“He is deliberately misrepresenting this. Here’s a person with a terrible record on government spending and a terrible record on jobs and a person who broke his word on taxes. He has no credibility.”
Who said that? Bill Clinton! Who was he saying it about? George H. W. Bush! When did he say it? 1992!
Fooled ya, didn’t I? 20 years have passed and little has changed except the players.
The GDP numbers on Friday showing the economy continuing to slow and headed into the recession predicted months ago by ECRI (Economic Cycle Research Institute), isn’t good news for Obama. The last quarter of last year showed growth (conveniently revised upward in Friday’s report) was 4.1 percent (on an annualized basis), while the second quarter was just 1.5 percent. Not only is the economy slowing, it is slowing at an accelerating pace.
We’re still in a position where we are pulling ourselves out of the very deep hole caused by the Great Recession, and there is still—of course—a great deal of anxiety in the country about the economy.
The establishment’s mouthpiece, The Wall Street Journal, even had to admit that things are looking dour for Obama:
Mr. Obama is running for re-election as a tribune of the middle-class against “millionaires and billionaires,” but his Presidency has been the worst for the middle class and the poor in decades
In return for blowing out the federal balance sheet, Americans got more debt but not more growth. And Mr. Obama says he wants $100 billion in more stimulus now?
Added to the record of the last four years, the 1.5% second quarter should solidify in the public mind that President Obama has failed on the economy.