WASHINGTON -- Barack Obama is getting a number of critical report cards on his foreign and domestic policies lately.
Here at home, Janet Yellen, in her first monetary policy address as the head of the Federal Reserve Board, said the labor markets were still weak, and that it will likely take two years or more before the U.S. fully recovers from its recession. Ouch.
If Yellen's forecast proves right, this means it will have taken Obama's administration nearly eight years to lift our economy out of its long and painful lethargy.
She expressed grave concern that the economy's 6.7 percent unemployment rate was still significantly above the jobless level the Fed considers normal.
While Yellen was voicing some anguish over the large number of long-term unemployed and those who can find only low-paying, part-time work, Obama was campaigning in Oakdale, Penn., dishing out job-training grants at a local community college.
Obama has been spending tens of billions of dollars on a wasteful, duplicative maze of job-training programs that do nothing to create new jobs.
That would require much stronger economic growth, but under his anti-job policies, growth has been painfully slow, less than 2 percent last year, and job creation remains anemic.
More recently, the president has turned to several of his party's threadbare fallback positions -- including raising the minimum wage to $10.10. The Congressional Budget Office slapped down his idea, saying that it would destroy at least 500,000 primarily low-wage jobs and possibly as many as 1 million.
Instead of talking about incentives to boost job-creating capital investment and business expansion, Obama and the Democrats talk only about fairness, gender equality, employer health care mandates, and making businesses and wealthier people pay "their fair share."
With his party facing its toughest election challenges in years, "and burdened with persistently high unemployment, Obama is playing the race, gender and class cards. Fabricating fear and injustice, such tactics keep the economy in slow gear and make worse the very people the president professes to help," says University of Maryland business economist Peter Morici.
The lackluster economy and his unpopular Obamacare law will be the overriding political issues in the November elections.
But Obama's failures extend across the foreign policy landscape, too. And some of the criticism is coming from the liberal news media.
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