Obama’s Blame Game On The Economy

by Don Azarias
August 1, 2012
In his speech on the economy and the Euro crisis, President Barack Obama blamed Republicans for opposing stimulus that he said would have created a million new jobs. He also blamed “headwinds” from the European financial crisis for slower job recovery in America.
Republican leaders on Capitol Hill led by House Speaker John Boehner and House Majority Leader Eric Cantor responded quickly. They accused the president of finger-pointing when it comes to the nation’s economic woes. In a press conference, Cantor said Obama was playing a “blame game,” and that House Republicans wanted to extend Bush-era tax cuts and repeal health care reform to stimulate the economy.
“It’s not because of the headwinds of Europe…It’s not because of House Republicans. It’s because of the failed stimulus policies and other items in [Obama’s] agenda that small businesses in this country aren’t growing,” Cantor said. The two Republican leaders ridiculed Obama for saying the private sector is “doing just fine.”
While Cantor conceded that Europe is “a serious problem,” for America’s economy, he and Boehner said the best way to address that is by reducing America’s debt. “Just because Europe has problems doesn’t mean that we can’t begin to solve our problems,” Boehner said. “If we don’t get busy dealing with our debt we’ll be in the same shape.”
“We just listened to the president say that the private sector is doing fine. And my question would be to the president: Are you kidding? Did he see the job numbers that came out last week? The private sector is not doing fine,” House Majority Leader Eric Cantor, R-Virginia, said in remarks after the president’s.
“And, frankly, I’d ask the president to stop engaging in the blame game. It’s not because of the headwinds of Europe. It’s not—despite his attempts and his party’s attempts here in Congress—it is not because of House Republicans. It’s because of the failed stimulus policies and other items in his agenda that small businesses in this country just aren’t growing.”
Republican presidential candidate Mitt Romney also criticized the president’s characterization of a private sector on the upswing. “Is he really that out of touch? I think he’s defining what it means to be detached and out of touch with the American people,” Romney told a gathering of supporters in Council Bluffs, Iowa.
“We have actually seen some good momentum in the private sector,” Obama said later in the day in an effort to clarify his earlier remarks. Of course, we all know that it’s nothing but a face-saving move by the president.
Stocks are plunging on weak economic indicators these days, especially on the disappointing May jobs report that showed the economy creating only a net 69,000 jobs, which was below what mainstream economists consider ideal. These kinds of disappointing headlines often send market value of stocks falling as evidenced by Dow Jones Industrial Average’s (DJIA) fall of 2.22 percent in wake of the dreary unemployment report.
As it had always been in politics, it’s always tough run for any incumbent president during an election year. For Obama, it means defending his record during his four year of presidency. And it’s a fact that the incumbent, given a choice, would rather not debate a challenger. It’s really a do or die situation for Obama in trying to convince the skeptical American voters that he deserves another four years in the White House.
However, it’s still a rocky road to his campaign path. With the European debt crisis unraveling on the other side of the pond, it could threaten the fragile U.S. economic recovery. A European recession would mean U.S. companies sell less of their products overseas. Markets, experts say, may be bracing for a possible U.S. recession, especially considering Europe is likely in one and China’s growth continues cooling by more than expected, as evidenced by weak manufacturing and service-sector figures. Obama should also refrain from placing the blame for the nation’s debt and deficit on his predecessor George W. Bush.
Meanwhile former Minnesota Governor and former presidential candidate Tim Pawlenty got into the act by defending Mitt Romney after Vice President Joe Biden made a claim that Romney “don’t get” [sic] middle class or working class Americans.
‘I think we get Joe Biden and Barack Obama very well,” Pawlenty said. “Vice President Biden hasn’t been in the private sector since Gerald Ford was president. He has spent his entire adult life in government. He said the other day in a speech that he’s glad he hasn’t been in the private sector because then he would have to be accountable. This is the person the President dubbed the sheriff of spending and stimulus which turned out to be a joke. We have a president of the United States who called his predecessor George Bush unpatriotic and irresponsible for a deficit and debt level he left behind, now Barack Obama has made that exponentially worse. That’s hypocrisy of the highest order. This president wasn’t ready to be president, he failed in getting this economy turned around, he’s had his chance. We need Mitt Romney as president.”
Mr. Pawlenty, I think you’re right on target and I think a vast majority of the American voters agree with you.