THE PROGRESSIVE CONSERVATIVE, USA
An Online Journal of Political Commentary & Analysis
Volume XIV, Issue # 112, June 3, 2012
Dr. Almon Leroy Way, Jr., Editor
Government Committed to & Acting in Accord with Conservative Principles
Ensures a Nation's Strength, Progress, & Prosperity
OBAMA'S BLACK FRIDAY
By Alan Caruba
THE CURRENT CONDITION OF THE AMERICAN ECONOMY & BARACK OBAMA'S CHANCES OF WINNING HIS BID FOR REELECTION TO THE U.S. PRESIDENCY:
HIGH UNEMPLOYMENT & UNDEREMPLOYMENT, ESPECIALLY AMONG WOMEN & YOUNGER AMERICANS -- THE FAILED ATTEMPT TO DEMONIZE REPUBLICAN
PRESIDENTIAL CANDIDATE MITT ROMNEY -- PROMINENT DEMOCRATS ABANDONING OBAMA'S REELECTION CAMPAIGN -- OBAMA'S INTERVENTION INTO THE
ECONOMY DESTROYING AMERICAN BUSINESSES & JOBS -- THE U.S.A. EXPERIENCING A VERY SERIOUS RECESSION, IF NOT A DEPRESSION -- THE PENDING
"TAXAMAGEDDON" THAT WILL BRING THE LARGEST TAX INCREASE IN THE HISTORY OF THE AMERICAN NATION -- SECOND THOUGHTS ON THE PART OF
MEMBERS OF THE MAINSTREAM MEDIA WHO WERE LARGELY RESPONSIBLE FOR OBAMA'S ELECTION VICTORY IN 2008 -- OBAMA'S HOPE FOR REELECTION ON
NOVEMBER 6, 2012, RANGING FROM SLIM TO NONE
FULL STORY:
Black Tuesday, October 29, 1929, marked the beginning of the Great Depression, but, for Barack Obama, last Friday, June 1, 2012, was Black Friday because the
Bureau of Labor Statistics, U.S. Department of Labor, announced that only 69,000 jobs were added to the American economy in May, 2012, well below
expectations that it might reach 150,000. The official unemployment rate ticked up to 8.2 percent, but it is actually far closer to 15 percent.
The news means that Obama’s hope of being reelected ranges between slim to none. Beyond the current numbers, on Friday CNS News reported that 766,000
more women are unemployed than when he took office in 2009.
Also on Friday, Generation Opportunity, a non-profit, non-partisan organization devoted to younger Americans reported that unemployment among young
adults, ages 18 to 29, was 12.1 percent in May. “The declining labor participation has created an additional 1.7 million young adults that are not counted as
‘unemployed’ by the Bureau of Labor Statistics because they are not in the labor force, having given up looking for work.” If their numbers were factored in,
“the actual 18-29 unemployment rate would rise to 16.9 percent.”
On Thursday, Obama got more bad news. Former President Bill Clinton told CNN that Mitt Romney’s business record at Bain Capital was “sterling.”
Clinton said, “I don’t think that we ought to get into the position where we say ‘This is bad work. This is good work.’ The man who has been governor and
had a sterling business career crosses the qualification threshold.”
Clinton’s appraisal came at the end of the third week that Team Obama had been trying to demonize Romney for having been a successful venture capitalist.
Clinton isn’t the only prominent Democrat to jump off the SS Obama. Newark Mayor Cory Booker and Massachusetts Gov. Deval Patrick also refused to press
the Obama attack on Bain.
Obama has little with which to campaign upon. When Karl Rove, Bush’s former White House advisor, examined “Obama’s Public-Equity Record” in a May 10
Wall Street Journal column, he noted that the Obama administration had forced General Motors and Chrysler into bankruptcy and, instead of allowing
the process to proceed normally, the Obama bailout cost jobs.
“GM employed roughly 252,000 workers in 2008. Now it has 207,000, with 131,000 of them working in foreign nations.” Citing data from the National Automobile
Dealers Association, Rove estimated that “as many as 100,000 Americans lost jobs at the companies’ dealerships.”
