Barack Obama bragged about the economy during his sixth State of the Union address in January. Suddenly, it was his economy, not George Bush’s. Barack Obama was being sold by the media as good for the economy. We are now experiencing yet another plunge in the growth rate which has been on a steady decline. If this continues, will the economy go back to being George Bush’s?
The growth rate was a remarkably low .2% this past quarter. That’s down from 2.2% in the previous quarter. Last summer it was 5.5%.
The forecasters said it would be 1.1% this past quarter – not even close.
The economy has stalled yet again.
What excuse will they give?
Another blip because the dollar is doing too well or is it the weather and global warming?
Our government has thrown trillions at the economy, taxed the rich, printed money, so what’s left – more taxes?
We’ve printed money and the feds have a more than 4 trillion dollar balance sheet as we climb towards a $20 million dollar debt by the time this president leaves office. All it did, according to Stuart Varney, is stimulate the Stock Market.
The 1 percenters pay 24 Percent and the top 10 percent pay 53.3 percent of all federal taxes currently and we have an ever-growing poor underclass.
President Obama sees our economy is in trouble so his illogical solution is to raise taxes.
The real problem, Varney said, is a shrinking middle class, depressed wages, and a shortage of GOOD new jobs.
We could be heading for a recession under this administration’s policies.