Friday, June 8, 2012

Obama, Private Sector Jobs is Doing Just Fine. HUH?

Obama has lost touch how to run this country. I have no idea what program he is watching. The economy still sucks!

(WSJ) It was just six words from a 29-minute news conference, but President Barack Obama's assertion that "the private sector is doing fine" looks primed to play a starring role in this already-fevered campaign season.

Mr. Obama turned at one point to the U.S. He said Republicans needed to join him to help state and local governments that have continued to pare jobs while private-sector employment expands.

"The truth of the matter is that … we've created 4.3 million jobs over the last 27 months, over 800,000 just this year alone," he said in response to a question. "The private sector is doing fine. Where we're seeing weaknesses in our economy have to do with state and local government," which, he said, isn't getting the support it needs from Washington.

Mr. Obama sought to clarify the remarks later in the day, saying "it is absolutely clear that the economy is not doing fine." He nonetheless again noted the rebound in private-sector job growth and corporate profits to contend that the private sector has "not been the biggest drag on the economy."

Either way, in an election year likely to be defined by voters' perceptions of the economy, the damage was done.

In the May Wall Street Journal/NBC News poll, conducted before the latest disappointing jobs data, more than half polled said they disapproved of the president's handling of the economy. A third of Americans said the country is on the right track.