Who is bamboozling whom?

Obama used the occasion of a speech before the Democratic National Committee today to brag about how his presidency has led to economic recovery and to ridicule Republicans for “trying to bamboozle folks.”

According to a CBS account, Obama bragged about job creation picking up, manufacturing rebounding, wages finally beginning to grow and deficits are falling. “None of this is an accident,” he boasted. “It’s because we believe in middle class economics.”

Now, who is bamboozling whom?

According to the National Association of Counties, only 2 percent of counties in the U.S. have fully recovered from the recession in terms of jobs, unemployment, economic output and home prices.

And this “recovery” has taken the longest of any since World War II:

That’s not something to brag about.

Congressman Paul Ryan said on NBC after Obama’s State of the Union speech, “The big beef I have with the president’s State of the Union … is he gave us a lot of happy talk about the economy as if it was a mission accomplished speech. It is not mission accomplished.”

While Ryan agreed economy is improving, he noted it is the slowest recovery since World War II. “Middle income wages are stagnating,” he said. “We’ve got to break out of this slog. And I do believe that there are things we can do hopefully in the next year to get this economy growing faster.”

Obama’s answer is always more regulation, more taxes, blocking development public land, threatening to veto a pipeline that would create jobs. These are the very things that have slowed the recovery.

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36 comments on “Who is bamboozling whom?

  1. nyp says:

    Gosh, could the fact that the Grat Recession of 2007-2009 was the most drastic and economically damaging economic collapse since the 1930s have something to do with the slowness of the recovery?

    How about the fact that the recession was not a garden-variety business cycle recession but was caused by a collapse in the financial sector, an economic phenomenon that historically leads to the slowest forms of recovery?

  2. nyp says:

    Lat year, under President Obama, America created private-sector jobs at the fastest pace since 1999 — i.e., since the last time we had a Democratic President.

  3. Definitely a delusional true believer…

  4. Winston Smith says:

    Gosh, could it be that the fascist/globalist banksters conspired to create the housing bubble, knowing full well that it would collapse, destroy jobs and savings, and that their klepto-republicrat minions would assist them all the way, eventually even bailing most of the banks and corporations behind it all?

  5. nyp says:

    More than 11 million private sector jobs have been created in the past 58 months.

  6. Anonymous says:

    What kind of jobs? Full time, part time, What is the average pay for those 11 million “jobs” and as my 5 year old grand daughter is fond of asking; “How do you know?”

  7. Job growth since 2008 has been 1.7 percent. Population growth has been 5.4 percent.

  8. Barbara says:

    NYP – for a discussion on comparing the collapse of 2008 to other recessions see …
    http://www.forbes.com/sites/briandomitrovic/2013/02/05/the-worst-economic-crisis-since-when/

    Obama’s policies have certainily prolonged and even added to the “great recession”. Drink the kool aide if you must. I suggest putting everything you own into the market if you truly think we are at the beginning of a recovery. I suggest it is just the opposite.

  9. Rincon says:

    Obama needs to tell the truth, but would be chided if he did. An obstructionist Congress prevented the economy from rebounding as quickly as it should have. Obama may share the blame, but winner take all politics turns the electorate into losers every time.

  10. Barbara says:

    “An obstructionist Congress” ? Obama had a majorities in both the House and Senate the first 2 years of his Presidency. He passed any legislation he wanted. Reid made sure only legislation the Dems wanted was passed. Reid gets the Smiley Face as Obstructionist-in-Chief.

    As far as Obama telling the truth, I seriously doubt he would recognize it if it bit him in the ass. “If you like your doctor, you can keep your doctor.” “Islam has been woven into the fabric of our country since its founding.” I think modern Turkey was founded with a similar set of principles.”
    “I was not aware of advance information suggesting an attack on our embassy in Benghazi because I’m in the middle of prepping for a record-setting free fall from the stratosphere.” “We got back Every Dime we Used to Rescue the Banks with Interest”

    Why is it that statists only think conservatives are obstructionists? The terrible obstructionist Republicans have went along with Dems to raise the debt ceiling every single time, fund Obamacare, fund amnesty, fund every pork laden bill, …on and on and on.

  11. nyp says:

    Let’s deal with your various misrepresentations in order of real world importance.
    1. You are correct that the President was not being truthful when he said that we recovered every dime we expended in saving the American financial industry, plus interest. In reality, not only did we recover every dime plus interest, but We the People earned an additional healthy profit. As of February 11, 2015, our total profit from both the TARP and Fannie/Freddie bailouts was $53.1 billion.
    http://tinyurl.com/bawkppo

    Not too shabby!

    (Of course, the purpose of the program was not to make a profit, but to prevent the financial system from collapsing, which is what would have happened if you guys had had your way.)
    2. Muslims have indeed been woven into the fabric of America since the very beginning.
    3. Modern Turkey was indeed founded as a secular republic, just like the United States.

    I do, however, think it hilarious that you used Clickhole as the source of your Benghazi allegation.
    http://tinyurl.com/ppardly

    Well played!

  12. nyp says:

    BTW, Mr. Mitchell: in President Obama’s first six years in office the US added more five times more jobs than it did during the full eight years of his Republican predecessor.

    Socialism!

