This article points what you have heard from me for the last few months … this economic recovery is a failure. And Obama owns the economic recovery. He is trying to claim that the Republicans are sabotaging his recovery, but that is a lie since the Democrats hold/held the Senate, hold/held the White House, and held the House of Representatives. The economic failure right now are from Obama actions.
The 2% growth to GDP is all from increased prices and not from any increased product volumes. And since inflation to energy and food are actually lots more than the 2%, this economy is actually in a reduction of product volumes when inflation is subtracted from GDP growth … which is a recession.
GDP growth after most recessions has been more than 10%. Obama is a failure.
Even though this may be redundant, it is because this administration wasted money … trillions of dollars. It focused on financial tools to boost stock prices rather than on product volumes to increase jobs. It spent it on services and government employees (especially teachers) rather than on products made in the USA which would utilize the manufacturing multiplier effect. Obama refused to allow for more oil drilling which is now exacerbating gas prices and draining more money from the economy. Gas prices were $1.87 per gallon when Obama took office. And Obama has not addressed the number one root cause to decreased demand for products and houses which is the low birth rate to white folks for the last 40 years.
Because of the lack of business experience in Obama and his staff, he continues to make lots of mistakes … some on purpose like with Obamacare .. and some because he is economically stupid (what were his actual grades in college?). He is a failure. His presidency is a failure in affirmative action.
Obama has been rewarding Wall Street, insurance companies, and unions (especially teachers) for their large contributions to his campaigns as he continues to kill the economy in the process.