WASHINGTON - President Obama's belief that "the private sector is doing fine" ranks as the most uninformed statement on the struggling American economy to date.
His patently false remark Friday at a White House news conference was compounded by his flat out assertion that the people who have really been hurt are those who work in "state and local government."
It shows the president is disconnected from the bleak, everyday, economic realities that still afflict our country, its businesses and its people. It shows he doesn't possess even a minimal understanding of the statistical makeup of the nation's workforce.
Tens of millions of workers can't find full-time jobs and millions have stopped looking. The numbers of jobs being created plummeted last month to a pathetic 69,000. The economy is growing at less than 2 percent, economists say we are on the brink of another recession, and Obama declares "the private sector is doing fine"? What planet is he living on?
Not only does it betray Obama's fundamental ignorance of the size and weak performance of the private sector, but it shows how ideologically biased he is toward government sector employment versus the private sector.
I mean, this is a guy who came into office brandishing a harsh hostility toward Wall Street, banks, corporations and businesses in general. One of his first proposals was to raise income tax rates that would wallop small businesses when they were flat on their back, fighting for their survival and forced to lay off their employes.
Obama's got it backwards. Public sector workers are doing much better than those in the private sector. "Since the beginning of 2008, the private sector has lost about 4.6 million jobs. During the same time, the public sector... has lost just 407,000 jobs," writes U.S.
News' economics reporter Rick Newman.
"The private sector employs more than five times as many workers as the public sector does, so it ought to be the main focus for anybody aiming to fix the economy," he says. Not with president.
On the contrary, private sector blue collar workers are the ones who are the hardest hit. Construction workers have lost two million jobs and U.S. manufacturing has dropped 1.8 million or 13 percent. The president focuses on firemen, police and teachers, "but the people hurting the most are roofers, builders and assembly-line workers,"
Newman points out.
Let's take a closer look at the private sector-dominated economy that Obama says "is doing fine."