If you watch a lot of cable news, you know that whenever there’s a poll that comes out it is suddenly “news.” Networks spend a lot of money on polling and they aren’t going to waste it by ignoring the results. I have even heard news channels report on rivals’ polls, such is the need to fill air time with mostly meaningless snapshots of public opinion.
Most of the snapshots lately have shown some bad news for President Obama, both regarding foreign policy and things here at home, including the economy. But that’s not surprising considering the trouble in the world and the relentless beating he takes on Fox and its creepy companion, talk radio, 24 hours a day, every day.
The right in this country, because it has a theological conviction that the media are on the side of the devil, Barack Hussein Obama, thinks the networks are actually protecting him from the results of their own polling. Breitbart, one of the papal outposts of right-wing paranoia, posted a piece today with this headline:
The “study” was done by The Media Research Center, which is an outfit designed to intimidate journalists and networks into practicing “both sides are equally guilty” journalism, a strategy that works quite well for the right I might add. The story ends with this:
The media is not dumb. During the Bush years, the media knew that pounding these numbers to death would only serve to sour the public even more on the Bush presidency. A frenzy of pessimism breeds pessimism.
This same media is obviously willing to go to extraordinary, even absurd lengths, to protect Obama from that same feeding frenzy.
While it is obviously absurd to think the media (it’s not really one thing, but let’s pretend it is) is/are protecting the President, I can agree with the writer that “pessimism breeds pessimism.” That is why the country, fed a steady diet of pessimism for so long, is so down on itself and the President, despite the good economic news. Oh, you didn’t know there was good economic news? That’s the point. You may not have known about it, since news reports, especially on cable news channels, tend to focus on all the negative aspects of the economy (which there are too many, to be sure), while ignoring the reality of what has happened since President Obama came into office.
On that note, here goes, courtesy of Adam Hartung at Forbes (you should really read his entire post, “Obama Outperforms Reagan On Jobs, Growth And Investing”) and his guest, Bob Deitrick, CEO and author:
♦ “Jobless claims [for August] were just over 300,000; lowest since 2007. Despite the lower than expected August jobs number [142,000 jobs were created], America will create about 2.5 million new jobs in 2014.”
♦ “This is the best private sector jobs creation performance in American history”:
♦ Here is a chart from the Bureau of Labor Statistics showing labor participation since 1948:“As this chart…shows, as the Baby Boomers entered the workforce and societal acceptance of women working changed, labor participation grew.
“Now that ‘Boomers’ are retiring we are seeing the percentage of those seeking employment decline. This has nothing to do with job availability, and everything to do with a highly predictable aging demographic.
“What’s now clear is that the Obama administration policies have outperformed the Reagan administration policies for job creation and unemployment reduction. Even though Reagan had the benefit of a growing Boomer class to ignite economic growth, while Obama has been forced to deal with a retiring workforce developing special needs. During the eight years preceding Obama there was a net reduction in jobs in America. We now are rapidly moving toward higher, sustainable jobs growth.”
♦ “…the Institute for Supply Management (ISM) released its manufacturing report, and it surprised nearly everyone. The latest Purchasing Managers Index (PMI) scored 59, two points higher than July and about that much higher than prognosticators expected. This represents 63 straight months of economic expansion, and 25 consecutive months of manufacturing expansion.”
♦ “As the last 15 months have proven, jobs and economy are improving, and investors are benefiting”:
“While most Americans think they are not involved with the stock market, truthfully they are. Via their 401K, pension plan and employer savings accounts 2/3 of Americans have a clear vested interest in stock performance.
“As this chart shows, over the first 67 months of their presidencies there is a clear “winner” from an investor’s viewpoint. A dollar invested when Reagan assumed the presidency would have yielded a staggering 190% return. Such returns were unheard of prior to his leadership.
“However, it is undeniable that President Obama has surpassed the previous president. Investors have gained a remarkable 220% over the last 5.5 years! This level of investor growth is unprecedented by any administration, and has proven quite beneficial for everyone.
“In 2009, with pension funds underfunded and most private retirement accounts savaged by the financial meltdown and Wall Street losses, Boomers and Seniors were resigned to never retiring. The nest egg appeared gone, leaving the ‘chickens’ to keep working. But now that the coffers have been reloaded increasingly people age 55 – 70 are happily discovering they can quit their old jobs and spend time with family, relax, enjoy hobbies or start new at-home businesses from their laptops or tablets. It is due to a skyrocketing stock market that people can now pursue these dreams and reduce the labor participation rates for ‘better pastures.”
The next time you hear some journalist on the telly talking about how Americans don’t approve of Obama’s handling of the economy (and by and large they don’t), remind yourself to do a better job of explaining to your family, friends, and co-workers that things are much, much better than they think. And if you really want to piss off right-wingers you know, don’t forget to tell them that:
“Obama Outperforms Reagan On Jobs, Growth And Investing”
h/t: Drew Graham