THE DOOMSDAY CLOCK IS TICKING
June 4, 2012
Shortly after 8:30 a.m. Friday Morning, President Obama's reelection team was silenced for the moment, only to hear a constant tick, tick, ticking in its ear.
We learned that job growth in May was the lowest in a year, unemployment rose to 8.2 percent with the underemployment (or "real unemployment") rate climbing to 14.8 percent.
Add to these woeful data points the fact that the GDP grew at an annualized rate of 1.9 percent in the first quarter of 2012 (down from a rate of 3 percent at the end of 2011), and you have a full picture of the U.S. economy as a ship without a captain.
Immediately, the campaign kicked in to "Blame Bush" mode and went back out on the trail to calm the fears of its base and mindless followers.
White House spokesman Josh Earnest told reporters traveling with Obama to a Minnesota fund raiser, "What we're looking at is the longer-term trend. The economy is still adding jobs, as it has for more than two years, but it's readily apparent that we're not adding those jobs at a rapid enough pace." To which, the President added, "we need more time to fix this economy which began spiraling before we took office."
Ah Ha! Blame Bush! Here we go again!
A dear friend of mine once thought that by now, the Congress would have sent to the states an amendment to the Constitution repealing the 22nd Amendment. Thereby allowing Obama to run for as many terms as his heart deemed fit. Just think in the 2028 election, Obama, seeking an unprecedented sixth term would still be blaming George Bush for a $120 Trillion debt and an unemployment rate hovering around 20 percent.
Yes, Friday wasn't a good day of President Obama. In his frantic effort to put more miles on Air Force One than all the previous Presidents who ever flew on the plane (Eisenhower thru George W.) combined, he had to fire up the old teleprompter at least eight more times over the weekend to deflect. What he seriously needs to do is reflect.
There is still unquestionably a long time until the November presidential election and a lot can happen in five months. However, the electorate's perception that the president is listless on the one issue that matters the most—the economy—is going to be very hard to overcome. Case in point—another statistic that President Obama and his team should look at very closely—the Gallup Tracking Poll for the week of May 24 to 31, which had Mitt Romney in the lead, came in Friday.
It does not take a political genius to predict the effect of Friday Doomsday on those numbers.
On the other side, Mitt Romney continues to gain in battleground states from Nevada to Virginia, Florida to Pennsylvania, and beyond, as well as making leaps among women and young voters. The reason for this steady advance has been Romney's dogged focus on the economy. It is also that focus that has rendered the Obama team's "Bain attacks" a boomerang.
Romney has to stay the course—tout his views of where the economy is today, should be today, and will be if he is elected. Coupled with the complete inefficacy of the Obama White House these efforts by Romney are due to result in November 6, 2012 being the end of the Obama presidency.
Tick, tick, tick, Mr. President!
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