Morning Joe Charts – Economy Under Obama
So tonight’s Presidential Debate (the 3rd of 3) is about foreign affairs and foreign policy. It is a very difficult debate for Romney for 3 reasons: his lack of foreign policy experience, his awkward handlings of multiple issues related to foreign affairs (ie: London Olympics, the knee jerk reaction to Benghazi, and his rhetoric describing nations like Iran and Russia and China), and of course the fact that it is very difficult for a challenger to debate a sitting President on foreign affairs.
With all of that in mind we need to remember that most voters are going to vore more so on the the state of the economy and their feelings about who will be better for it. Many polls have said that people have more faith in Governor Romney on the economy, but their does seem to be some division. With all of that said, here are some charts about the jobs numbers during President Obama’s tenure in office. I find them more impressive than some, but I can’t help but think about the unmitigated disaster that he was in charge of helping us avoid (not to say that things haven’t been rough.
I think that the best chart for an affirmation of the President’s record is the first chart on Real GDP, and the way that it shows a steady rise, which to me represents economic growth less based on bubbles that we have faced over the last 30 years with under-regulated markets. On the other hand, I think that the chart that is the most devastating for the President is the third chart measuring Real Hourly Earnings. This chart, which I posted about in a previous post regarding Steve Rattner’s analysis, is apparently a stronger predictor of re-election viability. This of course is not exactly a full scale quantitative study due to the small number of re-election campaigns we have to compare to, and the fact that only those of FDR had comparable economies. Also, if we were to vote according to whether or not a President helped us make more money at our job we would need to have a really detailed conversation about what our expectations for a President really are… Can a President really do that? And for my conservative friends out there who just said yes, I would like for you to then explain to me why Romney says that the government can’t create jobs, or make jobs better (aka: government needs to just get out of the way). I just don’t see how that could actually help people make more money. If anything I think that if the third chart is really indicative of how this election will turnout I think it would be very likely to indicate that the voters simply want to have their cake, and eat it too.
So, the analysis isn’t perfect, but I do think that it is very important to pay attention to trends that we can find. We need a national mirror, and sometimes charts such as these can at least be a play the part of a reflective window that we walk past to get a glimpse at our countries face.
What do you think?