More troubling in the latest figures, consumer spending — the largest component of the economy — was especially slow. Stagnant wages and higher prices for gas and food are squeezing family budgets, while falling home equity hurts consumer confidence. That suggests more bad news to come.
When consumers are constrained, so is hiring, because without customers, employers are hard pressed to retain workers or make new hires. A recent Labor Department report showed a greater-than-expected rise in the number of people claiming jobless benefits even as private-sector economic forecasts are being revised downward — both very bad omens for continued job growth.
The White House has offered sounder ideas, including job retraining, plans to boost educational achievement and tax increases to help cover needed spending. But its economic team is mainly focused on negotiations to raise the debt limit, presumably parrying Republican demands for deep spending cuts that could weaken the economy further while still reaching an agreement on the necessary increase.
The grim numbers tell an unavoidable truth: The economy is not growing nearly fast enough to dent unemployment. Unfortunately, no one in Washington is pushing policies to promote stronger growth now.
Kicking Barry out of Office in 2012 is the most significant economic stimulus plan that's currently on the table.
Who is John Galt ?























































Oh, there you go with your little Ayn Rand codewords. Mouch! Tinky! Galt! Buzzy! Cuffy!
ReplyDeleteI've asked a lot of conservatives this question and have never gotten a straight answer: tell me, if Republican policies of lower taxes and deregulation result in economic growth, then why did we not experience an economic boom at the end of Bush's tenure? Why did we get the exact opposite instead?
Tell me. If the world worked the way you thought it did, then we'd currently be in boom times created by Bush's policies that Obama would mistakenly get credit for. Why is that not happening?
Come on.
The only thing worth reading in your comment:
ReplyDelete"Why is that not happening?"
So, you agree that BHO's approach is the epic FAIL. You must also then realize that we've spent too much on entitlements; and that Democrats are using the lure of entitlements to secure votes from mooching no-brains who can't operate a voting machine if they are forced to also carry a photo ID. To chew gum whilst doing all three would cause them to totally freeze up on the spot; Statues of Obama-voting Stupids.
You're making progress, I'd say.