Wehrwolfen
Banned
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- May 11, 2013
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by Bruce McQuain
July 28, 2013
As much as the president would like to blame our economic ills on the other party, or George Bush or, well, just about anyone, the fact is he’s been at the helm of the ship of state for almost 6 years. So his recent pivot toward addressing economic issues is a bit of a laugh, in reality. For 6 years it simply hasn’t been that important to him. And there’s good reason. His record, as Emily Miller points out, is abysmal:
The Congressional Budget Office projects a $642 billion deficit for this fiscal year, but that’s mostly because Mr. Obama hiked taxes on Jan. 1 to pay for his spending habits.
Despite years of promises to the contrary, to this point, President Obama and his administration have been economically underwhelming. In fact, they’ve been downright inept.
[Excerpt]
Read more:
What has Obamanomics brought us? « Hot Air
Obama claims it's because Congress won't give him what he wants and the all those phony scandals that the GOP has concocted like Fast and Furious, Benghazi, IRS and the NSA Scandals. Of course no one mentions the theft of information in the Attorneys offices representing Whistle blowers, or those lowly IRS employees that just happened to implicate the Chief Counsel to the IRS, Mr. William Wilkins Esq. an Obama appointee. Just today Jack Lew did his tap dance on the Wallace Show hemming and Hawing trying to side step answering the Questions on the IRS scandal.
July 28, 2013
As much as the president would like to blame our economic ills on the other party, or George Bush or, well, just about anyone, the fact is he’s been at the helm of the ship of state for almost 6 years. So his recent pivot toward addressing economic issues is a bit of a laugh, in reality. For 6 years it simply hasn’t been that important to him. And there’s good reason. His record, as Emily Miller points out, is abysmal:
The economy has never grown much more than by minuscule amounts during the Obama administration. Gross domestic product has grown at an anemic pace since he’s been in the White House, barely sputtering at 1.8 percent in the first quarter of 2013. Unemployment under Mr. Obama has averaged a discouraging 8.8 percent and still tops out at 7.6 percent.
Gas prices are rising again, but Mr. Obama spent a long stretch of these speeches touting the doubling of “clean energy” production on his watch. He claimed to have “saved the auto industry,” but didn’t mention that Detroit has gone bankrupt.
Most absurdly, he cited as a point of pride that “our deficits are falling at the fastest rate in 60 years.” He left out two key points: The congressional Republicans demanded spending cuts for increasing the debt ceiling, and the rate of decrease is high because the deficits themselves have been the largest red ink in U.S. history. Spending was $1.4 trillion more than revenue in 2009 and $1 trillion more in 2012.
Gas prices are rising again, but Mr. Obama spent a long stretch of these speeches touting the doubling of “clean energy” production on his watch. He claimed to have “saved the auto industry,” but didn’t mention that Detroit has gone bankrupt.
Most absurdly, he cited as a point of pride that “our deficits are falling at the fastest rate in 60 years.” He left out two key points: The congressional Republicans demanded spending cuts for increasing the debt ceiling, and the rate of decrease is high because the deficits themselves have been the largest red ink in U.S. history. Spending was $1.4 trillion more than revenue in 2009 and $1 trillion more in 2012.
The Congressional Budget Office projects a $642 billion deficit for this fiscal year, but that’s mostly because Mr. Obama hiked taxes on Jan. 1 to pay for his spending habits.
Despite years of promises to the contrary, to this point, President Obama and his administration have been economically underwhelming. In fact, they’ve been downright inept.
[Excerpt]
Read more:
What has Obamanomics brought us? « Hot Air
Obama claims it's because Congress won't give him what he wants and the all those phony scandals that the GOP has concocted like Fast and Furious, Benghazi, IRS and the NSA Scandals. Of course no one mentions the theft of information in the Attorneys offices representing Whistle blowers, or those lowly IRS employees that just happened to implicate the Chief Counsel to the IRS, Mr. William Wilkins Esq. an Obama appointee. Just today Jack Lew did his tap dance on the Wallace Show hemming and Hawing trying to side step answering the Questions on the IRS scandal.