Barack Obama said in February 2009 that his presidency would be “one-term proposition” if the economy did not recover in three years.
Well, it’s been over three years now and the economy is not improving.
Even the White House admits employment is not growing fast enough.
ABC News reported:
Reacting to this morning‚??s jobs report, the White House said the economy is continuing to heal but that ‚??much more remains to be done to repair the damage from the financial crisis.‚?Ě
‚??It is critical that we continue the policies that build an economy that works for the middle class and makes us stronger and more secure as we dig our way out of the deep hole that was caused by the severe recession,‚?Ě Chairman of the Council of Economic Advisers Alan Krueger said in a written statement.
‚??There are no quick fixes to the problems we face that were more than a decade in the making. President Obama has proposals to create jobs by ending tax breaks for companies to ship jobs overseas and supporting state and local governments to prevent layoffs and rehire hundreds of thousands of teachers,‚?Ě he said.
The economy added 80,000 jobs in June, fewer than expected, and the unemployment rate remained unchanged at 8.2 percent, the Labor Department announced this morning.