  13. Winston Smith says:

    Oh, DARPA, your standard disingenuousness is showing again. We lost a shitload of jobs when the (planned) recession hit, and the idea that more jobs (many of lessor value) have been added in six years is not a surprise, it was expected, even though Bernanke predicted a “jobless recovery” in 2009. Bush was president during three major downturns, the dotcom bubble, 9/11 and the housing bubble. This all depends on Bureau of Labor Statistics not manipulating data, as NASA has with AGW.

    Of course, Constitutionally speaking, the Executive Branch should have very little to do with the nation’s economy. It’s simply not in the job description, so U.S. Presidents taking credit or blame for labor numbers is screwed up anyway.

    If anything, our economic cycles pretty much come from the actions of the unconstitutional federal reserve, which is neither federal nor a reserve. But that’s another (shameful) story.

    BTW, how many Muslims participated in the colonization of the Britain’s American colonies, how many fought for independence, and how many held any positions of power in our nation the first two hundred years? I guess it just depends on how you define “woven”. Maybe I’ll check Black’s Law Dictionary.

    While I’m there, I’ll look up the definition of “is” also…

  14. Steve says:

    A real second amendment event from three days ago…wonder why Nyp failed to report it….

  15. Barbara says:

    Well, NYP, so glad that you can recognize a falsehood when you see it. I was beginning to wonder. I figured being from Las Vegas you would certainly know that our dear leader had not jumped off the Stratosphere. Liberals will sprinkle their arguments with kernals of truth in order to make a falsehood appear true. The other statements are in fact true.

    I suppose you could say that the Barbary Pirates were “woven” into our histroy, but not even you could stretch this to fit the meaning Obama tried to protray. And I would disagree that America was founded as a “secular” nation – secular meaning “not pertaining to or connected with religion.” Our founding was always connected to religion from the Pilgrims to the Puritains. The Founding Fathers did not want the national government to control religion, but the states were free to do as they pleased. For several years after the founding, many States had as part of their constitution that only Protestants could hold office. Even into the late 1900s some states had “blue” laws prohibiting the sale of certain items on Sunday because of religious beliefs. I think a case could even be made that laws prohibiting gambling have a religious basis.

    As far as Turkey you are correct in that it’s founding was as a secular nation, but it had a Parliamentary form of government with an elected President.

  16. Rincon says:

    “An obstructionist Congress” ? Obama had a majorities in both the House and Senate the first 2 years of his Presidency. He passed any legislation he wanted” Perhaps your memory needs a little help. FAR more filibusters were performed by Republicans each year since 2007 than any other years in history. That’s obstructionist, don’t you think?

    Even though Obama shouldn’t get too much credit or blame, how well we’re doing depends on your measuring stick. The U.S. economy has recovered much faster and further than almost any other OECD country. So is the slow recovery a gauge of a poor response or the depth of the hole we had dug?

  17. We dug? I think a few Republicans warned about those subprime mortgages pushed by Democrats that were the root of the decline.

  18. Nyp says:

    No, they did not.

  19. OK.

    “While Democrats spearheaded this crusade, Republicans joined in as well,” Thomas Sowell says.

    http://townhall.com/columnists/thomassowell/2009/04/29/the_housing_boom_and_bust/page/full

  20. nyp says:

    Sowell’s essay, such as it is, is not about subprime lending, but about the Community Reinvestment Act, which was enacted in the 1970s, and which had nothing to do with the financial collapse of 2007-2009. Democrats did not “push” poorly regulated subprime mortgages, and Republicans did not warn agailnst them.

  21. Barbara says:

    Okay I get it now NYP. You sometimes can recognize lies, but it’s the truth you have a problem comprehending. Barney Frank and Chris Dodd would probably both be in jail had they been operating in private business instead of the government.

  22. nyp says:

    That’s lovely, but Fannie Mae and Freddie Mac were not making subprime loans in 2004. Once again, your facts do not support your argument.

  23. nyp says:

    And, by the way, what was it that Barney Frank did that supposedly should have landed him in jail?

  24. nyp says:

    The article you cite accuses Barney Frank of a variety of things, including this particular gem: “Far from upholding the gay stereotype of being meticulously dressed, Frank always looked like he’d slept in his suit.”

    But which of the items in the article do you believe constituted criminal offenses? Or, instead, were you simply being extraordinarily reckless in your language?

  25. Steve says:

    Barney Frank was endorsed for the 4th congressional district seat by a Jesuit Priest.

    Does that maker any difference to Nyp?

  26. Steve says:

    Huh.
    Didn’t know that?

  27. Steve says:

    Does anyone remember “the economy, stupid” ??

  28. Rincon says:

    Fish in a barrel. From the GW Bush White House: “Today, President Bush signed into law the American Dream Downpayment Act of 2003, which will help approximately 40,000 families a year with their down payment and closing costs, and further strengthen America’s housing market. This legislation complements the President’s aggressive housing agenda announced in 2002 to dismantle the barriers to homeownership. Today, the Department of Housing and Urban Development (HUD) and the Census Bureau released data showing that new home construction in November reached its highest level in nearly 20 years.” http://www.presidency.ucsb.edu/ws/?pid=80041

    This bill was passed by a Republican Congress. I’m sure I can find more, but this is a nice start. This item makes it appear that the Republicans threw gasoline on a fire without any help from Democrats. Seems that both Democrats and Republicans were complicit in the housing disaster.

  29. Winston Smith says:

    Rincon, you mean to tell me both the Repubicrats and Democrans screwed up?! I’m shocked…shocked…

  30. Rincon says:

    You and I agree on this one, Winston. Same animal, different masters.

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