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  • bjspokanimal bjspokanimal Apr 9, 2013 1:49 PM Flag

    Obama: The Big Picture... The Spring Update

     

    Here are the top economic issues, and where we stand on them Currently:
    1. Growth: "Cumulative" growth over the past 12 quarters was 6.3%, which is the slowest, post-recession growth
    we've experienced following 11 recessions recorded since World War II. Abysmal.
    2. Deficits: Projections are for about $875 to $900 billion provided economic growth picks up. More of the 1 to 2%
    growth we've been experiencing, however, will nail us to another one of Obama's famous $Trillion
    dollar deficits. Every year of the obama presidency has delivered deficits between 2 and 3 TIMES any
    deficit that the U.S. has ever experienced before Obama took office.
    3. Jobs: Although the unemployment rate ticked down to 7.7% on an abysmal 88,000 new jobs in March, most
    of the improvement was due to job seekers "giving up", as the "labor participation" rate hit the lowest
    reading since 1979.
    4. Money Printing: The fed continues to support Obama's no-growth economy with $45 billion a month spent on
    each of 2 programs, "operation twist" and "QE3" The result is ~$90 billion/month of money printing
    and a fed balance sheet that now exceeds $3.2 Trillion... a huge, all-time record.
    5. Leadership: The Senate STILL hasn't produce a budget in 4 years. The country's "leader", Barack Obama,
    yet to propose anything that can pass congress... just a big tax increase and the "sequestration",
    which everyone, Obama included, is saying was a HORRIBLE solution.
    It's clear to any objective-minded economist that the past 4 years have been the worst 4 years in American history from a purely objective look at what is happening to our economy. With investment captial continuing to flee offshore, and foreign earnings of American corporations continuing to STAY offshore, it looks pretty bad.

    Spok

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