GARY ON THE PRESIDENT TAKING VICTORY LAPS ON THE ECONOMY!

We  guess when a lot of things are going wrong, a President must hang their hat on something good. Surprisingly, President Obama chose the economy in the past week. Really? Didn’t we just have a -2.9% GDP quarter/ But of course, that was only weather. To be fair, the economy is better. The economy is improving. Finally, there may be some traction. But let’s get some facts to the forefront here…just the facts. Since the President became President, he has overseen:

$7 TRILLION IN ADDED DEBT. This is far and away a record for that amount of time. Of course, this coming after promising to cut the debt in half. This comes after the 2nd worst President with our tax dollars, George W. Bush.

A CRASH IN THE EMPLOYMENT PARTICIPATION RATE. Add half of this fake list back in and you get an unemployment rate around 9%. We are still waiting for this list from the Labor Department.

MASSIVE YEARLY DEFICITS. After single-handedly raising the yearly deficit to over $1 trillion, the President is patting himself on the back that it is down to $600 billion.

A HUGE INCREASE IN FOOD STAMPS AND OTHER WELFARE-type payments. In fact, the government lowered the restrictions and actually advertises for people to get on welfare.

A MANIACAL FEDERAL RESERVE that not only keeps rates down at 0% but also printed trillions to fund the deficits at lower rates.

FEDERAL SPENDING that doubles the last year of Clinton’s presidency. If you want only one stat on why this economy cannot reach its full potential, it is that the government now spends between $3-4 trillion each year…which comes out of the real economy.

Higher taxes…massive regulations…giveaways to buddies(green energy)…takeaways from enemies(coal companies). Have you seen the stock charts of the coal companies?

We can go on and on…one can talk GDP all they want…a good quarter, a bad quarter. The bottom line is that longer term, this country is being saddled with debt that will be very hard to come back from. We pray that the markets don’t wake up one day and shoot the middle finger at all this debt and deficits as well as anti-business policies.