‘Obama’ is how you
spell relief
By Wesley Pruden
PrudenPolitics.com
Conservatives are fractured, split and mad at each
other, brawling like Democrats. There’s only one man
who can unify the movement. Fortunately for the
Grumpy Old Party, Barack Obama is available, ready
and eager.
By mid-March, we’ll have muddled through most of the
primaries and caucuses (cauci?), and by then the
Republicans will know who their nominee will be,
even if he won’t be crowned until the party meets in
convention assembled in Tampa in late August.
Soon the cannibalism will abate, and the fun begins.
The venom will be aimed at the president, who will
fire back with toxins of his own. The camps of the
candidates, each heavily armed, will be evenly
matched.
“It’s the economy, stupid,” but even Stupid can see
the economy against a backdrop of presidential
incompetence at home and timidity abroad. Over the
weekend, Newt Gingrich continued to pound Mitt
Romney, to “slow him down” so he could “expose” him
(though not necessarily by stealing his pants). Ken
Starr, the Watergate prosecutor, scolded anyone who
won’t vote for a Mormon just because he’s a Mormon,
and pointedly said he wasn’t endorsing Mr. Romney.
He must have been talking about Jon Huntsman, who
scolded his fellow Mormon for injecting
“partisanship” into the campaign. Horrors!
Partisanship in an election campaign? Who would have
thought it? Ron Paul was chased out of Moe Joe’s
Diner in New Hampshire by scrambling reporters
intent on doing harm. Dan Rather (remember him?)
says Barack Obama would lose the election if it were
held today. The silly season is hard upon us, and
it’s only January.
But soon we’ll have to take ourselves seriously, and
the economy will still be job one. The government’s
numbers continue the dreary downward trend Mr. Obama
introduced soon after his inauguration three years
ago, and the weight of his fantasies keeps the
economy mired in a mud of low expectations.
The latest numbers revealed 200,000 new jobs for
Americans last month, and the jobless rate, which
was bumping 10 percent only a few months ago,
dropped for the second month in a row. Any good news
is better than bad news, but the news hidden in the
government’s numbers for December was bad indeed.
The unemployment number is the least reliable
indicator of the health of the economy.
Over the past 30 months, the number of available
workers has declined by more than 840,000—dropping
by 170,000 in just the past two months. The number
of Americans employed or looking for work—what the
economists call “the labor force participation
rate”—has fallen to 64 percent of the population.
Adjusted for this unusually unhappy rate, the
unemployment figure is more than 11 percent. No good
news here.
There’s even worse news in the small print, which is
why the remorseless stock-market indicators declined
when the numbers came out on Friday. The Bureau of
Labor Statistics calculates a “real unemployment
rate,” which includes workers with part-time often
ragtag jobs, and the workers who have simply given
up the job search, at 15.2 percent. This is not bad
news, but catastrophic news, not just for the
discouraged and underemployed but lethal for an
incumbent president organizing his re-election
campaign.
The skeptical Wall Street reaction to the news
recalls Ronald Reagan’s famous definition of a
struggling economy: “A recession is when your
neighbor loses his job. A depression is when you
lose yours. A recovery is when Jimmy Carter loses
his.” Update that and you can see the rock and the
hard place squeezing Barack Obama.
This is the killer issue the Republicans must
exploit to win when they finally find their man.
There’s no sign of a happy warrior in sight, among
either the Republicans or the Democrats, but soon,
when primary and caucus have produced a nominee by
relentlessly eliminating the chaff from the wheat,
it will be game on, and a very different game than
the one we’ve seen.
Alan Krueger, the president’s top economic adviser,
spins the new government figures as providing
“further evidence that the economy is continuing to
heal,” that only the failed Obama economic policies
can help the country “dig our way out of the deep
hole.” Alas, the only thing anyone can accomplish by
digging to get out of a hole is a deeper hole.
In fact, the only way Mr. Obama can make mediocre
economic news look good, observes Investors Business
Daily, is to set expectations “so low that even a
tiny step forward seems like a giant leap.” That’s
not much of a strategy.
Wesley Pruden is editor emeritus of The
Washington Times.