Each new day seems to bring further evidence of the unremitting failure
of President Barack Obama’s economic and foreign policies. Yet the
presidential contest remains even, due in large part to Republican
presidential candidate Mitt Romney’s failure to articulate a specific
economic reform agenda and to the mainstream media’s obsession with what
Obama-friendly commentators see as Romney’s gaffes.
The media narrative is Romney has had a bad
couple of weeks with less-than-artful or ill-timed remarks about the
growth of government dependency and Obama’s failed foreign policy.
Still, Obama has had his own bad couple of weeks, on the economic front
as well as abroad — though the media haven’t spotlighted it as they have
with Romney.
New Census Bureau figures show median household
income fell or was flat last year in 37 states — mirroring data released
a week ago showing national median household income is down to
mid-1990s levels. This drop came amid the Obama recovery, the weakest
rebound from a recession in modern history.
Another report filled in details behind the
nation’s persistently high unemployment, 43 months above 8 percent.
Small businesses are a prime generator of jobs, yet fewer new firms are
being established. According to the Bureau of Labor Statistics, the
number of startups peaked at 667,000 in 2006 and has declined ever
since, reaching 548,000 in 2009 and dropping again to 505,000 in 2010,
the first full year of the recovery.
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