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The Right Side of LiveJournal
July 29th, 2011
More failure from Obama and Co.
Today the numbers for economic growth were released and demonstrated yet again that the Obama economic policies have been an epic failure. Growth for the previous quarter was revised downward to a recession-like 0.4%. Growth for the most recent quarter was almost as bad: 1.3%.
This virtual non-growth is miles from where we were at in previous expansions. The Reagan expansion (still the gold standard for growth during an expansion in peacetime) at this point was churning along at 8% with declining inflation, poverty and unemployment.
The time has come for the Democrats to admit their mistakes and stop holding the people of America hostage with their policies of endless debt.
Call your representatives and demand that they cut spending first and cut spending significantly as part of any budget or debt deals going forward.
It's far past time that Congress adhered to a real budget. That's the only way we can restore real economic growth and create a climate that facilitates job growth.
"I call upon the scientific community in our country, those who gave us nuclear weapons, to turn their great talents now to the cause of mankind and world peace, to give us the means of rendering those nuclear weapons impotent and obsolete."