If you thought his speech on Syria was bad, wait till you hear this one
(The Hill) President Obama will speak Monday from the White House Rose Garden to mark the five-year anniversary of the financial crisis and highlight his administration’s response to it.
In other words, he’ll try and fist bump himself, and perhaps pivot to the economy for the 20th time. He’ll probably talk about all the super duper great programs and initiatives he and Democrats rammed through.
In Monday’s speech, Obama is expected to pressure Congress to take greater steps to boost the middle class amid a lingering unemployment crisis. Democrats have promoted legislation they say will address the issue – including bills to hike infrastructure spending, increase taxes on companies that outsource and raise the minimum wage – but most of those are non-starters with GOP leaders in the House.
The GOP has passed dozens of pieces of legislation regarding the economy, which are languishing without a committee hearing nor a floor vote in the Democrat controlled Senate. Obama and the Democrats want more of the same that has so far failed. The Guardian noted 10 reasons why the US economy is stuck
- wages are falling
- the middle class is losing ground and getting hollowed out
- McJobs are taking over
- capital is hammering labor
- unemployment is twice what they say
- America is going part-time – and not for fun
- workers aren’t working
- union wages are harder to come by. Much
- the cost of college is skyrocketing
- inequality is getting worse
And those are from a heavily left leaning paper. Zero Hedge offer 40 frightening facts on the economy. Interestingly, most forget to mention “Obama” as a major reason why this is the worst recession recovery since the Great Depression. It’s not just his pitiful policies which might make sense in a college bull session, but fail in the real world. It’s what he threatens. All of this “I’ll take action unilaterally” stuff, the threats to raise taxes, the threats from him and his EPA to “do something” about “carbon pollution”, etc and so on, they all create a negative business environment, an environment where confidence has gone out the window. There’s always at least a bit of uncertainty in the private sector, but they do not need government turning it up to 11.
But, it’ll be interesting to watch Obama chest thump himself Monday. Fortunately, he’ll have plenty of people sitting at home, having given up on the jobs market in despair, available to watch his speech, which will also surely be long on self congratulation and Blamestorming others.