Obama’s REAL 1% – 4Q12 Reported GDP Growth – 0.1%
Question – what do you get after 4 years of increased regulation, hostility towards business and the promise of massive tax cuts on small business, the middle class and economic producers? Answer – 0.1% economic growth. Mark Zandi, Obama’s mouthpiece economist, believes economic growth in the US will surge to 4% in 2014. All evidence to the contrary. And the explanation about ‘gov’t’ spending dropping as a reason for economic decline is a joke. Two points there. First, Obama pumped untold billions into the economy (it’s nice to not have a budget or be held accountable by the press) leading up to the election. He bought your vote. Second, why the hell is the economy still that fragile 4 years after the recession ended? Why is our growth tied to variable measures instead of true efficiency gains and underlying business growth? See the first line of this post for your answer.
And don’t let Obama tell you $85B in cuts (only $44B this year) will have any meaningful impact on the economy this year. Government will spend more this year versus last and the planes flew, military funded, food inspected and children were educated when their teachers weren’t too busy protesting.
WASHINGTON (MarketWatch) – The U.S. economy grew in the fourth quarter – but just barely – instead of contracting for the first time in three and a half years, the Commerce Department said Thursday.