Some of his statements:
Last year the economy grew at a rate of 1.1 and we generated about 150,000 jobs a month. No one thought that was a good year. …If anything goes wrong, we do go back into recession. …I think it’s a pretty fragile situation. …This is a very, very weak recovery. …We should be adding 250,000, 300,000, 400,000 jobs a month, which we would be if the economy was growing faster.
A caller remarked:
If President Obama is trying so hard, why have we not had a budget?
The President talks about saving the automobile industry. What about the bond holders that were swept under the rug and lost all their money because all the money was given to the unions?
Mr. Pethokoukis commented that the President will be coming out with a plan today to extend the Bush tax cuts on taxpayers earning less than $250,000. Mr. Pethokoukis pointed out that the plan the President is proposing represents a $70 billion tax increase on those earners, many of which are small business owners. There is no way that helps the economy.
Mr. Pethokoukis also reminded us that during the 1983 recovery from the Jimmy Carter recession, we have one month where the economy gained one million jobs. A recovery after a severe recession should post that kind of numbers—not the numbers we are currently seeing.
Don’t be fooled by the campaign rhetoric—the Obama economic plans have not worked.