President Obama can’t resist the forces of gravity. “Hope is not a strategy” as Romney said in his foreign policy speech. He could have also applied that statement to domestic policy. Failing to be accountable for results or the lack of them is not leadership. Even liberal social objectives are frustrated by economic malaise. According to the Financial Forecast Center, the following is what we have to look forward to in the future if there is no change in direction by March 2013.
Unemployment rate: back up to 8.9%
GDP Growth rate: down to 1.0%
Jobs growth: <50,000> net reduction in jobs for March 2013 alone.
Business sector income: Down by .3%
Personal income: Down by another $40 billion after the middle class has already seen a $4000 per family annual reduction in income during the last 3.5 years all why the debt we must all pay back has skyrocketed by $6 trillion.
Even now job growth has slowed from an average of 240,000 jobs/month to 97,000 jobs/month over the last six months. Forbes puts the risk of a double dip recession early next year at between 20-25% if Congress fails to break its current deadlock.
We have the lowest labor participation rate in 32 years. If the same number of people were still looking for jobs today who were looking in 2008, the unemployment rate would be at 11.5% today.
Can even liberals afford four more years of this administration? Can the middle class? Can the 16 million new people now collecting food stamps since 2008? Can the families whose gas prices have doubled and whose incomes are down since 2008? Can those people who will be paying higher and higher health insurance premiums? Obama may someday be successful in re-distributing the pie, but there may not be much pie left to pass around.
Seventy million people saw the same thing I did. There’s simply no way anyone could watch this performance and actually believe that the man who showed up in Denver could possibly hold his own against Vladimir Putin. Or the Chinese. Or the North Koreans. Or the Iranians.
I mean, my God. He was crushed by MITT ROMNEY! And, as a bonus, Romney hung in there all alone against the world’s most powerful human, in front of the same 70 million people and a very hostile press corps, and performed brilliantly under extreme pressure. Obama imploded.
So, I’m guessing Obama’s support will shortly collapse to the level of his very hard-core support. And stay there through Election Day. There’s no rabbit to pull out of any hat that might fix things. There’s no hat either.
Of course you can never rule out an Obama October surprise can we now?