Posted on 08/27/2010 8:32:52 AM PDT by JohnRLott
So this is the economic growth that by far the largest Keynesian stimulus in American history produces? President Obama’s $814 billion in stimulus, a more than $1.3 trillion annual deficit for the second year in a row, has produced what the administration has declared is the long awaited "Summer of Recovery."
Last fall the economy grew at a reasonable 5 percent annual rate, though even that was not particularly fast for a "recovery." Yet, it has dropped since then: during January through March, the growth rate dropped to 3.7 percent and April through June, 1.6 percent.
But Americans didn't need the new incredibly slow GDP growth numbers that came out on Friday to tell them that the economy was growing slowly or see through the Obama administration's constant cheerleading. . . .
(Excerpt) Read more at foxnews.com ...
The only part of the economy that’s growing is federal government spending. I don’t call that a recovery. I call it digging a deeper hole.
I just hope all the OBAMACRATS take more vacations.
They do less damage when they’re tinkering with the economy.
How do we dig ourselves out of this hole?
Take a lesson from the Chilean miners. Maintain positive mental & self discipline, do not over-eat, ration food and supplies, take care of your fellow human beings, choose a leader, assign tasks per experience and keep the faith.
If this recovery had been one of my patients, I’d have to euthanize it because it was too far gone for medicine to help.
great photo ping!
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