Friday, July 8, 2011

Obama Adviser Says Jobs Wont Be Key in 2012

It is all about the jobs, stupid! If Obama's advisor say unemployment will not be the central issue in 2012, there are many other problems that could eclipse unemployment. The central theme in 2012 could be the falling dollar, national security, TSA abuse, failure in Afghanistan, spending, Social Security, Medicare, housing, taxes, and Obamacare. Obama is doomed in 2012.

(The Hill) President Obama’s senior political adviser David Plouffe said Wednesday that people won’t vote in 2012 based on the unemployment rate.

Plouffe should probably hope that’s the case, since dismal job figures aren’t expected to get any better for Obama and the economy on Friday.

[UPDATED: The jobs report released on Friday showed the economy added only 18,000 jobs, much less than anticipated. The unemployment rate creeped up to 9.2 percent.]

It’s looking more and more like Obama will have to do something no president has done since Franklin Roosevelt: Win reelection with unemployment around 8 percent.

Ronald Reagan, another president Obama is sometimes compared with, was reelected in 1984 when unemployment was 7.2 percent. Obama isn’t likely to see a number that low.

The economy would have to add 350,000 jobs every month between now and December 2014 to get back to the pre-recession low of 5 percent unemployment, last seen in December 2007, according to the Economic Policy Institute (EPI).