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5 Myths Propping Up the Obama Presidency

How many will crash by November 2014?

by
Tom Blumer

Bio

January 2, 2014 - 9:59 pm
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As 2014 begins, President Barack Obama’s approval rating is at its lowest point in his five-year tenure. Imagine where it would be if the establishment press treated him the way it did George W. Bush.

The president’s media apparatchiks are propping up what remains of the president’s popularity with five myths.

1. The economy has become strong, and is getting stronger.

Media reports have been calling recent job gains “robust.” Hardly. 2013′s estimated job growth of almost 2.4 million is still only 60 percent of what was achieved annually on a population-adjusted basis for a full six years during the 1980s. (See chart below.)

Job growth should be far greater, because there is still so much ground to make up from the disastrous POR (Pelosi-Obama-Reid) economy-driven recession of 2008-2009.

It’s bad enough that payroll employment is still 1.3 million below its January 2008 peak. It’s worse that employment in the Household Survey is 2 million shy of where it was in that same month. If we’re lucky and this plodding progress continues, it will have taken almost seven years for that more comprehensive measure of employment to return to where it was before the recession began β€” and several more years, if ever, before a recovery in employment catches up to eligible adult population growth.

2013JobGrowthVs1983to1988

Almost 40 percent of the reported economic growth during the first three quarters of 2013 came about because of inventory build-ups. Tentative results from the recent Christmas shopping season show that consumers haven’t been buying enough to significantly deplete those stockpiles. That does not bode well for production during the fourth quarter or early 2014.

2. The government’s finances have stabilized.

We’re supposed to be impressed that the Federal Reserve will only be creating $900 billion a year in funny money instead of $1.02 trillion. The truth remains, as outgoing Fed Chairman Ben Bernanke told Congress in July,Β that without this historically unprecedented level of artificial stimulus, “the economy would tank.”

The Fed’s decision to barely taper its stimulus to $75 billion per month from $85 billion is really a vote of no confidence in the government’s ability to survive on its own. Before the taper, the Fed was financing $540 billion, or about half, of the government’s annual trilion-dollar 2012 deficit (the rest goes into sopping up mortgage-backed securities). The taper only reduces that to $480 billion, which is about 80 percent of the government’s projected fiscal 2014 deficit. This means that Bernanke & Co., soon to be Janet Yellen & Co., believe that precious few others want to own additional Treasury securities. They are probably right.

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Top Rated Comments   
We now come to find out that Obamacare doesn't have the ability to make website changes for simple life events, like a birth of a baby, divorce, change in income. The system wasn't built to handle that. Or payment. Or security.

It doesn't have a power measurement in gigabytes, it has mice running on a circular wheel.

If you were too stupid to be a TSA agent, you apparently could still make good money on your laptop...building Obamacare's website.

This administration has been spectacular so far. The aforementioned TSA is the hallmark of reach around homeland security.

The NSA and IRS is protecting us from phony phone calls that ask, do you have Prince Barry in a can, and assemblages of the ever dangerous Catholics, Orthodox Jews, Evangelicals and small government types.

Running guns to drug cartels and passing marijuana legislation will keep Make Room For Choom spirit alive.

Yep, this administration has a plan. Grope, scope, dope....and the one useful idiots have helped make...the end of a rope.
30 weeks ago
30 weeks ago Link To Comment
The five myths propping Obama up are

The New York Times
The Washington Post
NBC
CBS
ABC
30 weeks ago
30 weeks ago Link To Comment
I had Christmas Eve dinner with a number of Obama voters. The food was excellent, but the conversation was moronic. I got an earful of how Christianity has killed more people than any other religion or ideology. I ate and left.
The idiots who voted for Obama are still around. Everything is Bush's fault. Every Obama felony is justified by a Republican misdemeanor.
30 weeks ago
30 weeks ago Link To Comment
All Comments   (36)
All Comments   (36)
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B. Obama suffers from delusions of competence. The USA suffers from voter incompetence.
29 weeks ago
29 weeks ago Link To Comment
Democrats like the Obama/Biden regime need poverty. The more they do to combat poverty, the greater poverty becomes. The poverty industry financed by trillions of dollars of borrowed money keeps politicians, teachers, media moguls in business. So the democrat paradigm has always been about creating poverty and despair where there once was prosperity and hope. Lyndon Johnson the consummate con man convinced Americans that the war on poverty would be a great thing; several trillion dollars later we find out that there is much more poverty but we need the same Johnsonian fix. Obama and Biden are creatures of the democrat war on poverty which enriches the politicians and their hangers on and impoverishes the country.
29 weeks ago
29 weeks ago Link To Comment
A walk in downtown S.F. today belies the recovery talk. Shuttered former stores, beggars on every corner, garbage in the streets and sidewalks.
30 weeks ago
30 weeks ago Link To Comment
Building condos and apartments lie mad south of market.
29 weeks ago
29 weeks ago Link To Comment
Downtown San Francisco has been like that for the last 20 years!!
29 weeks ago
29 weeks ago Link To Comment
It's too late.
30 weeks ago
30 weeks ago Link To Comment
Noticed the smaller lefty blogs losing ads and shutting down, if not fundraising in some other way. Daily headlines like The President is Great not really needed and the only comments are "Yes, he's doing a double-plus good job!"
30 weeks ago
30 weeks ago Link To Comment
Interesting comment. I was unaware of this.
30 weeks ago
30 weeks ago Link To Comment
We've had nothing but myths for 5 years now and none of that has mattered to a majority in the country.
30 weeks ago
30 weeks ago Link To Comment
That leftists are "liberals" who love their country.

That there is no radical leftist/radical Islamist connection.

That anyone who sees the connection and tries to connect the dots...is "an hysteric" or a "tinfoil hat wearer"

And that justice is still available against sedition.

http://www.powerlineblog.com/archives/2014/01/learning-from-lynne-stewart.php
30 weeks ago
30 weeks ago Link To Comment
Lying gives one a temporary advantage and a permanent disadvantage. Hope is the total absence of foresight. Change is almost always bad in the absence of foresight.
30 weeks ago
30 weeks ago Link To Comment
In a story that should scare many, the reports are that big money is selling huge amounts of stocks, reported on drudge today, and whether you like Soros or not, when he is reported selling millions of shares in bank stocks, something is afoot.

When Buffett is reported selling huge amount of shares in consumer oriented companies, that is a signal that the economy isn't what people think it is.
30 weeks ago
30 weeks ago Link To Comment
Myths?
All 5 on your list are long "cons" - since all the perps are confidence tricksters that lie and deceive their way into power over people, on the road to establishing a permanent underclass. Obamacare is a con; the end game being single payer and total control/power over at least one sixth of the economy. Now that American people have been treated to fully fledged series of bald-faced lies from the main confidence trickster; his approval rating is now lower than a snake's belly in a wagon rut. Obama has nowhere left to go, and neither does Obamacare ... the left have insulted the sensibilities of the entire nation and now they will reap the whirlwind ... THIS is what will scare the crap out of our enemies and reassure our allies and good people everywhere, that the U.S.A. is emerging stronger than ever. OFA couldn't organize a chimp's tea party; they're delusional to think that they can advance a communist-lite agenda upon us and they sure as hell don't speak for the majority.
30 weeks ago
30 weeks ago Link To Comment
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