New York Times’ Front Page Lead September 5:
“Clinton Urges Second Term to Let Obama Finish Job”
September 7: The Labor Department reports that the percentage of Americans who either have a job or are looking for one, last month, fell to the lowest level since 1981.
September 7: Intel reports that demand for its chips has declined as customers reduced inventory. The company’s full-year capital spending is now expected to be below even the low end of its previous forecast. The company withdrew all other quarterly and full-year expectations.
President Obama, speaking at the Democratic National Convention, told the crowd, “Our problems can be solved.” Mr. Obama wants to be granted four more years.
The economic headlines above and my exhibits below indicate that America most certainly cannot withstand four more years of Obama leadership.
Under Barack Obama’s leadership, badly needed fixed-capital investment (chart below) has rebounded. If you look hard, you can see the rebound, can’t you? What a cratering during the Obama administration’s sad stay at the helm. I have been advising small business owners for nearly five decades, and never has this sector looked as bad.
The ISM index of manufacturing new orders is a fair gauge of momentum in the manufacturing sector. Presidents Obama and Clinton want four more years to finish the job. Extend the ISM trend for four more years at the current rate of decline, and where do you think the unemployment rate will be?
No indeed, no more time remains on the Obama clock. The Obama goose is cooked and in fact well over cooked. America’s small business owners create the majority of new jobs, and our job creators are very much on strike!
Washington needs a complete makeover. Is the American voter up to the task?