Video: President Obama says “the private sector is doing fine.” Now I understand why 23 million Americans are still without a job! Our President is clueless!

President Barack Obama may have doomed his chances for a second term as President of the United States today because of a remark he made during a press conference at the White House today on June 8, 2012:

President Obama: The truth of the matter is that, as I said, we created 4.3 million jobs over the last 27 months, over 800,000 just this year alone.

The private sector is doing fine. Where we’re seeing weaknesses in our economy have to do with state and local government. Oftentimes cuts initiated by, you know, Governors or mayors who are not getting the kind of help that they have in the past from the federal government and who don’t have the same kind of flexibility as the federal government in dealing with fewer revenues coming in.

Duh?! Does Marie Antoinette’s remark dismissing the starvation of millions of Parisians, “let them eat cake”, ring a bell?
“The private sector is doing fine”?!?! The world renowned economist, Paul Krugman, recently characterized our economic situation as a “depression”, and our President says during a White House briefing today that the private sector, the business sector, is doing fine, has created sufficient jobs for the 23 million Americans who are unemployed?!?!

Is this the Presidential gaffe that dooms President Obama’s prospects for re-election this November? Do you recall that other great Presidential gaffe back in 1976, when President Gerald R. Ford declared in response to a question from the New York Times’ Max Frankel, “There is no Soviet dominance of Eastern Europe”?

That remark cost President Ford his chances for re-election in 1976. All Republicans need to do after their convention this summer is just keep showing on television a video of President Obama saying over and over again, “The private sector is doing fine.” To make such a remark when 23 million Americans are out of work shows just out of touch President Obama is with the economic struggles of lower and middle class families and explains why his economic policies have failed over the past three and one-half years. Bolder, more aggressive, economic policies in 2009 when the President had a sufficient majority in Congress would have created a much better economy and employment situation in the United States today than the depression we now find ourselves in and from which we cannot escape.

No, Mr. President, the private sector is not doing fine. Perhaps if you had not surrounded yourself with economic advisors from Wall Street, like Larry Summers, Timothy Geithner, Lew Jacobs, et al, and had listened to the voices of labor, like Robert Reich, Paul Krugman, et al, the private sector would be doing much better, and real unemployment would not be around 20%.

It’s deja vu all over again:  Marie Antoinette, Gerald Ford, Neville Chamberlain….now, Barack Obama….

The Barefoot Accountant
Accountants CPA Hartford, Connecticut, LLC
Certified Public Accountant
Certified QuickBooks Advisor

About William Brighenti

William Brighenti is a Certified Public Accountant, Certified QuickBooks ProAdvisor, and Certified Business Valuation Analyst. Bill began his career in public accounting in 1979. Since then he has worked at various public accounting firms throughout Connecticut. Bill received a Master of Science in Professional Accounting degree from the University of Hartford, after attending the University of Connecticut and Central Connecticut State University for his Bachelor of Arts and Master of Arts degrees. He subsequently attended Purdue University for doctoral studies in Accounting and Quantitative Methods in Business. Bill has instructed graduate and undergraduate courses in Accounting, Auditing, and other subjects at the University of Hartford, Central Connecticut State University, Hartford State Technical College, and Purdue University. He also taught GMAT and CPA Exam Review Classes at the Stanley H. Kaplan Educational Center and at Person-Wolinsky, and is certified to teach trade-related subjects at Connecticut Vocational Technical Schools. His articles on tax and accounting have been published in several professional journals throughout the country as well as on several accounting websites. William was born and raised in New Britain, Connecticut, and served on the City's Board of Finance and Taxation as well as its City Plan Commission. In addition to the blog, Accounting and Taxes Simplified, Bill writes a blog, "The Barefoot Accountant", for the Accounting Web, a Sift Media publication.
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One Response to Video: President Obama says “the private sector is doing fine.” Now I understand why 23 million Americans are still without a job! Our President is clueless!

  1. Bruce says:

    “Merely” a Bush-HOG stick of the lips! : Bourgeois American Tahirists – Haltung der Fuehrerward Obamanable ASSAULTS on US ALL!! ObummerOff the BushWar ASSASSIN Terrorist, INSTEAD!!!

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