President Lyndon Johnson once reportedly watched a news story by Walter Cronkite that was particularly critical to his administration’s handling of the war in Vietnam. He was quoted as saying to a staffer, “If I’ve lost Cronkite, I’ve lost Middle America.”
Obama has lost Newsweek. What does that say about about Middle America?
Well, okay. He hasn’t exactly lost Newsweek in it’s entirety. I’m sure the commie rag will be back to hailing the anointed one next month. However, an article critical of the Messiah of the left has made it onto the front page that calls for an ousting of this failed executive. This is a turn of events that would have been unthinkable four years ago during the height of Obamamania and the endless, trite cries of “Yes, We Can.”
On the cover of Newsweek that has been released this week, a picture of a snide Obama is captioned with “Hit the Road, Barack: Why We Need a New President.”
You may remember Newsweek as the unabashed cheerleader of all things liberal. They have received criticism in the past for calling Mitt Romney a “wimp” on the cover and for hailing Obama’s “bravery’ in championing gay marriage by calling him, “The First Gay President” as if he was some honorary member of a club. You may also remember them as the magazine that put a wretched picture of Michelle Bachmann on the cover that made her look like she would eat your children, captioned by the words “Queen of Rage.”
The article is written by former McCain adviser Niall Ferguson. While he may not be the strongest example of die hard, conservative thinking, he made many hard-hitting points that show the lack of progress of this administration in almost irrefutable terms; he has let the numbers speak for themselves. He wrote,
“In an unguarded moment earlier this year, the president commented that the private sector of the economy was ‘doing fine.’ Certainly, the stock market is well up (by 74 percent) relative to the close on Inauguration Day 2009. But the total number of private-sector jobs is still 4.3 million below the January 2008 peak. Meanwhile, since 2008, a staggering 3.6 million Americans have been added to Social Security’s disability insurance program. This is one of many ways unemployment is being concealed.
In his fiscal year 2010 budget—the first he presented—the president envisaged growth of 3.2 percent in 2010, 4.0 percent in 2011, 4.6 percent in 2012. The actual numbers were 2.4 percent in 2010 and 1.8 percent in 2011; few forecasters now expect it to be much above 2.3 percent this year.
Unemployment was supposed to be 6 percent by now. It has averaged 8.2 percent this year so far. Meanwhile real median annual household income has dropped more than 5 percent since June 2009. Nearly 110 million individuals received a welfare benefit in 2011, mostly Medicaid or food stamps.
Welcome to Obama’s America: nearly half the population is not represented on a taxable return—almost exactly the same proportion that lives in a household where at least one member receives some type of government benefit. We are becoming the 50–50 nation—half of us paying the taxes, the other half receiving the benefits.”
When even Newsweek gives up space in their magazine to dedicate to an honest critique of your failed, liberal economic policies, it’s time to reconsider how many friends you really have left. As the cries for “Yes, We Can” and “Hope” and “Change” die down to a whisper and such calls serve as a sad parody of the hope people on the left once had, it signals choppy waters ahead for the biggest flop since Ryan Leaf.
In just a few paragraphs, Ferguson succinctly outlined the colossal failure that is the Obama administration’s economic policy. While even I will admit that it would have been unfair to demand significant change within only months, we are four years down a bad path, worse for wear for having spent trillions of dollars we didn’t have to stimulate a economy hobbled by restrictive economic policy, and we need to ask ourselves: at what point to do we cut our losses and admit that this isn’t working?