The private sector is doing fine. Where we're seeing weaknesses in our economy have to do with state and local government. Oftentimes cuts initiated by, you know, Governors or mayors who are not getting the kind of help that they have in the past from the federal government and who don't have the same kind of flexibility as the federal government in dealing with fewer revenues coming in.Uh, no. The private sector is not doing fine. The official GDP print is less than 2%...three years after the recession officially ended, which makes this the weakest recovery since the Great Depression. In fact, a strong argument could be made that the economy has been in perpetual recession throughout this amateur's administration. If inflation were calculated the way it used to be, GDP would be currently be printing--three years into the "recovery"-- at -.5% to -.8%. In other words, this is an economic depression, and to say that "the private sector is doing fine" is an insult to the millions who have been struggling over the past few years. And then to focus on the public sector! Sorry, but government spending only makes up a fraction of GDP and comes with a high opportunity cost to the private sector.
The Amateur-In-Chief continues:
And so, you know, if Republicans want to be helpful, if they really want to move forward and put people back to work, what they should be thinking about is how do we help state and local governments and how do we help the construction industry? Because the recipes that they're promoting are basically the kinds of policies that would add weakness to the -- to the economy, would result in further layoffs, would not provide relief in the housing market, and would result, I think most economists estimate, in lower growth and fewer jobs, not more.The cure for state and local governments' ailments is starving parasitic government agencies by slashing spending. But if the Community Organizer wanted to assist the construction industry, he would have advocated infrastructure projects in his nearly $1 trillion stimulus bill. America's infrastructure is crumbling, but this president decided to use the stimulus to reward his cronies instead of rebuilding the country.
I can't imagine how anyone who has been unemployed or underemployed during Obama's dictatorial regime could vote for this man.