President Obama brags about the success of his efforts on the economy
President Obama is finally confident in taking credit for a recovering economy. Yesterday he was almost in a quasi-bragging mood in his news conference where he dinged an intransigent Republican Congress.
“I think it is useful for me to end by reminding folks that during my first term,” President Obama said. “If I had press conferences like this typically everybody wanted to ask about the economy. And how comes jobs weren’t being created. How comes the housing market is still bad. Why isn’t it working? Well you know what? ‘What we did worked. And the economy is better. When I say that we’ve just had six months of more than 200,000 jobs that hasn’t happened in 17 years that shows you the power of persistence. It shows you that if you stay at it, eventually you make some progress.”
The President should be bragging though his nature is hardly that. After and aberration in the first quarter of the year, the economy grew at a robust 4% in the second quarter. People filing for unemployment fell to the lowest in 8 years. Consumer confidence is up higher than at any time since 2007.
209,000 net jobs were created in July and unemployment is at 6.2%. It makes the sixth consecutive month of more than 200,000 jobs. This is the first time this has occurred in 17 years.
It is time for the President to start touting the economy. The fuel for this growth started with the stimulus which the vast majority of Republicans opposed. It continued by holding back the fiercest forms of austerity proposed by Republicans that decimated many European economies.
Obamacare will release a flood of entrepreneurs as employees are no longer shackled to the employers’ affordable healthcare, healthcare insurance comparable with or without an employer plan.Times are in fact better. Times will get better than before if we continue to force politicians to be our servants and not our masters.