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.