As GDP Flatlines, Obama Brags About His Economic Record

[Geee]

Investors Business Daily:

Legacy: The same day the 0.5% GDP growth came out, President Obama is quoted in the New York Times saying the country has done “better” than “any large economy on Earth in modern history.” Delusional doesn’t begin to cut it.

 

The only real problem with the economy, as far as Obama is concerned, is that he hasn’t been selling his successful policies aggressively enough.

 

“We were moving so fast early on that we couldn’t take victory laps. We couldn’t explain everything we were doing. I mean, one day we’re saving the banks; the next day we’re saving the auto industry; the next day we’re trying to see whether we can have some impact on the housing market,” he told the Times’ Andrew Ross Sorkin.

 

Never mind that Obama didn’t “save” either industries. Obama’s only contribution to GM and Chrysler’s bankruptcy process was to protect union interests at taxpayer’s expense. Dodd-Frank didn’t save banks; in fact it’s killed multitudes of community banks. His stimulus was a massively expensive bust.

 

The rest of Obama’s boasts aren’t on any firmer ground.

[Geee]

President Obama’s Economic Growth Anemia

 

Growth: We can’t wait to see how the White House PR flaks spin the latest dismal economic news. The economy that has already been in a 2% growth rut has now downshifted to 0.5%, or barely treading water.

 

This follows a weak 1.4% tick up in GDP growth in the fourth quarter of 2015. Why aren’t Republicans and Donald Trump taking the offensive on the economy and the wreckage of Obamanomics?

 

As for the Commerce Department report, gains in consumer spending, housing and government spending kept us barely out of negative territory. But what’s blasting a hole in the economy now is business spending. Business investment has shown no growth at all for two years now. Worse, nonresidential business investment is down 8% over the past six months.

 

If businesses don’t spend and invest, they don’t hire and they can’t offer better-paying jobs. Business investment and wages are two sides of the same mirror. It’s simple: If a company purchases five trucks rather than 10 trucks, there are five fewer trucking jobs. If employers don’t invest in more computers, there are fewer programing jobs, and if businesses don’t purchase more jackhammers and cranes, there are fewer construction workers hired.

http://www.investors.com/politics/editorials/president-obamas-economic-growth-anemia/

[Geee]

Savior Obama's lame economy limps along

 

When President Obama was asked recently what he wants to be remembered for, he quickly answered that it would be as the savior of the American and global economies.

 

"There are things I'm proud of," he said, citing Obamacare, then added, "Saving the world economy from a Great Depression, that was pretty good."

 

The economy was in free fall when he took office, and he's been boasting for seven years that it isn't any more. But no one worried that free fall would last forever. The real question was how long it would take before it bottomed out and bounced back.

 

The American economy grew at an annualized rate of only half a percentage point in the first quarter of this year, it was announced Thursday. This is bad news for Obama's legacy and for Hillary Clinton, running for her former boss's third term. It is certainly a strain to see it as vindication of Obamanomics after six years of stimulus, pump-priming and stagnation.

http://www.washingtonexaminer.com/savior-obamas-lame-economy-limps-along/article/2589875

[clearvision]

The economy is great , the world is most peaceful ever....

 

Where is that Bagdad Bob picture when you need it?

[Geee]

The economy is great , the world is most peaceful ever....

 

Where is that Bagdad Bob picture when you need it?

 

Just out of curiosity I Binged Bobs name to see what ever became of Him. Apparently he was never arrested for anything and is living in the UAE under an assumed name. So, if you can find him, he is probably available