Obama promised recovery if we spent ourselves into ruin. Do you still believe in Obama big-government economics?
-The USA was facing the greatest economic downturn since the 'great depression'
-It was all the Republican's fault
-Only massive expansions in government spending would save the USA from catastrophe
The American people did not want the massive expansions in government spending but Democrats 'passed' them anyway.
Now we find out that not only did Obama big-government NOT help the economy, the Obama/Reid/Pelosi socialist polices made the US economy worse...much worse.
"Yesterday, analysts thought the economy was expanding by 2.5% a year. This morning, they learned GDP grew by only 1.6% in the last four quarters. This is a remarkable discovery. It’s the difference between thinking we’re expanding at a decent, if disappointing, pace, and knowing we’re growing around half our historical norm."
Yep, that's the Obama 'recovery' at the bottom of the chart there.
Remember all the Harvard economists who arrogantly declared the solution was socialism?
They have been proven wrong, especially the Harvard-educated socialist professor who is currently occupying the white house.
Here is another chart that compares recessions with US output:
This is before the GDP numbers were 'revised' down. That means the Obama recovery has scored even lower than all previous recoveries in the past 100 years.
What is the result:
-An un-sustainable burden of government programs created by socialists in the Democrat party
-An economy with a debt so high it is permanently downgraded
-An American people who for the first time expect a lower standard of living and quality of life in the future.
"When historians look back on this moment in American politics, they may wonder why the White House failed to focus on the consuming issue of the time: the economy — and, in particular, jobs. …
In June, the nation’s unemployment rate rose for a third straight month, as employers added only 18,000 workers and corporate earnings languished.
President Barack Obama’s support has eroded among the very independent voters who helped him sweep into office. That drop-off is based on his inability to lead on numerous issues, but most importantly on the economy."
Do you still believe in Obama big-government economics?
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