Noise on the TV

It is that time again when the airwaves are crammed with political commercials that more often deceive than inform.

 

One commercial airing for the Obama Campaign is addressing the oft-repeated question that Reagan asked: Are you better off than you were four years ago?  Initially, the campaign dodged the question or even, accidentally, admitted that the country wasn't better off but was headed in the right direction.  The campaign has decided on a strategy.  The economy was bleeding hundreds of thousands of jobs when Obama arrived and now the trend is adding jobs.  It is a clever ad but it is misleading.  The ad implies that the economy would still be losing hundreds of thousands of jobs a month if not for Obama, as if the recession would never have bottomed out.  See, the bleeding stopped so he's a success.  Hardly.  When Obama took office, the unemployment rate was under 8%.  It has been over 8% ever since, which itself is misleading.  Assuming that the same number of people were in the workforce (which they aren't), then the economy hasn't yet recovered.  As to the workforce, if the same number of people were still employed or looking for jobs as were looking in Jan. 2009, the unemployment rate would be over 11%.  People dropping out of the workforce are benefiting the president.  One should note that when an economy begins to truly recover, the unemployment rate ticks up as the discouraged workers reenter the job market.

In another commercial, the Obama Campaign paints Romney as pro-China.  See, a flood of Chinese tires was threatening American jobs so Obama imposed a tariff and Romney was opposed to the tariff.  Anyone who understands trade is opposed to tariffs.  Tariffs make goods more expensive and allow domestic manufactures to be less efficient.  For example, let's suppose that China Widget Company (CWC) can make widgets for $10 and American Widget Company makes them for $15.  AWC needs to become more efficient or be driven out of business.  Yes, that will cost the employees of AWC their jobs but it will benefit the consumers who will save money on widgets.  Less expensive goods make the consumer richer.  However, if we impose a $10 tariff on CWC so that their widgets cost $20, AWC will remain uncompetitive and might even raise its price to $19 a widget.  This makes the consumer poorer.  Romney understands this while Obama does not.

 

In another commercial, Bill Clinton promotes Obama's plan as being superior to the Romney plan, which he claims is the reason for the Great Recession.  Obama's plan has put us $5.4 trillion deeper in debt and has, at best, left the economy no better than when he started.  Too many more successes like this and the country will be bankrupt.

 

Of particular note is that these are all defensive commercials, responding to attacks from the Romney Campaign or its surrogates.  It is generally said that if you are on defense, you're losing.