O shrugs as economy sags

New York Post ^ | 07/30/2012 | Charles Gasparino

[SeekAndFind]

President Obama can’t stop talking about the 1 percent of people who he says don’t pay their fair share of the nation’s taxes. But he should be obsessing about a 1.5 percent — the rotten growth rate produced by the once-mighty US economy in the second quarter.

The slowdown announced Friday — on top of another slowdown in the first quarter — is further proof that the president’s class-warfare economic rhetoric and policies are pushing the country perilously close to a double-dip recession.

The numbers are pretty stark: Growth of 2 percent for the first quarter was already scary, down from around 4 percent at the end of last year. A few years out of a stiff recession like the one we had, the economy’s normally roaring, not sagging back down.

So the drop to a 1.5 percent growth rate for the second quarter is really quite staggering. At this rate, we could be in double-dip territory even by Election Day, as consumers continue to slash their spending and businesses their investments.

Yet the president either doesn’t know or doesn’t care that the country is headed right back into recession territory. He’s too busy bashing Mitt Romney’s record at Bain Capital to address what increasingly looks to be unfolding economic calamity.

Of course, Obama promised us hope, change and a robust recovery if we just followed his economic wisdom of massive stimulus spending and “green energy” investments. And yes, the president will blame Republicans, who won the House in 2010, for thwarting his more recent efforts to spur the economy. Which they have — but who could blame them? It’s more of the same stuff that gave us Friday’s dismal growth number.

[USNBandit]

I don’t see how we can avoid another recession. I think there was a lot of expectation in business circles that the ACA mandate would be struck down by the SCOTUS. Now that it hasn’t I can’t imagine any business making plans to expand when they don’t know how much the ACA bill is going to really cost them.

[mikrofon]

Asshat Shrugs

[jmacusa]

This is proof positive that this stupid Marxist punk hasn’t got a clue as to how a market economy works and couldn’t run a bloody lemonade stand or even understand the basic concept of one. HE”S A F”ING MORON! He’s nothing but a slick talking mouth piece for a bunch of Communists who thought all they would have to do is pass this glib-tounged phony off on a gullible public and the rest would be a piece of cake. Well Obamas handlers thought wrong, they have no clue either and worse yet they have no script to have their boy read from. He’s on his own now and all this uneducated punk knows how to do is go negative.