The Progressive Propaganda Media had been pushing the theme of an Obama Boom since last summer. When the GDP stopped declining and job losses stemmed, the Media declared we were entering a Boom. Magazines and newspapers were heralding the success of the Stimulus Bill and claiming that Obama had saved America. Article after article was coming out trumpeting this so called Boom and they were comparing it to the 90’s boom. Reality however has unmasked it as a lie. The stock market has tanked, consumer confidence has collapsed, home sales have crashed, private sector job growth has stagnated and our debt keeps rising. Indications are that the economy is slowing down again, thus increasing the likelihood of a double dip recession. The Progressive economic policies of Barack Hussein Obama have failed!
The administration’s stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible.
But they want new stimulus measures—which is convincing evidence that they too recognize that the earlier measures failed. And so the U.S. was odd-man out at the G-20 meeting over the weekend, continuing to call for more government spending in the face of European resistance.
The contrast with President Reagan’s antirecession and pro-growth measures in 1981 is striking. Reagan reduced marginal and corporate tax rates and slowed the growth of nondefense spending. Recovery began about a year later. After 18 months, the economy grew more than 9% and it continued to expand above trend rates.
Two overarching reasons explain the failure of Obamanomics. First, administration economists and their outside supporters neglected the longer-term costs and consequences of their actions. Second, the administration and Congress have through their deeds and words heightened uncertainty about the economic future. High uncertainty is the enemy of investment and growth.
Read the rest: Why Obamanomics Has Failed
The Obama boom was a mirage invented by the media to create false confidence and this lead to growth. However it didn’t work as teh public saw no improvement and are now again saving money. Barack Hussein Obama’s economic policies are a failure and at the G20, his suggestion to continue deficit spending where ridiculed.
