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Sunday, Aug. 5, 2012 | 2 a.m.
Editor’s note: Line of Attack is a feature that will run each week until the Nov. 6 election. In Line of Attack, we will parse a political attack, looking at the strategy behind it, how the campaign is delivering it and what facts support or refute it. We’ll assign it a rating on the fairness meter: Legit, Eye Roll, Guffaw, Laughable or Outrageous.
Attack: This is the worst economic recovery American has ever had.
Method of delivery: The televised ad from Crossroads GPS, an independent conservative group, uses CBS News anchor Scott Pelley to deliver the attack. “Good evening,” Pelley said in the July 17 broadcast. “This is the worst economic recovery America has ever had.” The ad then cuts to a list of bad economic news: job losses, skyrocketing unemployment, failed promises by President Barack Obama. Then a narrator articulates the whole point of the attack: “The results of President Obama’s failed stimulus policies.”
Strategy: The economy’s sluggish recovery from the Great Recession is the most lethal yoke opponents have to tie around Obama’s neck. Although the ad doesn’t blame the president for the crash that took place in 2008, before Obama took office, it holds him accountable for failing to turn the ship around.
Fairness meter: Obama and Democrats have conceded their frustration that the recovery has not resulted in enough jobs and that unemployment is too high.
But there’s no evidence to back up the assertion, repeated by Crossroads GPS, that this is the worst recovery in American history.
It’s not clear where Pelley gets the assertion that this is “the worst economic recovery America has ever had.” The rest of the CBS News segment focuses on Ben Bernanke, chairman of the Federal Reserve, predicting that job growth would be sluggish.
A CBS News representative declined to comment to the Las Vegas Sun. A Crossroads spokesman did not provide any historical backup.
Elliott Parker, professor of economics at UNR, ran some numbers after the Las Vegas Sun brought the attack to his attention.
By his calculation, the recovery after the 2001 recession was slower, as measured by private gross domestic product, than the current recovery.
A separate analysis of Department of Commerce numbers by The Wall Street Journal late last month said the recovery was the second-weakest post-war, behind the 1980-81 recovery.
And that’s not even looking back to America’s earlier history, including the Great Depression.
Even Mitt Romney, in June 2011, couched his criticism of the economy’s recovery by saying: “This is the slowest job recovery since (former President Herbert) Hoover.”
Romney’s more modest claim of truncating history was deemed false by the nonpartisan website PolitiFact.
We rate this attack Laughable.
Those George W. Bush administration era tax cuts for the "job creators" have been in place for 11+ years now, i guess the "job creators" need to stockpile a few hundred Billion dollars more before they can start creating jobs hey?
I rate your assessment laughable. I expect no less from left-wingers than to be apologists for the second-worst president in my lifetime - Osama Obama. I rate only the peanut farmer as worse and I voted for the jerk (the first time)! To be precise, I voted against Gerald Ford for pardoning Richard Nixon.
The Sun's Fairness meter: Obama and Democrats have conceded their frustration that the recovery has not resulted in enough jobs and that unemployment is too high.
Let's keep this simple
If you are one of the 15% , 1/7th the population, one of the 23 million who is underemployed the this a long long long long recession.
If you are older and live off the interest from your savings you have not had income for a long long long long time.
So they are hurting.
Now do the math
Oh give me a break!
Just two or three days ago there was a story in the Sun than the economy's "growth" has slowed significantly and yet Bernake is not going to take any action.
The state of our economy is far from "Laughable" and anything that can spur action from either major party is to be welcomed.
Like someone recovering from a major auto accident, you have to look at the progress...not compare prior to the accident.
What Obama inherited was the worst economic collapse on record. EVERY economic indicator has improved. The reason unemployment is stagnant is the PUBLIC-sector job losses, the private sector has added jobs for 41 months in a row.
Personal Income improved http://www.briefing.com/Investor/Calenda...
Consumer Confidence improved http://www.briefing.com/Investor/Calenda...
Stock Markets have more than doubled
Construction Spending has improved http://www.briefing.com/Investor/Calenda...
Auto Sales have improved http://www.briefing.com/Investor/Calenda...
Unemployment Claims have dropped http://www.briefing.com/Investor/Calenda...
Factory Orders improved http://www.briefing.com/Investor/Calenda...
