Home » Opinion » Editorials
The Obama economy: It is dreadful
On Friday, the Labor Department reported that a dismal 88,000 jobs were created in March. That figure might be revised upward later, as previous jobs numbers have been. But there is no mistaking how bad it was. Even The New York Times offered no positive spin.
The Times reported that the unemployment rate was declining because more of the unemployed are giving up entirely. It even pointed out that "(r)elatively low-wage sectors like food services and retail have accounted for a large share of the job growth in the last few years."
The labor participation rate is 63.3 percent, the lowest it has been since 1979. The year after that was the year the nation rejected Jimmy Carter in a landslide for a President named Reagan, who offered a way out of the malaise. Yet today we accept high unemployment and snail's-pace growth in part because Reagan's party continues to be outmaneuvered by a President constitutionally incapable of governing, but born to campaign.
This is not the Bush economy. It is, as Obama said it would be by now, the Obama economy. And it is a dreadful one. Under him, it is likely to remain that way for years to come.
READER COMMENTS: 0
- New NHIA president painting a picture of expansion - 0
- Sources say former White House Chief of Staff Andy Card to be tapped as Franklin Pierce president - 0
- Students prepare to set sail at Tri-City Christian Academy - 0
- Local teacher makes trip to arctic - 0
- Teacher 'thrilled' at being reinstated - 7
- Scholar of the Month: Plymouth junior operates on 'full-sprint theory' - 0
- Software upgrade delays grades - 0
- Derry School Board to hold forum on Facility Needs Study - 0
- Londonderry High forms team to get help for teens struggling with depression - 0
READER COMMENTS: 0
- Dave D'Onofrio's Patriots Notebook: It took a while, but now they're on Wright track - 0
- Newmarket blacksmith has forged a career shaping the elementsof steel - 0
- Kathy Sullivan: We need to rethink some of our county government positions - 0
- Pipes and plans: A chance to show up Mass. - 0
- H.S. Football Power Poll: No doubt - Astros finish on top - 0
- College Hockey: Wildcats home to RPI on Tuesday night - 0
- Manchester school board OK's contract for driver’s ed program - 0
- Unrest erupts after grand jury decides against charges in Ferguson, Mo., shooting - 1
- Malkin, Crosby foil Bruins in overtime - 0
Clinton has 'historic' lead in poll
Sources say former White House Chief of Staff Andy Card to be tapped as Franklin Pierce president
Randy Johnson, Pedro, Smoltz lead HOF ballot
Tough task for NH budget writers
Pipes and plans: A chance to show up Mass.
Teacher 'thrilled' at being reinstated
Paul, Christie share lead in primary poll
NH senators react to Hagel resignation