Don’t Say We Didn’t Warn You, The Economy Tanks in the Fourth Quarter
The latest data further shows Obamanomics is a failure.
Negative Growth: The Economy Tanks in the Fourth Quarter
Obama's $264 Billion Tax Increase for 2013 May Spark New Recessionhttp://www.newsmax.com/Newsfront/obama-taxes-2013-recession/2013/01/07/id/470418?s=al&promo_code=11A3E-1
GDP growth in the 12 quarters after a recession:
Average since WWII 15.2%
Ronald Reagan 18.5%
“Even if you start from when the recession ended in June, 2009, the decline since then has been greater than it was during the recession. Three years into the Obama recovery, median family income had declined nearly 5% by June, 2012 as compared to June, 2009. That is nearly twice the decline of 2.6% that occurred during the recession from December, 2007 until June, 2009.”
And of course, there are Obama’s and the Dems’ unsustainable debt and deficits.
The Mess We’re In”
“Did you know that annual spending by the federal government now exceeds the 2007 level by about $1 trillion? With a slow economy, revenues are little changed. The result is an unprecedented string of federal budget deficits, $1.4 trillion in 2009, $1.3 trillion in 2010, $1.3 trillion in 2011, and another $1.2 trillion on the way this year. The four-year increase in borrowing amounts to $55,000 per U.S. household.”
Under Obama, America’s per capita debt is greater than Greece, Ireland, Italy and France.
The deficit, the unemployment rate and the employment rate were better every year under George Bush than in any year under Obama.
Therefore, I submit Obamanomics is a failure. That is obvious to anyone willing to lift their head out of the Kool-Aid punch bowl of the MSM.
“To see what is in front of one's nose needs a constant struggle.” George Orwell