I have many more. How about some of you detail what has gotten worse.
boftx, Try to stay relevant...the story was about a campaign commercial stating "this is the worst economic recovery American has ever had"
How about giving some facts to support this laughable claim instead of trolling. Commercials speaking lies does nothing to 'spur action from either major party'. How about you point your hatred towards the ones who took over the House and stalled a strong recovery INTENTIONALLY.
On this issue, where you stand determines where you sit. Sure overall, it's been quite a slog coming back from the 8 Bush years, the cliff dropping economy of losing millions and millions of jobs (8 million his last month as our 'grinning leader') even as his plan to hand his cronies tax breaks while waging war to save face at our expense based on the wisdom of Cheney's statements like "Iraq will pay us in oil for the freedom we deliver from Sadam"
Since those horrific days have ended with our new president, many stabilizing economic indicators have grown and Bill Gordon has listed some.
What I personally have found in working in several other parts of the country is good news that most in Nevada have not seen - not just marginal economic uplifting pressures, but quite significant investments, bordering on magnificent upgrading of infrastructure, housing, education.
Considering the precipitous nature of our blown-out economic base that Mr. Obama inherited from arguably the most incompetent of all presidents ever to live in the WH, what we have now is growth and stability, reliability and resilience, security and opportunity.
No Las Vegas has not seen much of this because it's well behind the curve due to her one-horse mentality, but most other locales where diversity and economic possibilities beyond the gaming/hospitality sector have empowered communities to progress, to revitalize and to restore optimism and progress in economics, quality of life and general welfare have rebounded and ignited the American way with very positive growth, imo.
If the Obama team had a plan they would certainly be using these same ads to push their plan. Instead, with no plan in mind they are using rags like the Sun to engage in an attempt to bombard the air waves with negatives about his not giving up 10 years worth of tax returns.......I will call for Romney to show his last 10 years, when the primary accuser (with NO EVIDENCE), Senator Reed gives us 10 years of his tax returns. I know that is not the law, but the law also does not require Romney to do it either. Obama, ya had 4 years with a Senate majority and did nothing but piss billions of dollars away (Solendra et al.) JUST what we need for another 4 years, another career politician with no business training or experience. Time for a change, as Romney could certainly do NO WORSE.
Comparisons like this are meaningless UNLESS it shows what we could be doing better. We are in a different world already. The Federal Reserve and other government manipulations have been carried to extremes that don't work any more. For example, holding interest rates down a percent or two might work when interest rates are above 5%. At 0%, it makes things worse. We must UNWIND the manipulations and allow an economy to start up. Similar to the thinking on cutting regulations. I'm all for regulations that are needed but not for regulations that are not needed--so many unintended consequences. And then there is the cost of writing, promulgating, enacting the regulations with the endless administrative costs and salaries that our taxpayers must pay for. And then there is the monitoring and enforcement.... The costs to regulate just don't end. For now, let's pretend we have free markets, free economic activity, and move everything in that direction. The steps might be small steps, but let's start walking so we can get some economic results.
This is what happens when lifelong activists gain power. The very truth is that President Obama has never had anything good to say about America or American business in his entire life. Peaking with that criticism during the 2008 election cycle with the full backing of the media and continuing to this very day. Complain, complain, complain. Can you imagine owning a business were the owner and supervisors show up week after week and offering nothing criticism but baseless accusations of everyone and anyone that gets near them?
The Republicans get money from Communist China to destroy the American economy. The organised crime figures bring junkets to Sheldon Adelson's private rooms in Macao. He then takes the money to fund Republican hate groups. (BTW he said he was ashamed to wear the uniform of the USA.) SHAME
There is no "recovery" and cannot be any true recovery until the whole mess crashes, burns, and is rebuilt.
This country (and the world) may have an occasional upward economic blip but the fundamental laws of economics will prevail.
Additional debt of $1 TRILLION per year, year after year (and soon to be more) is unsustainable, even IF the economic and unemployment numbers were much better.
Watch for the collapse to start in Europe or even here in the U.S. with states like california, illinois, michigan, or new york as they continue to go bankrupt and plead to the federal government for more and more financial assistance.
I see the sheep continue to slurp the kool aid and finger point at current and past presidents instead of focusing their rancor and blame where it really belongs....congress.
