The Monday letter "Obama isn't solo in working on economy" from Joe Winner showed the difference between reality and perception. Winner absolves President Barack Obama for the woeful economy. He offers a litany of fall guys.
The Monday letter “Obama isn't solo in working on economy” from Joe Winner showed the difference between reality and perception. Winner absolves President Barack Obama for the woeful economy. He offers a litany of fall guys.
I don't fault him; he most likely gets information from one or two sources. The facts say different.
The weekly job-growth numbers consistently have been revised downward. The unemployment percentage has gone down, but that largely has been due to people leaving the work force. The Federal Reserve has helped, albeit in the wrong way. The Fed has pumped so much money into bonds that investors have left that market and gone into stocks.
Thus, the market has risen artificially. Guess what, Winner: Your retirement account has benefited along with corporations. As for corporations “sitting on vast amounts of money,” really?
For the past five years, regulations — imposed by the Dodd-Frank and Affordable Care acts and the EPA — have hindered any thought of expansion.
Obama should lead. He has not. The Senate has chosen to do nothing since the midterm elections of 2010.
Instead, Senate Majority Leader Harry Reid, D-Nev., and Obama have decided to let supposed journalists set the narrative. That has been to blame Republicans for their failings.
- JOHN E. SPARKS