Stick a fork in this amateur president. He's done. Not only is Obama's
empire crumbling around him, but now he's making serious political gaffes. At a White House press briefing today, the Community Organizer said the incredible:
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.