FYI, the sitting congress members appreciate your continued slurping and patronage as it keeps the spot light off of them...right Harry Reid???
When did Crossroads GPS become non-partisan? Their donors remain anonymous, like Romney's 10 years of tax returns. Same reason most likely.
"There is no "recovery" and cannot be any true recovery until the whole mess crashes, burns, and is rebuilt."
What you are hoping for is Hoover's approach of do nothing. We saw the results, a run on the banks. Lines of people trying to get their money out before their bank is the next to collapse. The domino effect of that is total loss of confidence and a self-feeding frenzy of bankruptcies.
While I hated the way Bush's 800 billion bank bailout was handled (bank executives paying themselves 18 billion in bonuses), it was absolutely necessary. Ben Bernanke is a scholar of the Great Depression and his actions have prevented the total collapse you want. This also happens to be Romney's plan...do nothing and let the private sector sort it out. We let the private banking sector 'self-regulate' during the Bush administration...exactly what brought on the collapse in the first place. We tried massive tax cuts during the Bush administration...that ended in NET LOST JOBS.
No President has been perfect, and Obama is no exception. But Romney's lack of details and what few details he has given are nothing more than going back to Bush's policies. Romney has surrounded himself with the EXACT same advisors that Bush had.
"Mitt Romney says on CNN Sunday that 'something dramatic' is needed to boost the struggling economy, but he does not offer up any specifics" NY Daily News.
The last time Romney was being specific is when he said that Jerusalem is the Capital of Israel. How does that create jobs in America - outside of combat infantry and armor?
Hey Bill,
it's not "what I want", more of what I see is going to happen, and these band-aid approaches by CONGRESS, yes, it's congress that proposes, passes, and funds laws and policies in this country, not the president, will only delay such a predicted collapse.
Congress COULD do something to right the ship but that would require a lot of sacrifice and pain by ALL sectors of the population and economy, which does not appear possible given the hyper reactions by those that cuts or tax increases might affect in a negative way.
It's always "cut the other guys funds, or raise the other guy's taxes"...NOT MINE attitude that will lead to the "Greater Depression".
It is very unfair to accuse the President of overseeing the weakest recovery in U.S. history. Simply, it is factual, there is NO recovery. The anemic jobs created last month do not even keep up with the new members of our workforce. The adjusted figures will be worse. Please, please, get this Puppet out of the White House. As a democrat, I must say, Harry Truman and John F. Kennedy are turning in their graves. My, oh my what have we become?
murphy,
we need to get a lot of members of congress out as well...starting with harry reid.
Politics aside, a slow economic recovery does have benefits. One obvious example is how inflation is way lower than expected.
UTE the high unemployment is the one of tools being used to keep inflation low. You will never hear this from the controlled media or Obama, but there it is.
William,
Here is the story that ran in the L.A. Times: http://www.latimes.com/business/money/la...
You can find many others reporting it, too. I chose the reference to the Times since there is no way that paper can be said to have a right-wing bias.
Follow up reports indicate that the Fed will not take steps to address this.
stephenrblv - Rather lofty assertion without any sources to prove your point.
.....ill wait.......
boftx, I don't get what your complaining about. I've seen nobody claiming the economy is not slowing. Yes, since 2011 (when Republicans took control of the House) the recovery has slowed down. But, the good news is it is still recovering and growing. Yes, the economy is 'propped up' (rightfully so) and is very fragile currently. Rebuilding a destroyed foundation is crucial for the long term, and that takes time.
All that still has nothing to do with the point of the article that ""this is the worst economic recovery America has ever had" THAT statement is laughable as supported in the article, there have been worse recoveries from less severe downturns. Nobody, left or right, is laughing at the overall economy.
I opine that we were doing much better before Republicans stalled congress completely in 2011. There little stunt of not increasing the debt limit roiled the markets and America received its first credit downgrade in history. The House then approved the upcoming fiscal cliff, and now complains about it. Boehner and Obama reached a compromise of $4 in spending cuts for every $1 in new revenue. Boehner couldn't sell it to tea party republicans and we ended up with the so-called fiscal cliff.
The medical analogies are not without merit as we try to diagnose our situation, pinpoint the root causes, and prescribe the right medicine to survive.
What it comes down to is that when you've got a bladder infection, URINE trouble!
