It's Jobs, Jobs, Jobs

Posted: May 23, 2011 12:01 AM

Everything you need to know about the 2012 election may be wrapped up in one four letter word – jobs.

Faced with economic recession, Barack Obama and the Democrat leadership implemented unprecedented Keynesian big spending policies that they promised would jolt the economy back to life and "save or create" at least 3.5 million of jobs. 

Instead, the national debt has increased by more than $5 trillion and the 7 million fewer Americans have a job than when the recession started in December 2007.   Worse, the jobs recovery is "by far the worst" of any recession dating back to the 1930s, according to USA Today

If this were just an average recovery, "nearly  10 million more people would be working today than when the recession officially ended in June 2009," according to the feature story published last week.

As the chart above indicates, Obamanomics has not just fallen short; the failure is of historic proportions. 

In addition to the millions that remain out of work or underemployed, gas prices have more than doubled since Obama took office, health care premiums are expected to rise 8.5% next year, consumer prices led by food are rising at 5.7% annually.     

Bill Clinton was right about at least one thing; national election outcomes are typically driven by the economy and particularly those kitchen table issues. If that holds true in 2012, Barack Obama will be also be out of work.  The voters are not likely to reward failure with re-election.  

Media, Muslims Sabotaged GOP in Colorado in 2010: John Ransom
When Insider Greed is Good: Zacks Investment Research
Gimme, Gimme, Gimme Shouts the "Better Way" Mob: Mike Shedlock
It's Jobs, Jobs, Jobs: Bob Beauprez
This Week's Top Tweet: Mr President, DO Something: John Ransom
Oil Prices, Inventories Down, plus Railroads a Comin': Zacks Investment Research
Spanish and Greek Tea Parties: Mike Shedlock
SuckedIn or LinkedIn? - Investing for Idiots: Gil Morales and Chris Kacher
The Hitchhicker's Guide To Money: Mark Baisley

For daily market commentary visit Ransom and Friends at the Ticker  

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