Filed under: Capitalism, Democrat Corruption, Economy, Energy, Progressivism, Statism | Tags: "The New Normal", 7.9 % Unemployment, Obama's Record
Nations probably never choose decline, at least not consciously. More likely they become victims of a creeping normalcy. Things once objectionable can become passively acceptable if they happen slowly, incrementally: the boiling-frog syndrome. Decline just sort of happens, year by year, decade by decade, one “meh” economic report at a time.
The important phrase is “creeping normalcy,” accepting as normal and natural a situation that is anything but. Obama has had four years, going on five, of over 7% unemployment. That is neither normal nor acceptable. When the Labor Department reported a decline in GDP and a rise in the unemployment rate to 7.9%, we should be angry about it. It doesn’t need to be this way. We have a history of successful recovery from downturns, and we know how to do it.
The economy added 157,000 net new jobs. Obama apparently sees this as progress, but at that rate of job creation, all else being equal, the economy would not return to 4.4% —the George W. Bush administration’s low point — for another eight years.
A president actually concerned about growth would have followed some of the recommendations of his Jobs and Competitiveness Council. He would have approved a pipeline. He would have expanded domestic oil and gas drilling, and fixed the corporate tax code. He would have put a brake on new regulation. Of all the things that may be wrong with our economy, a lack of enough regulation is not one of them.
This is not the new normal. This is the result of deliberate choices by a president who values payback for his supporters more highly than creating jobs. When something goes on too long without real signs of progress, it’s easy to slide into thinking that this is just the way it is, and it will always be like this, Do not accept sluggish growth and high unemployment as normal. This is not normal, it is defeatism. Fight back.