More Like Kryptonite
Karen Buttitta’s letter about a cartoonist’s depiction of a weakened “Obama Superman” for his economic performance (May 27) is misplaced. The cartoonist simply forgot to offer support that the economy has been Obama’s kryptonite.
She cites a rising S&P Index, housing stabilization and “job creation” as supporting evidence for Obama’s prowess in the economic recovery.
Really? A rising stock market doesn’t necessarily reflect an improved economy. For example, from July ’32 to July ’34 the Dow Jones Index rose 130 percent. At the time we still faced six more years of the Depression.
On the housing citation, many knowledgeable economists are now looking at a possible double dip in housing. Finally, any jobs created over the last year have failed to even match the number of new job seekers entering the market. Hence, unemployment hovers at 9 percent.
Here are some additional economic statistics since Obama took office: Food stamp recipients up 35 prcent; poverty rate up 10 percent; long-term unemployed up 150 percent; national debt up 32 percent. That’s kryptonite on steroids.
It is particularly interesting that prior to the taking out of bin Laden most political pundits rated Obama lower on international performance than on economic performance.
Does a single success in the international arena warrant the change? Perhaps we should ask the Israelis, Poles, Czechs, British, French, Germans and Saudis for their take on “Superman”’s performance.
Michael J. Keogh
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