President Obama sought to do Ronald Reagan one better during an appearance on 60 Minutes Sunday, asserting that Americans were better off than they were six years ago, as opposed to Reagan’s four.
Obama, in a delusional mood, offered up a litany of benefits he thinks his purview over the economy has wrought.
When I came into office, our economy was in crisis. We had unemployment up at 10 percent. It’s now down to 6.1. We’ve had the longest run of uninterrupted private sector job growth in our history. We have seen deficits cut by more than half. Corporate balance sheets are probably the best they’ve been in the last several decades.
We are producing more energy than we had before. We are producing more clean energy than we ever had before. I can put my record against any leader around the world in terms of digging ourselves out of a terrible, almost unprecedented financial crisis.
Ronald Reagan used to ask the question, “Are you better off than you were four years ago?” In this case, are you better off than you were in six? And the answer is, the country is definitely better off than we were when I came into office, but now we have to make…
In the video below, he looks defensive which, of course, he should be.
Unemployment has declined so much because people have taken themselves out of the workforce. The deficit remains at historic highs, and he’s added more than $7 trillion in debt. The failure to enact entitlement reform ensures the balance sheet will get much worse. Economic growth remains slow and unpredictable.
And people don’t feel any benefits because incomes are stagnant, which Obama acknowledges. But there’s a solution to that: Raise the minimum wage!
If we raise the minimum wage, if we make sure women are getting paid the same as men for doing the same work, if we are rebuilding our infrastructure, if we’re doing more to invest in job training so people are able to get the jobs that are out there right now, because manufacturing is coming back to this country.
Lowering taxes and reducing regulation, which under Reagan helped set off a quarter century of strong economic growth? Not in the cards.