Posted on 07/01/2009 6:07:40 PM PDT by TheFreedomPoster
The real problem with the Obama economy is that unemployment is showing no signs of abating anytime soon, so consumer spending, which represents approximately 70% of GDP growth, will continue to be impaired and could prevent a sustained economic recovery from occurring anytime soon. Moreover, consumers are saving, not splurging. The savings rate jumped to 6.9% in May, the highest level since December 1993, according to the Commerce Department.
(Excerpt) Read more at myfreedompost.com ...
Why?
1- Business risk incentives have been destroyed.
2- Complete lack of confidence in U.S. markets.
3- Future tax uncertainty undermines investment, staff expansion, general spending, and lending.
4- Cap and Trade places unknown burdens on future operating expense.
5- Who all will the government steal from to pay for providing everyone with an insurance card while they pretend that is a substitute for healthcare?
G Larry,
You are sooooo right on with your analysis!
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