IBD editorials ^ | june 11, 2012
Leadership: An incoherent press conference and contradictory explanation show that if the president thinks the answer to job-killing federal policies is boosting state and local governments with borrowed money, we're really in trouble.
'Tone deaf" fails to describe President Obama's statement at Friday's press conference that "the private sector is doing fine," when median income is down 10% in three years, family net worth has plunged 39%, 23 million Americans are out of work and the official unemployment rate tops 8% for the 40th month in a row, the longest sustained period at that level since the Great Depression.
Mitt Romney's charge that the president is "out of touch" might be more accurate, but we would prefer "clueless."
Then came the walk-back at a later press event: "It is absolutely clear that the economy is not doing fine. That's why I had a press conference," Obama explained to those who were wondering, and as if the two statements did not contradict one another. Cognitive dissonance has been redefined.
Lost in the commotion caused by the dueling teleprompters was the president's suggestion that, aside from job-killing ATMs, the economy was in the tank because state and local governments weren't big enough and spending enough.
(Excerpt) Read more at news.investors.com ...
