Juan WIlliams writes: President Obama may be “on to something” with his statements that echo President Ronald Reagan’s famous question that asked voters if they are better off than they were four years ago.
Reuters has confirmed the president’s claims on the economy, and it’s lasting longer than average. “‘On Obama’s watch, 5.1 million jobs have also been added to payrolls, the S&P/Case-Shiller national home price index is up about 17 percent and the S&P 500 stock index has more than doubled while hitting all-time records,'” Williams quotes the report as saying.
According to a Kiplinger economic outlook, Williams says, the nation’s economy “looks better than was previously thought, setting the stage for more sustained growth in coming months.”
In addition, Williams notes, the unemployment rate has been lower for the past five months than during the last five years, and is now at 6.1 percent. Meanwhile, the Dow Jones industrial average is near an all-time high, now regularly closing at over 17,000 points.
Consumer confidence is also up, said Williams, to its highest point in nearly seven years.
Obama said on CBS’ “60 Minutes” Sunday that he plans to spend the weeks before the November midterm election campaigning for Democrats on his economic record, and that he would put it “against any leader around the world in terms of digging ourselves out of a terrible, almost unprecedented financial crisis.”
Obama admits that Americans aren’t feeling the recovery, and blamed that on incomes and wages that are not increasing. That problem can be addressed through Democratic policy, said Obama.
The president’s job approval, when it comes to the economy, has a negative ranking, with RealClearPolitics showing that 55 percent of Americans disapprove of the president’s handling of the economy, with 40 percent approving. The economy is the top issue to voters, Williams said, so Democrats will need to work to turn the negative numbers around.
Americans have a low opinion of the economy because median household incomes have fallen by some $2,100 during the president’s first term in office, according to Census Bureau figures.
But if the midterms turn into a referendum on which party can boost middle class wages, the Democrats may hold the Senate.
