Obama finally admits that the economy has only just started to recover. This means that despite the fact he proclaimed the economy as improving over the past few years, it hasn’t been. And he knows it.
President Barack Obama’s second inaugural address on Monday was mostly what one would have expected: A paean to the wonders of statism and how great America could be if we would just overcome our unhealthy legacy. In Obama’s world, we would all be so much better if we could get over obsessions like rugged individualism and the true meaning of the words contained in our nation’s Constitution, and let a benevolent, all-knowing government take more control over our everyday lives.
But in the midst of his “we know better” exercise, Obama made the most stunning admission of abject failure I have heard a president utter in my lifetime.
What really happened is that despite the plan’s passage (actually, largely because of it), the unemployment rate hit 10 percent before 2009 was even over, stayed above 8 percent for a post-World War II record 43 months, and is still at 7.8 percent. The
Now, after all of that ruinous stimulus, the best our president can say is: “An economic recovery has begun.” It’s almost as if he wants us to believe that this strange, uncontrollable beast called the economy has finally decided to get better on its own.