The May jobs report came out this morning, and it is dismal: a mere 69,000 jobs were added, and unemployment rose to 8.2%. The Obama campaign has been hoping for a slight uptick in the economy that their allies in the press could magnify into something significant, but they aren’t getting it. At this point, it may be too late.
In the segment I did on the Kudlow Report last night, the former Clinton aide who tried to defend Obama’s record claimed that unemployment was at 10% when he took office. This is ridiculous, of course, and he was swiftly corrected: the unemployment rate in January 2009 was 7.6%. After 3 1/2 years in office, the unemployment rate is higher today than when the Obama administration began, and that doesn’t even take into account the millions of Americans who have left the job market since 2009.
When President and Mrs. Bush were at the White House yesterday, President Obama couldn’t resist (as Paul noted here) whining about the terrible economy he inherited. Can you imagine a CEO who ran a company for four years, and was still complaining about how tough he had it as his company continued to slide downhill? The Board would summarily dismiss him. Let’s hope that’s what the voters do with Obama in November.