Economic Growth Goes Negative in Fourth Quarter, Sound the Distress Signal

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OBAMANOMICS

Mary Landrieu of Louisiana said we don’t have a spending problem and people need to stop believing Fox News.

How then, do Democrats like Landrieu explain away the disastrous fourth quarter economic growth? It’s merely a blip on the screen and it proves we need to spend more. Government spending is adding to the unsustainable debt – it is our tax money, not money they produce through their own labors. This is insane people.

Others like Jay Carney simply blame Republicans for not letting Obama implement even more of his failed policies.

The economic growth went from 3% in the third Quarter of last year to a stunning -.1% in the fourth Quarter.

President Obama bypasses Congress at every opportunity. Republicans only control one-half of one-third of the government and they are the only ones trying to slow the growth in spending. This is the Obama economy not the Republican economy.

Obama’s blame game is tiresome.

A DC Circuit Court recently found President Obama in violation of the Constitution for appointing two NLRB members during a recess that wasn’t a recess.

The NLRB has only one Republican and the two appointees are far-left union puppets. The National Labor Relations Board is 4 to l left-wing. The rules and regulations they have leveled on private business have been stifling.

Every rule they have passed forces or encourages unionization and makes it difficult for employers to resist.

In addition to rules and regulations on businesses, we have President Obama’s debt and deficit problem.

President Obama has increased the debt by almost 60% in four years to stimulate the economy. Democrats believe we do not have a spending problem even though this administration has spent 5.8 trillion dollars.

President Obama has no interest in decreasing spending except if the cuts are to defense. President Obama demanded sequestration which requires automatic across-the-board cuts if Congress fails to reach a deal on the budget. Defense is 10% of the discretionary spending but defense is being subjected to 50% of the cuts.

The economic growth allegedly dropped in part because of a 15% drop in federal government spending. If we have to rely on government spending to keep us afloat, we have a very unhealthy economy. President Obama’s stimulus bills have had no lasting effect.

The Washington Times reported today that the drop in growth is also attributable to a 22.2% drop in defense spending and a 5.7% drop in exports and a decline in business spending on inventories.

The Washington Times pointed to the drop being offset by “a pickup in consumer spending to a 2.2% annual growth rate, an 8.4% jump in business investment spending, and a robust 15.4% surge in housing investment.”

One can only imagine what would have happened without investments, though the housing investments are somewhat worrisome. They are partially buoyed by lax mortgage lending practices which leads us to believe in the possibility of another housing bubble.

New homes are not selling but that went unnoticed in the mainstream media.

New_Home_Sales_december

The feds have the printing press going constantly now and we still have not seen growth.

Wait until the Obamacare rules and taxes hit.

We haven’t seen anything yet.

In the end, this is what the American people want. A new poll out has Obama’s popularity at 60%. No matter what he does, he is teflon.

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