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Bad news on jobs weakens Obama’s election argument



Published: Sat, June 2, 2012 @ 12:00 a.m.

Associated Press

CHICAGO

The suddenly dismal news on American jobs is a blow to President Barack Obama’s re-election argument that he has been a steward of recovery. It’s heightened White House anxiety over global threats to U.S. economic growth — and the president’s political prospects, too.

The economy, Obama conceded Friday, “is not growing as fast as we want it to.”

Taking a harsher tone, presumed Republican rival Mitt Romney declared that the country appeared to be “moving backward.” He sought to drive home a political point from the nation’s first increase in joblessness in almost a year.

After a winter when the job trends were in his favor, Obama has been forced onto the defensive by three months of lackluster to dismal growth. Confronted by Friday’s report of a feeble 69,000 new jobs and an uptick in unemployment to 8.2 percent in May, Obama vigorously renewed his demand that Congress step up and enact some of his jobs proposals.

Calling the Eurozone’s debt crisis a “shadow” hanging over the U.S. economy, Obama made his most urgent plea yet for measures that he said would “serve as a buffer in case the situation in Europe gets any worse.”

Later Friday, speaking to donors at a fundraiser, Obama said: “Europe is having a significant crisis in part because they haven’t taken as many of the decisive steps as were needed to deal with the challenge, and that’s weakened Asia, and that means it’s harder for our exports. All this stuff makes a difference in the global economy.”

The jobs numbers, issued early every month, have become the year’s dominant economic barometer, a baseline from which to gauge Obama’s and Romney’s political fortunes in an election that rides on the pace of a post-recession recovery.

Romney, responding to the first jobs report since he effectively clinched the GOP presidential nomination, called the figures “devastating news.”

In an interview Friday with CNBC, Romney said that Obama’s policies and his handling of the economy had “been dealt a harsh indictment.”


Comments

1Knightcap(682 comments)posted 2 years, 1 month ago

I didn't know he had an argument to begin with. There is no corrective action taken to stop the deficit that grows every minute he's out campaigning. I don't know even if a smart business man like Romney can reverse this deficit that Obama ignores. When Romney gets elected I hope he can a least put the brakes on this out of control spending.

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2cambridge(2972 comments)posted 2 years, 1 month ago

27 straight months of job growth.

In 3 1/2 years more jobs were created during the Obama administration than the 12 years od both bush's administrations combined.

F&E....vote for romney, he's a guy that made a living by cutting workers pensions, health benefits, wages and ultimitly their jobs for the almighty bottom line.

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3valleyred(1094 comments)posted 2 years, 1 month ago

Cambridge... Obama stands no chance running on his record on the economy.

NO CHANCE.

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4unhappyvoter1(87 comments)posted 2 years, 1 month ago

Will continue to support Obama. Do you think for one minute that any republican care's about the middle class or the poor?? They made sure unemployment was cut when so many people need it to just put food on the table. How do you expect Obama to clean up the mess the republicans made in eight years....please don't make me laugh. I really pray for our country because the selfish rich people only care about their families and we need to care about every family in order to make it in this world. Good Luck Obama.

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5cambridge(2972 comments)posted 2 years, 1 month ago

valleyred.....I wish you were my bookie.

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6AnotherAverageCitizen(1174 comments)posted 2 years, 1 month ago

Williard has made a living, a great living by firing people, closing businesses. He should be happy with what is going on.

If anybody thinks Willard is running for President to help yhe 99%, you are surely mistaken.

Willard started Obama care in Mass. Now that Obama enacted it for the USA, Willard just wants to appease his 1% and destroy Obama Care.

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7UticaShale(850 comments)posted 2 years, 1 month ago

The era of community organizing has past.

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8greene(167 comments)posted 2 years, 1 month ago

Muslims, around the world have a bad record running economies. Exhibit A, BO

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9Peregrine(47 comments)posted 2 years, 1 month ago

@Cambridge--if there are so many jobs available, why is it that the Sunday help wanted ads in the Vindicator have shrunk to one sheet--which also includes ads and personals. This is the fewest number of ads for the last 20 years. Every time someone mentions the recovery, I look at the classified section and see no change. If there is any glimmer of hope of job creation, it's due to the Utica shale speculation not anything the current administration has done.

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