The Obama economy

The Obama economy

Neal Boortz
August 4, 2011

Dear Ruler says that now that the debt deal is done, he is going to re-focus on jobs and the economy.

Wow. Can’t say that has me all that confident that things are going to turn around. Why? Well let’s take a look at how things are going in the Obama Economy, which is now officially the weakest two-year recovery since WWII.

• First quarter growth for this year was revised down from 1.9% to just 0.4%.
  

• Second quarter growth limped in at a whopping 1.3% GDP growth.
  

• In June, Americans cut their spending for the first time in nearly two years.
  

• In July, manufacturers had their weakest growth in two years.
  

• Planned job cuts rose 60% in July: private-sector downsizing pushed the number of announced job cuts by U.S. employers to a 16-month high.
  
  

A growing trend among the ObamaMedia in the wake of the debt deal is to question whether these budget cuts will hurt our economic recovery.

Seriously? Our economy is barely limping along at 1.3% GDP growth … there’s not much more that we could do at this point to hurt our economic growth other than to continue to grow the size of government and increase regulations and taxes. I have it under good authority to assume that Obama and the Democrats would be OK with all of these things. Cutting spending is one thing that we haven’t yet tried. Even so, is the ObamaMedia even aware of what these budget cuts look like?

For FY 2012, we are look at a measly $21 billion cut in discretionary spending. That’s less than 1% of our almost $4 trillion budget, and that doesn’t take into account the fact that Obama has increased spending by 25% since coming into office! And the ObamaMedia is worried that this cut of less than 1% of next year’s budget is going to hurt our economic recovery??