.

National Review‘s Ramesh Ponnuru notes that abortion policy does not explain the GOP-Dem gender gap.

Power Line‘s John Hinderaker asks, “Are the Democrats delusional on abortion?”

Lefty Playbook
Mother Jones‘ Kate Sheppard claims that Paul Ryan “co-sponsored all the most extreme anti-abortion bills.”

The New York Times‘ Andrew Rosenthal urges Americans to “ask your local G.O.P. candidate about ‘legitimate’ rape.”

The Washington Monthly‘s Ed Kilgore argues that by cutting welfare it is Romney and Ryan who are gutting welfare reform.

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