Tonight Barack Obama will stage yet another expensive campaign publicity stunt. This time the campaign publicity stunt is not on the basketball court or a late night TV show. The campaign publicity stunt tonight comes from Afghanistan, paid for by the American taxpayers.
Tonight’s Obama publicity stunt is yet another Bin Laden linked campaign publicity stunt on this the one year anniversary of the death of the Islamic terrorist (“Obama to celebrate rare actual accomplishment“). The Occupy White House/golf regularly publicity stunt president has the football spiked and Obama will address the nation on the Bin Laden anniversary live from Afghanistan. Should we repeat that? Obama, Afggagnistan, Bin Laden, oh my!
Tonight’s Obama campaign publicity stunt will be one of many more and is the product of many more earlier campaign publicity stunts. But these publicity stunts are not really going to matter. That’s because Mitt Romney knows IT’S THE ECONOMY.
Mitt Romney is focused on what the American people want: real, not phony, not pie in the sky, not promised, but genuine economic recovery. That’s why the manner and substance of Mitt Romney’s reply to Obama’s attempts to take credit for Seal Team Six’s courage was so spot on. Romney almost ignored the issue, declared c’mon even Jimmy Carter would have given the order to take out Bin Laden in similar circumstances, and continued to talk about the economy.
It’s the economy and Mitt Romney might be a bore but he is not stupid. Mitt Romney also knows that this election might be over on Hillary Clinton’s birthday:
“Why the presidential election could be over at 8:30 a.m., October 26
This may be as good as it gets. Sputter-speed growth of around 2% and a moribund labor market. As the above chart suggests, the recovery is losing momentum. Here’s Goldman economist Jan Hatzius:
Goldman Sachs is turning increasingly bearish on the U.S. economy, expecting the nation to have added only 125,000 new jobs in April, as the effects of a warm winter, which buoyed employment late last year, wear off.
The forecast is far lower than the Reuters estimate of 170,000, and the average 177,250 jobs created every month from December to March. According to a report by the bank’s Chief U.S. Economist Jan Hatzius, the jobs report will be a further sign of a weakening economy, where inventory accumulation has accelerated and final demand growth remains sluggish.
“Real income growth remains soft, partly because of higher energy prices, wealth effects are not yet particularly positive, consumer confidence remains modest, and again some of the recent strength in retail sales probably reflects weather effects,” Hatzius said.
Nothing new there for regular Big Pink readers. We wrote then same thing months ago and the data confirms what we wrote at the time. Hatzius is not alone. Abby Joseph Cohen agrees with Hatzius and this election will get tombstoned on Hillary Clinton’s birthday:
“Wait, the second half will be “more difficult” than the first? We might be lucky to have 2% growth in the first half. The econ team at Citigroup seems equally as sober: “The 1Q GDP data, a month of rising jobless claims, and likely back-to-back moderate gains in non-farm employment should dampen remaining optimism that 2013 would be the year of decisive growth acceleration in the U.S. Why should any other quarter in 2012 be markedly better than 1Q?”
And given the reluctance of big banks to make U.S. recession calls, I have to think that plenty of these folks are worrying we might get a negative quarter at some point this year. Imagine the political shock wave if, say, the third quarter dipped even a smidgen. To use President Obama’s favorite analogy, the U.S. economy would be back in the ditch. And that report would be released by the Commerce Department on Oct. 26, just 11 days before the election.”
Stick to the economy Mitt Romney. Let Obama continue to waste taxpayer dollars on campaign publicity stunts. Soon the bill will come due and Barack Obama will have to pay.