New and busted: "Nobody could have fixed this."
Here are some headlines from the past couple days:
Zero Hedge: "Jobless claims spike is fourth largest in 2012 as producer prices surge by most since June 2009."
Hot Air: "Great news: Middle class sinks to all-time low in 2011."
CBS News: "Survey: One-third of Americans in 'lower classes' since Obama took office."
NPR: "Gas sends wholesale prices up the most in 3 years."
and finally: "Does this look like an economy that's moving forward?"
And yet two years ago, when it looked like the economy was on the mend, the Obama administration was hanging the "Mission Accomplished!" banners:
We're asked to believe that the Obama administration knew all along that things would take longer than four years to improve. "I never said this journey would be easy," the president claimed in Charlotte. On the contrary, the president stated explicitly on Feb. 1, 2009, that if he failed to get the economy turned around in three years, he would be looking at a "one-term proposition."It's pretty clear that Obama never thought his policies would lead to such a weak recovery and had no Plan B. Should have told better stories.
If the Obama administration knew from the start that the so-called "hole" left by the previous administration was too deep to climb out of in one term, why did they repeatedly claim that the recovery was at hand? "Recovery Summer," the White House website promised, would begin in June 2010.
Treasury Secretary Tim Geithner authored a New York Times op-ed in August 2010 proclaiming "Welcome to the Recovery." Geithner wrote, "(A) review of recent data on the American economy shows that we are on a path back to growth." Though acknowledging continuing challenges, Geithner assured readers that "the actions we took ... to stimulate the economy helped arrest the freefall, preventing an even deeper collapse and putting the economy on the road to recovery."