Doin' Fine

President Obama has caught a lot of flak from Republicans and media commentators for saying “the private sector is doing fine.” I agree with the President. First, “doing fine” is not the greatest compliment one can bestow. It is not high, effusive praise. In response to “How are you?”, it’s used to indicate nothing more than the status quo. Secondly, “private sector” does not include the employment status of individuals. Private sector means non-governmental enterprise. Consider that: The stock market has mostly recovered from its 2008 low. Businesses accounts are strong fueled by rebounded sales and cost controls. Commercial construction projects are moving forward with closed down sites being completed and new buildings started. New restaurants are opening with crowds of diners. Travel and tourism are strong- witness the recent activity surrounding the MLB All-Star Game held here in Kansas City.  We can easily find more examples of a strengthened economy, but it is still not at its best. It will only ramp up as time passes. My point is that jumping on the President’s statement that the “private sector is doing fine” says more about the motives of critics than the President’s statement says about the economy.