President Barack Obama will be leaving the labor market in a “pathetic situation” as Obama’s true economic legacy will be that he added jobs to an economic recovery at half the pace that Ronald Reagan did in the early 1980s, Peter Morici, a syndicated columnist and economist at the University of Maryland, tells Newsmax TV.
“We're adding jobs in this economic recovery at half the pace that Ronald Reagan added jobs. And Ronald Reagan was doing it in a much smaller economy, a small labor force and so forth,” Morici told Steve Malzberg on "America Talks Live."
"We have two kinds of jobs, those for Harvard graduates and those for the rest of us," said Morici, who is also a Newsmax Finance Insider. "It's a pathetic situation really that we have 6 or 7 million men between the ages of 25 and 54 unemployed, not looking for work, just collecting benefits," Morici said.
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Morici, former chief economist at the United States International Trade Commission, also accused Obama of having "perfected the leisure class."
"Did you know that we're now to the point where one out of every 20 adults, working age adults, is collecting Social Security disability? In an era of when we're living longer and healthier? All that is is just a way of parking people, getting them to vote for you," Morici told Malzberg.
"Barack Obama has perfected the leisure class. We're the first society to have its leisure class at the bottom, not at the top. But you know they do one thing very, very well. They rhythmically and with great efficiency pull the lever for D and that's all he really cares about. He doesn't care if he kills the country," Morici said.
"Vote for Democrats and you won't have to work very hard. It's kind of like the Romans, and it works until the barbarians are at the gate and they take you over. All I can say is to my grandchildren, is learn Chinese. They're going to be running the country pretty soon because Barack Obama is basically trashing it."
Obama also is trying to sell Hillary Clinton as a candidate with "high moral fiber" when in fact she is a "deceitful," influence-peddling politician,
Morici took issue with the commander-in-chief’s declaration that he didn’t have a problem with past GOP presidential candidates John McCain and Mitt Romney, both of whom he defeated, but did so with Clinton’s opponent Donald Trump.
"Oh absolutely. Think about it, this guy's trying to sell us a pathological liar, a deceitful person, someone who sells influence, who auctions off the Lincoln Bedroom and anything else that doesn't move and some things that do in Washington," said Morici.
"And so now he's trying to tell us that she has a high moral character and Donald Trump is debased for being in the real estate business.
"This is all absurd. The reality is the man who's put the nation at most danger, has put the republic at most danger by his own actions, words, and deeds is Barack Obama. He's the closest thing we have had to an emperor."
And what if Clinton is elected?
"Hillary Clinton is going to make Barack Obama look like a choir boy," Morici said.
(Newsmax wire services contributed to this report).
Peter Morici is an economist and business professor at the University of Maryland, and a national columnist. He tweets @pmorici1
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