Hey Obama...the economy still stinks
By: Diane Sori
Politics and the economy go hand in hand. Always have and always will. And with the second quarter GDP (Gross Domestic Product) coming in at a miserly 1.5% growth, which is even less than the first quarter 2.0% growth, it simply means that the American economy is not growing fast enough to create the needed number of new jobs to put Americans back to work.
So the bottom line is that the weak 1.5% growth coupled with the newest inflation numbers for June being -0.15% (which is another deflationary month on top of May's -0.12%.), in no way is strong enough to bring down the 8.2% unemployment rate. These numbers directly affect the political scene as they bode very poorly for Barack Hussein Obama and his re-election bid. Little job creation and a rise in the inflation rate means our economy is for all intents and purposes...stalled.
While this is surely bad news for Obama and good news for Mitt Romney, these numbers are nothing to be happy about as it shows that Americans are still hurting and hurting bad.
Consumer spending is way down, as people are saving what little extra money they have instead of spending it, and spending is what stimulates the economy. American consumers just won’t spend because they’re uncertain and fearful about the direction our country is going in, and rightly so. And with Obama’s economic policies, like his stimulus bill and bailouts, proving to be total failures that leaves people to wonder what their future will be if, God forbid, Obama is re-elected or worse yet, usurps again.
And then in the middle of all this bad news, the Senate in their misguided wisdom, as if wisdom has ever been evident with this Senate, allowed the Bush Tax Cuts for those making over a million dollars a year to expire. Point blank...this Senate just cut tax breaks for the very people who create the jobs and the businesses we Americans so desperately need.
Yet even all this bad economic news, and the fact that the Senate has screwed ‘We the People’ yet again, does NOT seem to faze Obama at all. Formed in his mind then spewed out his mouth, Obama still bloviates that the economy will grow 2.6% by the end of this year choosing to totally ignoring the latest bad news about the GDP. He just doesn’t understand or refuses to understand the numbers needed to get to the 2.6% figure. For that to be achieved the economy would have to grow at a pace of 3% or more for the remainder of this year, and that just is NOT going to happen.
And here’s a real kicker that Obama just doesn’t get...with such dismal job numbers and our economic growth basically at a standstill we could very well be headed into another recession. And no amount of federal, state, or local cuts to government spending will help stop it.
So, with all this bad economic news and more coming down the road I cannot understand for the life of me how roughly 44% of the American people can still support Barack Hussein Obama and worse yet, say he is doing a good job.
But wait...silly me, how could I forget that roughly 47% of Americans pay NO taxes and most of those are the recipients of Obama’s handouts and freebies, so that explains it in no uncertain terms. After all, no one will bite, or in this case not vote for, the hand that feeds them.