Obama’s economic collapse: Rosy scenarios defeated by grim reality

Print Friendly and PDF

Another “we told you so” from those of us who warned about the dangers of voting for Obama in 2008…

Smack in the middle of the debt-ceiling crisis comes word that the economic situation is worse than everyone thought. New Commerce Department figures show the gross domestic product (GDP) growing at an anemic 1.3 percent rate in the second quarter of 2011.

Even more alarming, the initial first-quarter 1.9 percent figure was sharply downgraded to a scant 0.4 percent. If the second-quarter rate is later reduced that much, it would signal that the country is in a recession. Most Americans suffering during this historic downturn wouldn’t be surprised.

Continue reading

 

Print Friendly and PDF