Obama’s Financial Mis-handling is Adding to Jobless Woes

This stunning truth was a result of "Market Watch" report of June 01, 2012, by Jeffry Bartash, where it was reported that the woefully weak U.S. economy generated a measly 69,000 jobs in May, 2012, "the fewest number of new jobs in a year" and making it even more miserable was the unwanted accompanying news that the "unemployment rate moved up to 8.2% from 8.1% - the first increase in 11 months." Making matters more uncomfortable for Barack Obama, the great 'promiser' of a strong recovery, was the timing just FIVE short months from the November 2012 national elections mixing with unfavorable comments from notable members of his own Democratic political party. GOP Chair Priebus said in his RedState.com interview on June 01, 2012, that former President Bill Clinton was heaping praise on Obama opponent Mitt Romney for his sterling career while in the private sector and on the following morning, Steny Hoyer, House Minority Whip, echoed that sentiment, underscoring the importance of the private sector in growing our economy.

Priebus also commented that "President Obama has failed to live up to the promise of his candidacy. In 2009, he and his team promised an unemployment rate below 6 percent by 2012. We're far from it." The GOP Chair also credited Obama's "weak leadership.Instead of pursuing policies that would help job creators put Americans back to work, he's burdened them with ObamaCare, regulations, and continued threats of higher taxes, quoting former Alabama Democratic Congressman and 2008 Obama National Co-Chair Artur Davis, who this week left the Democrat Party: "I have regularly criticized an agenda that would punish businesses and job creators with more taxes just as they are trying to thrive again." Mr. Priebus reminds us "Not only has President Obama presided over a devastating economy, but he also refuses to hold himself accountable for it. In 2009, however, he was singing a different tune. If he didn't have the economy fixed "in three years," he promised, his presidency would be a "one-term proposition." Now don't you think that an offer such as that from a person who would have us believe in his messianic makeup, should be accepted after failure to even come close to being successful in his promise? But, how many out there actually believed those pledging promises as opposed to the number who dismissed his asserted vows as 'just more lies' from a colossal prevaricator? Obama's lack of leadership qualities are nearly equal to his propensity for lying instead of facing realities. Since his very first major attempt to exercise his presidential authorities by foisting the monumental and gigantic nearly trillion dollar bailout bill to answer the growing specter of unemployment which ultimately also failed, he has floundered in shallow waters and attempted to place the blame on everybody and everything but the real culprit - HIMSELF. The most recent failure to bolster the employed ranks with the paltry gain of 69,000 jobs in tandem with another increase in the unemployment rate gave rise to falling stocks with Dow Jones industrial average falling more than 250 points. This sort of information is to the public like pouring more water on the sinking Titanic. MarketWatch.com economists had forecast an increase of 165,000 new jobs and the jobless rate to hold steady at 8.1 percent. This latest information took a toll on investors who were already concerned with Europe's dismal money woes and its effects on our own money markets. The May 2012 disaster in jobs numbers will most certainly dampen and discourage hopes for a significant uptick in new jobs in the coming months, casting a pall over Democrat hopes for a successful national election campaign. MarketWatch had most economists believing the U. S. was on track to add up to 200,000 jobs a month just to keep up with population growth, but they have also stated that "at least a 250,000 jobs increase for several years would be required to bring employment back to pre-recession levels." The errant piper must be paid; after three and one half years, Obama and friends no longer have Bush to blame.