President Obama drew fierce criticism when he told a press conference that, “the private economy is doing fine,” but his defenders insist that his words should be taken in context. In the very next sentence, the president said: “Where we’re seeing weaknesses in our economy have to do with state and local government—oftentimes, cuts initiated by governors or mayors who are not getting the kind of help they have in the past from the federal government…”
In other words, the president insists that the private sector prospers, even while government stumbles and struggles. But which part of the economy does Barack Obama influence most decisively? Even if he’s right about “the private economy doing fine,” he can hardly claim credit for that success, any more than he can escape blame for a sorry record of governmental failures.