Every administration has had its “spin doctors” who massage every bit of news to make the president look good. If this administration’s spin doctors would work with wool rather than information, we would have something positive to show for the effort besides lies, which don’t have much lasting value.
First let’s look at the economy. Al Sharpton has joined the ranks of the economic spin doctors with his recent praise for the president’s efforts to build the now booming economy. Most of the numbers released by the administration are questionable or judiciously have excluded facts they don’t like. That is the way of spin doctors. Millions of people have dropped out of the work force (those actively looking for employment) because they have given up looking for a job. These people are not counted in the unemployment percentage number. The population of people coming of age to work, not including illegals, has continued to grow faster than job creation.
Wages have not keep pace even with a low rate of inflation which also excludes the increasing cost of many items that routinely are part of the cost of living. Wages increase when there is a competition among employers for workers. Without an increasing demand for workers, wages will remain depressed. Many Americans with jobs today are working far below their skill levels. Just check with college graduates over the last six years. Instead of one career job with good wages, many Americans are working two or three part-time jobs. How does that show up in figures that measure the economy?
The last argument progressives turn to is the growth of the stock market and the wealth it has brought to the economy. This is more spin. The stock market and the general economy where Americans mostly get their income are not closely linked. Only those wealthy enough to participate in the stock market have done well. Wall Street has benefited by the 80-plus billion dollars per month the Federal Reserve has pumped into the financial world. It is only now starting to taper off this incredible example of Keynesian economics whose primary tenet is that a nation can spend enough to enrich the general economy or increase the output of goods and services. This financial ideology has never worked to get a nation out of debt or increase its Gross National Product (GNP). High taxes, government deficit financing, and over regulation all depress economic activity.
Are things better for most Americans right now? Yes! But Obama and his administration had nothing to do with the improvement. Thank Saudi Arabia, which increased its pumping of oil to glut the market and force down the price of energy, mostly clearly seen at the gas pump. The Saudis have not increased their pumping and marketing of their oil to help us. They are doing this for their own national interests. A motivation this administration doesn’t seem to understand. The Saudi increased production to punish their competition that has sharply increased the world’s supply of oil and depressed the price of a barrel of oil far under the former OPEC price. The Russians, the Iranians, ISIS, and the United States are the culprits in the eyes of the Saudis. By bankrupting or punishing these over producers they hope to insure their long-term dominant share of revenue from the sale of oil on the world market. The Saudi strategy is working. The Russians, Iranians, and ISIS are suffering as well as some oil-producing companies in America.
The bargain price of fossil fuel energy is what is improving the American economy. That and the promise of a Republican-controlled Congress that might produce tax reform, the Keystone Pipeline, a cut in government size and spending, and a commonsense approach to the over-regulation of the current administration. Live in hope.
Written by the author of the Jack Brandon thriller/mystery novels and “Insights: Transforming America — Is This What We Fought For?” available now as an ebook, in paperback or hardcover on Amazon.com or BN.com. Another analytical book on the transforming process, “Insights: Stepping Stones to Tyranny,” is now published and available in paperback at $9.95 and on nook and kindle at $6.99. Follow the author on Twitter @factsfictions80.