GM and Chrysler creditors were left without compensation, while Obama ensured that the United Auto Workers Union gained ownership equity in both
companies. Then he stood by “as the UAW forced the closure of a plant in Moraine, Ohio, where workers had joined a rival union.”
By almost any economic measurement, the nation is experiencing, if not a Depression, at least a very serious Recession, despite the official pronouncement that
it had ended in 2010. The Recession hitting European nations is having global repercussions as well.
Obama has had nothing to say about the pending “Taxamageddon” that will kick in during January, 2013, bringing the largest tax hike in the history of the
nation. He never mentions the “stimulus,” nor Obamacare. The latter is likely to be ruled unconstitutional by the U.S. Supreme Court in June.
Even members of the mainstream press that were largely responsible for Obama’s election in 2008 are beginning to have second thoughts. Dana Milbank of the
reliably Liberal Washington Post in April wrote that Obama “is making me queasy because his nonstop campaigning is looking, well, sleazy — and his
ad suggesting that Mitt Romney wouldn’t have killed Osama bin Laden is just the beginning of it.”
The polls are all trending away from Obama. On almost every issue, Romney has either tied or surpassed him. Obama looks weak because he is weak.
There’s just over five months to go before November 6, Election Day. They are going to be the worst five months of Obama’s life, but, for millions of Americans
out of work and unable to find work, they will be just as bad or worse. Many of them are women. Many of them are young adults. Many of them represent a
dwindling base of African-Americans and Latinos.
Many of them are voters.
© Alan Caruba, 2012
LINKS TO RELATED TOPICS:
Political Economy -- Philosophies, Systems, & Public Policies:
Government, the Economy, & Economic Prosperity
American Politics, Political Competition, & the Control of
Public Policy: Elections, Political Parties, Political Factions,
Ideologies, & Special Interest Groups
American Government & the U.S. Presidency:
Presidential Politics & National Leadership
The American Political System:
Politics & Government in the U.S.A.
The American Political & Cultural Left:
Liberals, Statists, Socialists, Marxists, & Other Leftists:
The Democratic Party, Academia, & the Mainstream Media
Alan Caruba's commentaries are posted daily at Warning Signs, his popular blog -- and thereafter on dozens of other
websites and blogs. His monthly report on new books is posted at Bookviews.
A business and science writer, Caruba is the Founder of The National Anxiety Center, a clearinghouse for information
about "scare campaigns" designed to influence public opinion and public policy.
Return to Top of Page
Go to the WEBSITE INDEX
Return to Beginning of
THE PROGRESSIVE CONSERVATIVE, USA,
Public Issues & Political Controversies
Return to Beginning of
THE PROGRESSIVE CONSERVATIVE, USA
Most Recent Articles
Return to Beginning of
THE PROGRESSIVE CONSERVATIVE, USA,
Volume XIV, 2011
Return to Beginning of
THE PROGRESSIVE CONSERVATIVE, USA,
Subject Matter Highlights
Return to POLITICAL EDUCATION Homepage
CONTACT & ACCESS INFORMATION
This is not a commercial website. The sole purpose of the website is to share with interested persons information regarding civics,
civic and social education, political science, government, politics, law, constitutional law and history, public policy and political
philosophy and history, as well as current and recent political developments, public issues, and political controversies.
POLITICAL EDUCATION, CONSERVATIVE ANALYSIS
POLITICS, SOCIETY, & THE SOVEREIGN STATE
Website of Dr. Almon Leroy Way, Jr.
Government, Politics, Public Policy, Legal Issues, Constitutional Law, Government & the Economy, Cultural Values, Foreign Affairs,
International Relations, Military Defense & National Security, Geopolitics, Terrorism & Homeland Security, American National Interests,
Political Systems & Processes, Political Institutions, Political Ideologies, & Political Philosophy
INDEX FOR THE ENTIRE WEBSITE
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z
THE PROGRESSIVE CONSERVATIVE, USA
An Online Journal of Political Commentary & Analysis
Dr. Almon Leroy Way, Jr., Editor
Conservative & Free-Market Analysis of Government, Politics & Public Policy, Covering Political, Legal, Constitutional, Economic,
Cultural, Military, International, Strategic, & Geopolitical Issues
Conservative Government Ensures a Nation's Strength, Progress, & Prosperity