Actually, the Obama administration admits to one mistake. I'm not going to take a lot of time to discuss the Shirley Sharrod episode, because that is an actual distraction of what is really going on in America.
During the so-called summer, the Obama administration is trying to propagandize their accomplishments with the economy. And having done, we need distractions so that there is not a lot of time to examine the actual facts.
The Recovery Act has been a dismal failure. Spending $1 trillion that we did not have as added to the gross domestic product, but has not created jobs. The administration has been totuing that it has created or the qualifying "saved" 2 million jobs. Yet the closely watched unemployment rate has been hovering above 9% for 18 months. Even according to government economists, the employment rate will be at or above 9% for the next 18 months. How's that hope and change thing working out?
Sensible spending is another area of great failure for the Obama administration. Since finding out that the president can spend money without limit, he has. Spending money any and everywhere is the administration's plan to convince people that the economy is getting better. Have you been persuaded?
Passing healthcare regulations and financial reform has caused more uncertainty in the economic outlook. Even Fed Chairman Ben Bernanke has called the future unusually uncertain. That certainly is going to instill a great deal of confidence by investors to prevent a double dip recession. This should concern us all if we have any plans of seeking a sound retirement. Because of this financial reform bill, the days of getting a sound retirement are gone. Now days, if you get above 2%, you're really raking it in. Even during the Bush years, we were able to average 8 to 12%. Think Obama, 1% or below is the norm.
If we are to remember the worn-out rhetoric that the president has told us, everything is fine in America. Obama says he would not rest until every one who is seeking a job has one. Obama said he would not rest until the oil crisis in the Gulf had been stopped and cleaned up. Well, I don't recall hearing that these problems are solved, yet I do hear that Obama is taking a vacation. Liberals and progressives alike are coming to his defense saying that he is earned a well deserved vacation. My point is not to argue to the contrary, don't throw out a bunch of phrases that are meaningless if you're not going to live by them yourself. America was led to believe that an Obama administration would mean more transparency, better action, and strong results. I have yet to see any of these.