Compared to Newsweek covers we’re all accustomed to, this is quite a departure:
Newsweek’s latest cover story comes from none other than noted historian Niall Ferguson. The article, titled “Hit the Road, Barack,” argues that President Obama has proven that he‘s an economic illiterate and that Republican presidential candidate Mitt Romney and his running mate Paul Ryan’s “path to prosperity is our only hope.”
“Unemployment was supposed to be 6 percent by now. It has averaged 8.2 percent this year so far. Meanwhile real median annual household income has dropped more than 5 percent since June 2009. Nearly 110 million individuals received a welfare benefit in 2011, mostly Medicaid or food stamps,” writes Ferguson.
“Welcome to Obama’s America,” he adds.
“America under this president is a superpower in retreat, if not retirement. Small wonder 46 percent of Americans — and 63 percent of Chinese — believe that China already has replaced the U.S. as the world’s leading superpower or eventually will.”
Team Obama is expected to offer the following stinging rebuttal: “But… Mitt Romney’s not releasing his taxes!”