It should be clear by now that Barack Obama will not be running for a second term based on his record over the past four years. After presiding over the weakest economic recovery since the Great Depression, with a wreckage of still-high unemployment, reduced incomes, increased poverty and continuing home foreclosures in his wake, Mr. Obama’s re-election campaign won’t be running “morning in America” ads this year.
The kind of campaign he will be running became clear in his campaign speech at a community college in Ohio Wednesday when he leveled this personal jab at former Gov. Mitt Romney: “I wasn’t born with a silver spoon in my mouth.”
It was a dirty, below-the-belt swipe unbecoming of the high office to which he was elected.
For the record, The Washington Post points out that Mr. Romney and his wife “did not inherit their wealth.” He earned his fortune by working at Bain Capital as a venture-capital investor who took small startup businesses and turned them into successful, job-creating enterprises.
With Mr. Obama’s job-approval scores running in the mid-40s, and with him trailing Mr. Romney in the polls, the president and his advisers think his only chance to avoid becoming a one-term president is to take the low road. In fact, as low as possible.
He knows he can’t run on stronger economic growth and plenty of jobs - not with the economic growth rate at a mediocre 2 percent or less or with an unemployment and underemployment rate of 15 percent.
Four years after the recession started, “there are still almost 24 million Americans unemployed or underemployed. That includes 5.6 million who are long-term unemployed for 27 weeks, or more than six months, the highest since the Great Depression,” economist Peter Ferrara writes.
He can’t run on cutting the monster $1 trillion budget deficits in half or reducing the government’s ballooning $15 trillion-plus debt as he promised in 2008. His budget deficit this year will hit another $1.2 trillion, and the debt will climb to $16 trillion by December, the Congressional Budget Office predicts.
He has no plan to rein in spending and put the nation’s fiscal house in order, and the Democrats who control the Senate have refused to act on a budget for the third year in a row.
Meantime, he remains a disinterested bystander in the budget stalemate, preferring to demagogue the House-passed Republican budget for political gain, hurling one patently untrue charge after another.
The House budget sets overall spending limits for broad areas of the government, and then appropriations panels write specific funding bills for each department, agency and program within those limits. But first a budget must be passed.
In his campaign speeches, Mr. Obama has been applying the broad spending limits to specific programs of his choosing, estimating huge cuts for job training, poverty programs and student loans when no such cuts have been proposed.
“There is not a single statistic in the president’s speech that is accurate,” House Budget Committee Chairman Paul Ryan told an event hosted by the American Spectator on Wednesday.
“It’s hard to compete with somebody who is not anchored in the truth,” Mr. Ryan said.
Moreover, Mr. Obama hasn’t had much to say about his widely unpopular health care law, either, even though it’s the centerpiece of his domestic agenda.