The tea party 'stroll' has infected our nation, the white blood cell count seems to stop any and every chance at returning to normalcy, and imho what we have here is a failure to represent the best interests of our body politic going forward. I for one am pissed.
Airweare, your definition of the problem is exactly opposite of the other sides.
The only reason you think you are right is that it suits your agenda. Our country is in trouble because ALL politicians are spending like we have an endless supply of money.
The trouble is a disfunctional government that is beholden to every special interest and lobbyist. To say its just a tea party problem identifies your tilt. BOTH sides are to blame for the quagmire.
Harry "the obstructionist" Reid is a bigger problem than any true and clear thinking person in this state is willing to admit. If Harry wants to really show how rancor the tea party is he would allow the bills passed by the House to be voted on. He won't because he is as much to blame for the problems and the tea party you vilify.
This is the first depression WHERE ALL THE JOBS HAVE BEEN SHIPPED TO CHINA!
How can you have a recovery if ALL THE JOBS HAVE BEEN SHIPPED TO CHINA?
and the rich, greedy, corporate executives make unethical amounts of money for doing this to the 99%!
American land of the "freedom" to exploit everyone.
Okay Heretic, they're all scum. Nobody will argue successfully that donkeys have THE solution. Nobody will argue successfully that TEA/elephants are God's gift to solving our HUGE problems.
We do not have an endless supply of money, but what we have is an endless debate, a growing problem and no apparent resolve within the hearts or minds of our elected representatives to rationally or reasonably address ANYTHING.
Quagmire is the right word. So are deadlock, stalemate, and utter and total waste of time, our money and energy.
No analysis or diagnosis or prescription is finding traction when sides are taken without respect for facts, and the responsibility to citizens is WAAY less important than electability and partisanship.
I say we do away with representative style government and do the legislation ourselves online as individuals, not voters supporting elected officials, but citizens voicing opinions to each other and deciding what WE the people want and need and let those career politicos get ordinary jobs like the rest of us, actually DOing something.
Honest to God, Heretic, we don't need them in the way. They represent only what the lobbyists tell them to represent; they are bought and sold; and folks like us have as much value in DC or Carson as a fart in a whirlwind.
We are bundled and abandoned as the power shifts into fewer and fewer hands.
IMHO we could do better to make our own laws, plan our own futures and have a voice in how things are going to be instead of which crook we have to choose when the choice is crook A or crook B.
But I'm standing behind my earlier statement "When you got a bladder infection, URINE trouble!"
Airweare,
I now agree with you wholeheartedly! You eliminated one pest and identified ALL THE PESTS!
Btw, your idea of online voting is near genius. They only problem is the stooges in Washington won't allow their power to be eroded.
Quagmire indeed!
This pathetic Repubican House, and a United States Senate which has become dysfuntional unless one party has 60 votes have done everything in their power to try and make this the 'worst recovery since Hoover.' Of course it is, you have one political party which has decided their view of the world is more important than their country.
President Obama is going to win this election despite Republican efforts. He has the economic facts on his side, all he has to do is remind the American people this economy, under Republican policies, was losing 750,000 jobs EVERY MONTH when he took office.
re: sounddude: review
http://en.wikipedia.org/wiki/Phillips_cu...
That is the mentality, and it's many derivatives, which drives the policies inside the beltway. Policies which assure there will not be full employment as a core guiding principle. When your goal is managing the economy for Political gain, the Phillips Curve is at the front of your thinking.
To keep inflation low in the reported numbers you need to control the amount of spendable cash entering the hands of consumers. Making sure we do not have full employment is a key factor in achieving that goal. Another way of controlling inflation is making sure when handing out money little of it ends up as spendable cash in the hands of consumers. Instead give it to banks and corporations who will sit on it. This is why Obama bailed out the banks and not homeowners.
Most of the current deficits are the result of an inflation driven GW Bush economy which has now collapsed along with those inflated tax revenue streams.
Inflation and Deficit Hysteria are at record levels these days. IMO all of it is bs in the face of what is clearly massive deflation. What they are doing is playing around with the value of the Dollar to make it appear otherwise. To make it look as if the game hasn't changed when it has in a major way.
What they will not face is the retiring Baby Boomer issues and Globalization. Or shall I say own up in public for to do so would create negative political outcomes. Instead they play these political games left over from the 1980's based on the Phillips curve and Reaganomics.
