Read more at http://www.thefiscaltimes.com/Columns/2013/01/30/Someone-Should-Tell-Obama-Its-Still-the-Economy.aspx#so0leoljL2HDi1Rx.99
Employer-provided birth control. Binders full of women. Mitt Romney’s tax returns. All of the issues that had attracted so much attention in 2012 belied the fact that the US economy had been stagnating ever since the recovery technically began in June 2009. From that point forward, the workforce declined and jobs failed to materialize in large enough numbers to keep pace with population growth.
The disconnect between politics and reality reached its apex in the President’s inaugural speech, which mentioned the word “economy” once, and jobs only twice. The press lauded it as a progressive masterpiece, hailing “collective action” as the solution to the nation’s ills. Barack Obama talked about renewable energy, climate change, and gay rights, but somehow skipped over the entire issue of job creation and economic expansion.
On Wednesday, the economy took over center stage again. While Washington opened a long-delayed debate on immigration reform and the Department of Defense started another on women in combat, the Bureau of Economic Analysis dropped a bombshell on the media in its advance report of economic growth in the fourth quarter of 2012. The American economy contracted for the first time in nearly four years, with a GDP growth rate of -0.1 percent.
Read more at http://www.thefiscaltimes.com/Columns/2013/01/30/Someone-Should-Tell-Obama-Its-Still-the-Economy.aspx#so0leoljL2HDi1Rx.99
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