What went wrong in Obama-conomy? Too much, even the NYT saw it (update)



First, they promised jobless numbers well below 8 percent. Then, 400,000 job per month. Then, shovel-ready jobs in the spirit of FDR's CCC. Those jobs were not "so shovel ready," admitted the president. And within all of it, Obama and his folks blamed Bush.
This isn't even leading from behind. This is more like a coach boasting about his successes as a leader and blaming the failures of everyone from other coaches, school administration and game officials, from the sidelines. On Business Insider, this:
"The whole problem can probably be summed up in the infamous chart [image above] made by economic advisor Christina Romer, showing what she projected the unemployment rate would do if the stimulus were enacted vs. what it would have done if it had never been enacted. As you can see, it was way too optimistic, given that unemployment is still over 8 percent."
Update, Oct 2013 (originally published Oct 2012): The quote, above, was from an October 2012 article. The sour economy didn't ruin Obama's reelection bid, however obvious it is that his vows were mere overconfident bluster from an elected leader with far more arrogance about his own knowledge about everything under the sun than actual understanding of economics and job creation. He may have won the election, but he's still losing the economic battle, and a year later, he still refuses to accept his economic and business shortcomings.

Read the Business Insider article: http://www.businessinsider.com/david-leonhardt-on-obamanomics-2012-9#ixzz283o...

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