Thursday, March 28, 2013

Dismal Fourth Quarter Economic Growth

The fourth quarter of 2012 grew at just 0.4%, while overall GDP growth for all of 2012 was about 2%.  This is dismal and cannot make a real dent in real unemployment in the United States.   Obama's Socialist Schemes of higher taxes, more regulations and his Trillion Dollar SwindleUS Plan has failed miserably to spur economic growth and job creation again in America.   There are more than 20 million Americans either unemployed, under employed working part time, or that have just given up living for work altogether.  The real Obama unemployment rate is still above 14%.

This could be the reason, in addition to looser qualification requirements, that the number of people on Food Stamps has grown 70% since Obama was first elected to almost 48 million Americans on the dole.  The poverty rate is higher today than when Bush II was President.   The labor participation rate, the number of people working overall, is down.   Obama and his Socialist pals in Congress have made a mess of our economy.

And, it will get worse in 2014 as ObamaCare kicks in.  Many will lose their company paid health insurance.   Others will lose full time work, as companies seek to avoid ObamaCare cost, or penalties.   The Obama $1.6 Trillion in tax increases in the Fiscal Cliff Deal and ObamaCare will start to kick in this year, which could lead to a double dip recession.   None of this is necessary.

We could be growing at 4% a year or more if the Obama federal government would just get out of the way.   We need to cut taxes, regulations and government spending to get the private sector moving and investing again.   Most important, we need an all of the above energy plan to make all forms of energy, carbon based, nuclear and eventually green technology, cleaner, safer, cheaper and more available to make the US energy independent once and for all.   Of course, none of this will happen as long as Obama is the President and Socialist control the Senate.   It is what it is.  More years of misery.  Elections matter. 

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