The king of crap speaks again. Now they are trying to make you believe this President has nothing to do with the massive deficits. Oh yeah…election year combined with the fact they think you are dummies! Read this:
Disappointing GDP number — we’re not growing fast enough to make any significant headway on reducing the output gap — but hey, no need for further Fed action.
But let’s talk right now about fiscal policy. I wrote this morning about our de facto austerity. Here’s another indicator. Look at government (all levels) purchases of goods and services, that is, actually buying stuff as opposed to transfer payments like Social Security and Medicare.