The Obama economy goes into contraction in the 4th quarter of 2012. President Obama issued an official statement: It’s not my fault! Really? Isn’t that what children always say?
If this “blame tech” mantra sounds mildly familiar, it’s because Obama himself has on a few unguarded occasions commented on how technology has destroyed jobs, indicting ATMs, airport kiosks, and the Internet for sending bank tellers, airline reservation agents, and others to the unemployment line. Apparently, never to return except perhaps as burger flippers or cashiers. I fear that the AP’s decision to identify tech as the scapegoat is no mere coincidence, and may foreshadow foolish attempts by the administration to slow down technological progress in the name of “saving jobs.”
Obamacare is already slated to do that very thing to the entire healthcare sector.
With all due respect to Professor Williams above, he would be right about enough replacement jobs being created if we were living in a genuine free-market economy. Unfortunately, that’s not where we are in this nation. Virtually all of the reasons why sufficient job growth isn’t occurring can be traced to the Obama administration’s market-hostile economic policies and postures.
Here are ten of the most obvious out of a list which could easily reach several dozen:
What the AP series really tells us is that the economy wasn’t performing as well as the government and the establishment press claimed it was during the presidential campaign — something I believe this week’s report on fourth-quarter gross domestic product will confirm — and that the White House really doesn’t expect the malaise to lift during most of Obama’s second term.
And don’t miss these article on the state of the Obonomy:
And for those who buy the administration and media-Matrix ridiculous excuses, there’s this: