Home » Opinion » Editorials
Summer of Stasis: Stuck in an economic rut
The White House called the summer of 2010 the “Summer of Recovery.” This year we have the Summer of Stasis. If this kind of economic growth is what the President means by “forward” (his new campaign slogan, cribbed from MSNBC), it is no wonder he didn’t make the varsity basketball team in high school.
The official Summer of Recovery campaign was launched in June of 2010. The unemployment rate was 9.4 percent. By August it was 9.6 percent. By November it was 9.8 percent. It remained at 9 percent or above for nine of the next 10 months.
By this January the painfully slow recovery had worked the unemployment rate down to 8.3 percent, and it has hovered between 8.1 and 8.3 percent since. For the past two months it has been stuck at 8.2 percent. (Hey, at least he’s consistent.)
It is an odd time for the President to use “forward” as a slogan. The economy is stuck in neutral, and instead of offering new ideas to get things moving again, he is offering exactly the same policies that have kept us motionless.
The last time the unemployment rate was below 8 percent was 42 months ago — the month Barack Obama moved into the Oval Office. As Mitt Romney said in Wolfeboro on Friday, a President cannot control everything, and so a few jobs reports provide insufficient information for judging a President’s policies. But 41 months’ worth unemployment higher than 8 percent — starting with a President’s first full month in office — indicate that the President’s policies are hindering rather than helping the economy.
READER COMMENTS: 0
- Disengaged: Obama's lousy excuse - 14
- Underestimating NH: Gun control picks two wrong targets - 22
- Roaming jihadis: A terrorist visits Manchester - 3
- Athletes and PE: Give them credit for sports - 7
- The EPA's friend: It has a loyal ally in Shea-Porter - 16
- Leading vs. following: Ayotte, Shaheen and the polls - 24
- The cupcake police: Stop! In the name of lard! - 15
- Page One Editorial: Obama is right - 27
- Taxed tips: Another NH revenue grab - 9
READER COMMENTS: 1
- Updated: Man fatally shot on Manchester street; neighbors shocked - 3
- Nashua mayor to recommend Bennett for corporation counsel - 0
- Claremont group disputes incinerator plant's permit - 0
- Goffstown artisan gives new face to Wolfeboro tower - 0
- Katie McQuaid's Scene in Manchester: Kiwanis and the kids - 0
- Town may have to fix grave error - 0
- Gate City Musings: Mayor just keeps on spending - 0
- Nashua set to begin budget review - 0
- Manchester 'homeless meter' program seeks to deter panhandling - 0
Volunteer drivers needed in Windham
UNH hires firm to redesign one of its logos
Disengaged: Obama's lousy excuse
Chechen decries Boston attack
43 killers on lifetime parole - but where?