Yesterday, I wrote about the lack of leadership by president Obama when it comes to the economy. Obama has no plan to help get things growing again; he does not even seem to have any idea what needs to be done. Today, we got further confirmation of just how bad things are. The government issued a revised GDP report for the first quarter of this year. The economy shrank at a 1% annual rate. While there was very bad weather during that quarter, the number is still terrible. At most the bad weather cut the growth rate by 1-1.5%. That means that even without the bad weather, the economy was either stagnant or just slightly growing. We should have been seeing growth at a much higher rate, something more than 4%.
There has to be a change in Washington. Obama's policies on other issues like energy, etc. are actually reducing the growth rate rather than helping increase it. Someone who understands the economy has to take charge. We will all suffer until 2017 when we get a new president. At that time, however, we must make the right choice, or the US economy will suffer wounds from which it will be hard to recover.
There has to be a change in Washington. Obama's policies on other issues like energy, etc. are actually reducing the growth rate rather than helping increase it. Someone who understands the economy has to take charge. We will all suffer until 2017 when we get a new president. At that time, however, we must make the right choice, or the US economy will suffer wounds from which it will be hard to recover.
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