June 19, 2012

IT IS THE ECONOMIC CONDITIONS OF THE SPRING THAT DOOM HIM...:

The Obama Campaign Needs an Intervention (Albert R. Hunt, Jun 17, 2012, Bloomberg)

"The challenge for the president is not the current conditions, but the huge expectations he set that have not been met," said Hart, a leading Democratic pollster. "There is no road map, no program, no conviction of where the president wants to lead the country."

Too often, it's felt that Obama is playing political small ball or tactical games. Party critics note the fumbled response to the president's much-criticized statement earlier this month that the "private sector is doing fine."

When the president assembled the press, he really had nothing much to say about the European crisis or the domestic economy, so the slip dominated the story. After he later backtracked, the White House and campaign prolonged the story by insisting those remarks were being taken out of context by Romney and the press.

Not so. Go to the White House website and check the June 8 transcript.

All politicians make misstatements. And there was a plausible follow: corporate profits are soaring, the largest companies in the Standard & Poor's 100 Index (SPXL1) have increased earnings for 11 consecutive quarters and are now more profitable than ever, while demand for U.S. government securities reached a record last year. Corporate chief executive officers are as well compensated as ever, and the most recent figures show that the inflation-adjusted incomes of the 1 percent of wealthiest Americans rose by an average of $105,637 in one year.

The problem, the president could have declared, while citing these numbers, is that the middle class and small business have been left behind. Saying so would have afforded an opportunity for Obama to contrast his views on what to do with Romney's emphasis on the more affluent.

,,,but the notion that you can argue in favor of both record profits and increased hiring is even more divorced from reality.

Posted by at June 19, 2012 5:18 AM
  

blog comments powered by Disqus
« AGAINST CIVIC COURAGE: | Main | THEY ARE THE 1%: »