The lead editorial in Raleigh’s News & Observer hits the nail on the head this morning when it says the following about the state of the U.S. economy:
“The recovery from the Great Recession appears to be getting stronger on the eve of Christmas. Alas, politics has dampened the enthusiasm of some Scrooges, President Obama’s critics, who can’t take “yes” for an answer.
As one liberal commentator noted, if this were the second year of a Mitt Romney presidency instead of the sixth year under President Obama, there would be parades in the streets and praise for the president from some of Obama’s perennial critics.
But the facts are the facts. And they’re mostly good.
In November, the Bureau of Labor Statistics estimated, there were 321,000 jobs created, an astounding number. Unemployment is down. The gross domestic product grew at 5 percent, on an annual pace, in the third quarter of this year, the biggest advance since the third quarter of 2003. Consumer and business spending are up.
And as Americans take off on their holiday travels, they’ll see lower gas prices.
And by the way: When the president was formulating the Affordable Care Act, Republicans predicted catastrophic consequences for the economy, with a federal deficit certain to explode. The deficit is down.”
The recovery has started to spread to North Carolina too, of course, and while things have a LONG way to go, there is cause for optimism. As was noted in this story earlier this month, however, the folks on Right-Wing Avenue have taken things to laughable extremes with their absurd attempt to blame every bad thing in the state economy on President Obama and attribute every improvement to Governor McCrory. As we noted in December:
“Given [the still] sobering backdrop, it ought to go without saying that it will take much more than a few doses of laissez faire, ‘trickledown’ economics and some cheerful marketing to turn North Carolina’s economy around. This has certainly been the lesson at the national level where, if there was ever any hope of doing more than ending the recession and bringing about a true middle class economic renaissance, it is now clear the half measures fashioned by the President and a mostly stubbornly resistant Congress have failed to deliver it.
Unfortunately, for some time now, it’s been clear that North Carolina leaders are unwilling even to advance a state-level version of the President’s quarter-of-a-loaf recovery plan. Instead trickledown tax cuts, privatized/crony-ized business recruitment efforts and an unending stream of positive spin from the McCrory administration and its cheerleaders appear to be the extent of the conservative economic plan.”
Let’s hope the New Year brings some honesty to assessing the situation, which, truth be told, is closer to the opposite of what the Obama haters describe.