Obamanomics: R.I.P. Sluggish growth is the long-term new normal for America

The Washington Times ^ | June 19, 2016 | Stephen Moore

[expat_panama]

Well, it turns out Annie had it wrong. The sun won’t come out tomorrow.

That was basically the message from Federal Reserve chair Janet Yellen last week when she acknowledged the economy is doing more poorly (again) than previously hoped. The Fed admitted that sluggish growth that caps out at 2 percent is with us for as far as the eye can see, or at least through the next two years. Is this a declaration of the last rites for Obamanomics? It should be. Throw it in the dustbin of history alongside all the other failed liberal economic experiments.

The previously bullish Fed finally and openly acknowledged that sluggish growth is the long term new normal... ...the equivalent of losing the entire annual output of every business and worker in Michigan, Ohio and Indiana combined.

Instead of speeding up to recover all this lost ground, we’re decelerating...

...Where is the Republican tax cut? Where is the Republican regulatory freeze? Where is the Republican bill suspending the 50-worker rule under Obamacare or the 30-hour-a-week regulation that has forced millions of Americans into part-time jobs. Why haven’t they suspended the Clean Power Plant rules by the EPA that are putting coal miners out of work? House Speaker Paul Ryan has some wonderful policy ideas he is rolling out, but rather than talking about them, how about passing them?

Hillary’s growth agenda is to give America more of the same. Congressional Republicans seem to have no economic agenda at all — just white papers of what they will do in the future. But to quote George Allen, “The future is now.” Congressional Republicans like to blame Mr. Trump for their precarious political predicament and lousy poll numbers. Maybe they should look in the mirror.

[ChildOfThe60s]

Thanks, I stand corrected.

I tend to lump all the economic propaganda ministries together.