The Obama economy
Well, it looks like the Obama double-dip Recession has turned out to be more than Republican rhetoric or anti-Obamamunism. The numbers are out. The economy shrunk at a rate of .1% GDP, adjusted annually. What is most shocking is that this occurred during the Fourth Quarter – during the Christmas season when the economy typically grows the most.
The third quarter showed a 3.1% increase in GDP, adjusted annually. And while economists have said that the majority of the drop off in this quarter (2.6%) can largely be attributed to government spending cuts as well as “inventory drop-off”, the lack of inventory combined with the rest can be thrown right back onto the shoulders of the Obama economy.
Now, economies cannot rise and fall on one man, president or not.
However, economies can be dinged and damaged by poor governance. Our President has not only raised taxes this year but is talking about further tax increases. He has shown himself unconcerned with massive deficits and is forcing the opposition to institute drastic spending cuts. Meanwhile, the president is more concerned with creating additional rights for homosexuals, restricting the sale of firearms and passing an immigration bill than he is getting the American people back to work. The sooner we can begin the lame-duck, the better off the country will be.
We need confidence in leadership again. While the majority of Americans demonstrated confidence in Barack Obama’s leadership late last year, the working class, the taxpayers, the job creators and the people that make the greatest majority of money and grow GDP have shown that Obama still inspires trepidation, rather than hope.