"To announce that there must be no criticism of the president, or that we are to stand by the president, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public." -- Theodore Roosevelt

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Thursday, June 6, 2013

AP Headline: Report: US hasn't seen expected 'Great Recovery'


"Hey, everyone better not thank me all at once for this great economy! But do thank me one at a time."

I think only the uninformed and the Left really had expected a "Great Recovery."

Aside from the "Really!! Do you think?!" aspect of the story, it's notable that the AP is actually running a headline countering the Obama narrative. Maybe their still smarting from their phone records being grabbed.

From the AP:

The expected U.S. "Great Recovery" hasn't materialized and the economy has fallen short of even normal growth, according to a forecast released Wednesday. 
The second-quarter UCLA Anderson Forecast said the growth of real gross domestic product - meaning the inflation-adjusted value of goods and services produced - is too small to help the nation climb out of its slump. 
The figure was 15.4 percent below a "normal" growth trend, forecast director Edward Leamer wrote. 
"To get back to that 3 percent trend, we would need 4 percent growth for 15 years, or 5 percent growth for eight years, or 6 percent growth for five years, not the disappointing twos and threes we have been racking up recently," he said. 
"It's not a recovery. It's not even normal growth. It's bad," he wrote. 
A real GDP growth rate of just 1.9 percent is expected for this year, only rising to 3 percent in 2015, according to the forecast. 
Unemployment should fall to 6.9 percent next year and 6.6 percent by 2015, according to the forecast - partly due, however, to discouraged workers dropping out of the labor force [wow, they're actually reporting this! Of course conservative fools like myself and many, many others have been talking about how the unemployment records don't reflect current reality for years now]. 
Leamer said that while jobs are being created, "the tepid growth continues to obscure the nation's most fundamental problems: too much government spending [but I thought that the the Tea Party were all crazy and don't know what they're talking about] funded with too much borrowing [again!], too little national savings to cover late-in-life health care issues [and that's the beginning, wait until ObamaCare kicks in for real] and too many workers lacking the skills to compete in the modern economy [due to a lack of education despite the fact that massive amounts of money have been poured into the educational system-- which of course includes teacher's retirement plans and their unions]," according to a University of California, Los Angeles press statement. [emphasis mine] 
In addition, the jobs being created may not provide workers with a secure future and the education system is failing to provide skills such as analytical thinking that will be crucial for future workers, he wrote.

Now if only the AP and other "news" outlets had been reporting this a few years back after the failed stimulus, then it might have actually made a difference to America in the near future. Instead, we have four more years of Obama's probably illegal executive actions that will continue the push the same idiotic trends that have been stifling real growth for slightly more than four years now.

Can America slip back into a double dip recession? Yes, we can!

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