Mindless, desperate and disingenuous, Dumbocrats play the same old tune: "It's Bushes fault." Hey, get over 2000. Bush won and he served 2 terms (1 more than Osama Obama will). It's time for you fops, and Osama Obama, to "Man Up" and take responsibility for the putrid record compiled by the cretin with the Cheshire Cat grin and vacuous agenda. If by some miracle, Osama Obama is reelected, I guess we'll hear the same BS from the left for another 4 miserable and unsuccessful years: "It's Bushes fault." Wa, wa, wa. Crybabies!
Like with lifeboats, one can't save all. This recovery is aimed at protecting the interests of important campaign contributors who've been receiving the influence they've paid for.
I suggest that the path to stability, harmony and trust will be charted by those inspired by fair media, that peoples champion and conscience of nations holding history of inspiring citizens to gather overwhelming public opinion in order to force needed changes, and is recognizably absent.
Unemployment went up to 8.3. 195,000 Fewer Americans Had Jobs in July; 150,000 Dropped Out of Labor Force. Oh and The BLS "statistical adjustment" model created +429K jobs out of thin air, so the "real unadjusted July number is -266K jobs. 42 straight months of unemployment over 8%. House prices hit by sharpest drop since 2009. Gross domestic product, the broadest measure of the nation's economic health, grew at an annual rate of 1.5% from April to June. Obama: "We tried our plan, and it worked" Be that likely voter and go to the polls on November 6th 2012 and vote the Blamer/Complainer/Campaigner-in-Chief out of office!
Got a joke for ya:
What goes up, but never comes down?
Give up?
The Obama-Unemployment-Rate!!!! ROTFLOL!!!!!
Heckuva job, Oblamer!!!!
Actually the unemployment rate went from 8.217% to 8.254%. The rise is a number rounding up rather than a failed economy.
Question...Do facts matter?
Answer...Not if partisanship rules conscience, obscures reality and conflicts with personal agenda.
And after the 8 years of Bush disaster, you can blame whoever follows that as long as it takes for the economy to readjust, but you know why it is happening, don't you?
@milt1007,
Do any of you people deal in reality or just enjoy manufacturing your own misinformation?
What was the Dow Jones when Obama was elected?
What was the unemployment rate when he was elected?
How many jobs a month were lost just prior to his election and the first months he took office?
How many jobs were created when the Bush tax cuts went into effect?
We are having a slow recovery because the GOP and tea nuts refuse to compromise, deal or negotiate with this president. They are hoping the poor recovery will help them win the White House and Congress, that's the plan, plain and simple.
The only other economic disaster this country faced which was worse was The Great Depression. The country suffered through 25% unemployment and people bank accounts completely wiped out. That depression lasted well over ten years. You people ignoring American history can't see the handwriting on the wall, it will happen again because your dislike or hate of Democrats and Obama blinds you to the causes of our economic downturn.
You nay sayers are being minipulated like silly putty in the hands of those who crushed this economy, and then took advantage to increase their personal wealth.
Ya well Vernos the fact remains Obama bailed out the Banksters and left many American homeowners twisting in the wind.
Obama has also done ZERO to balance trade. Our borders are Wide Open. Just closing SOME of these gaps would chop easy 1-2% off the unemployment rate.
Obama works for Multi-National Corporations and Intl Banking interests. His policies are designed to serve their interest not Americans.
Until Liberals face those facts beating up on the stupids is pretty pointless.
The United States lost 1,200,000 jobs during the month of July. This is incredibly bad news.
Additional bad news is the Bureau of Labor Statistics (BL) may have been under direct pressure from President Obama to lie about what is really going on in our economy? The BLS released figures that said the US economy gained 163,000 jobs.
Even The Washington Post and The New York Times appear to suspect there may be some errors now inherent in calculating figures such as a gain of 163,000 jobs during the month where 1,200,000 jobs were lost. Brad Plumer of The Washington Post wrote,
As Jacob Goldstein of Planet Money points out, the U.S. economy had 1.2 million fewer jobs (pdf) in July than it did in June. But, according to the bureau, the economy still had 163,000 more jobs than one would've expected, given seasonal trends. That's a sign of a steadily recovering labor market. So BLS reported it as a 163,000 gain in jobs.
OBAMA THE JOB LOSS KING!