Chris Matthews: Obama Deserves Credit For “This Amazing Economy”
When government officials say the economy is bad, liberals blame Bush. When government officials say the economy is good, liberals give Obama the credit. But this is Obama’s 2nd term. They’ve got to skew the data to make it look as good as possible and then give Obama all the credit. That’s what Chris Matthews is doing:
“[W]hen is President Obama going to get some credit—and this is like Rodney Dangerfield—when’s he going to get some credit for this amazing economy that’s coming back? It definitely is coming back, maybe not like gangbusters, but the unemployment rate really dropped again today, and there really are a quarter-million new jobs out there. It really is amazing… It seems to me when I look at the stock market breaking all records, when I look at 236,000 new jobs and I keep thinking when are the Republicans going to do what Rodney Dangerfield asked for all those years, ‘show a little respect.’ And what does this all mean? Don’t they secretly say ‘damn it, things are getting better!’ I mean what are they saying when they read this stuff?”
Well, one thing that we’re saying is that that the Bureau of Labor Statistics doesn’t include everyone who is unemployed. Howard Portnoy over at Hot Air made this observation:
“While 236,000 Americans found jobs in February, 296,000 stopped looking. Once an unemployed person has run through 99 weeks of unemployment compensation, moreover, he no longer exists in the eyes of the Labor Department’s statisticians, and is thus no longer counted as unemployed.”
A record 89.3 million Americans are no longer counted as unemployed. That includes people who have retired, but it also includes people who have simply given up looking for work. Millions of people are in this category. When millions have given up looking for employment because not many businesses are hiring anymore, that indicates that the economy is not doing well at all, and that in reality, the unemployment rate is higher.
Matthews asks when Obama is going to get the credit. I give Obama much deserved credit for this failing economy. And I understand it’s not just Obama. It’s his entire team, including the media and even many on the Republican team.
Centralized economic planning doesn’t work. Well, it works to centralize power over the economy in the hands of a dictator, but it doesn’t work to make the economy thrive. The government can’t ever be a catalyst for economic growth, because all it does is interfere in the economy by taxing and regulating businesses out of existence and granting monopolies to the big corporations which write laws benefiting themselves. Of course, that’s what liberals like Matthews call “leveling the playing field.”
I have no trouble at all giving Obama credit for this economy. But we don’t have an amazing economy unless you live in the White House or work for MSNBC. As for Americans, many are struggling to make ends meet, many are underemployed and many more have given up looking for work. Those things are natural consequences under socialism. When’s Chris Matthews going to give Obama credit for those things?