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"The private sector is doing fine."

You left out the rest of the quote: "But I'll get it next time, and its little dog too!"
 
From my perspective it is. Jobs are returning, foreclosed houses are being refurbished and sold, gasoline and natural gas prices are dropping, it could all happen a little faster, but with Republicans in the way, about as good as could be expected.
 
BenBurch said:
From my perspective it is. Jobs are returning, foreclosed houses are being refurbished and sold, gasoline and natural gas prices are dropping, it could all happen a little faster, but with Republicans in the way, about as good as could be expected.
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The jobs growth has really been lagging this time around. I have been through my share of recessions over the years and I have never seen a job market react like this during a recovery
 
In many ways the private sector is doing fine. Corporate profits are up. The stock market is up since Obama took office. The unemployment rate without government cuts would be 7.1%

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Ziggurat said:
Profits can rise from investment dropping. You sure this is really a sign of improvement?
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It's not a sign of improvement in the economy, but record profits are a sign that "the private sector is doing fine." Private corporations are sitting on mountains of cash. Obama can't them invest it.
 
Oh for crying in the ******* dark what more do they want? Record low tax rates, loop holes galore and record profits.... but let's cry a god damn river. Give me a break. What more do you want? Many businesses are guaranteed that uncle sam will bail out their idiotic investment and still they cry. Competition is fine and all if risk is negated by the American tax payer. **** you and the useful idiots (aka Republicans) who cry for you!
 
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BenBurch said:
From my perspective it is. Jobs are returning, foreclosed houses are being refurbished and sold, gasoline and natural gas prices are dropping, it could all happen a little faster, but with Republicans in the way, about as good as could be expected.
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So you disagree with Obama?

“It is absolutely clear that the economy is not doing fine,” Obama said in his correction. “That's the reason I had a press conference. That's why I spent yesterday, the day before yesterday, this past week, this past month and this past year talking about how we can make the economy stronger.

“There are too many people out of work, the housing market is still weak and too many homes underwater, and that's precisely why I asked Congress to start taking some steps that can make a difference,” Obama said.
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RandFan said:
Oh for crying in the ******* dark what more do they want? Record low tax rates, loop holes galore and record profits.... but let's cry a god damn river. Give me a break. What more do you want? Many businesses are guaranteed that uncle sam will bail out their idiotic investment and still they cry. Competition is fine and all if risk is negated by the American tax payer. **** you and the useful idiots (aka Republicans) who cry for you!
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Not to mention all the tax breaks that they already get, especially at the State level. Lobbyists have no qualms with saying "Give us this tax break or we will leave your town/State/nation." In Illinois, Sears pulled it off last year and still laid off employees this year. It is incredibly difficult to get taxes from them. Unionisation rates are at extreme lows and trade is duly liberalised. We are hardly in a leftist dystopia.
 
Unabogie said:
You just conflated the private sector with the overall economy. Was that on purpose?
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Oh, I see, I missed Obama's real quote:

“There are too many government people out of work, the public housing market is still weak and too many government homes underwater, and that's precisely why I asked Congress to start taking some steps that can make a difference,” Obama said.
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Puppycow said:
It's not a sign of improvement in the economy, but record profits are a sign that "the private sector is doing fine." Private corporations are sitting on mountains of cash. Obama can't them invest it.
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Do you think the term "private sector" only refers to corporations? Because I don't. Nor do I think most Americans. I think most Americans believe that the private sector includes people who are employed (or seeking employment) by non-government employers. And they aren't doing so well.

As for those mountains of cash, yes, Obama can't make them invest (I presume that's what you meant), but he can discourage or encourage investment. I think he has done the former, not the latter.
 
Ziggurat said:
Do you think the term "private sector" only refers to corporations? Because I don't. Nor do I think most Americans. I think most Americans believe that the private sector includes people who are employed (or seeking employment) by non-government employers. And they aren't doing so well.

As for those mountains of cash, yes, Obama can't make them invest (I presume that's what you meant), but he can discourage or encourage investment. I think he has done the former, not the latter.
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Yeah that's what I meant. Careless typing.

Look, I understand he made a gaffe. It doesn't sound good, but I'm just trying to point out what he meant to say. Compared to the public sector, the private sector is doing relatively well.

As far as whether Obama has done anything to discourage investment, I don't see it myself. I think that people aren't investing because they're worried about the economy. They're worried about Europe especially.

Obama is not the "radical leftist" that Newt Gingrich claims he is. He's actually quite business friendly.
 
It is absolutely clear that the economy is not doing fine,” Obama said in his correction. “That's the reason I had a press conference. That's why I spent yesterday, the day before yesterday, this past week, this past month and this past year talking about how we can make the economy stronger.
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That's going to bite him in the ass later on. Not only did he say that the economy isn't doing fine less than six months before reelection but he also said that he has no answer on how to get it going even after working on trying to find a solution day in and day out for a year.

If I were running against any politician that said that I'd be going at him along the lines of:

As a general rule of thumb sitting presidents don't say that the economy isn't doing fine. They say something along the lines of "The economy is doing fine but could be doing better because (insert something here about not alarming the markets or whatever)". They sure as hell don't follow that up in the same statement by admitting that they have no answers on what to do about a domestic problem after looking at it and trying to solve it for a year. Especially not by a President who ran on being strong on domestic policy.

And this was a correction so you can't simply write it off as a gaffe or an off the cuff statement. He's been the President for over three years now and he said that he can't do the job.

Anyway, that's what I'd do and I think that this comment will be coming up during the election campaign and debates. Often. It'll be interesting to see how he handles it.
 
DavidJames said:
I'm pretty close to reporting this for spam. Seriously.
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I'm not sure how it's spam. I'm in the private sector and, like Ben Burch noted in his post above mine, from my perspective the private sector is doing fine.

As Brainster pointed out, however, within just a few hours of assuring everyone that "the private sector is doing fine," Obama reversed himself to tell us that "it is absolutely clear that the economy is not doing fine."

For the reasons I've outlined above, I think Obama is wrong. I think things are "fine." I suppose things could be even "finer" with another round of quantitative easing to "stimulate" the American peso ... I mean dollar ... some more, but that's probably too much to ask.
 
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MG1962 said:
The jobs growth has really been lagging this time around. I have been through my share of recessions over the years and I have never seen a job market react like this during a recovery
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The president's point though was that it's the loss of public sector jobs that is keeping unemployment so high. The private sector has consistently been adding jobs. As Obama said, it has been doing so at a better rate than the last recovery.
 
shuize said:
As Brainster pointed out, however, within just a few hours of assuring everyone that "the private sector is doing fine," Obama reversed himself to tell us that "it is absolutely clear that the economy is not doing fine."
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Except it's not a reversal--not unless you think "private sector" is equivalent with "the economy".
 
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