More evidence that the Obama administration economic policies are failing: the Commerce Department has downgraded their earlier assessment of Q2 growth from the previous report of 2.4% to an actual of 1.6%. That’s less than half of what Q1 showed.
It’s time to face the facts: you don’t boost economic health by creating massive federal debt, taking over significant chunks of the private sector, creating massive new bureaucracies that to hobble what parts of the private sector you’re not putting under direct government control already, and trying to gin up class warfare that results in what success stories still exist in the private sector refusing to risk growing any further. There’s a lot that’s been put in place over the past 19 months that needs to be removed. They were bad ideas when they were proposed, people who know this stuff said they’d result in even further slowing of the economy and lower tax revenues, and the results now in the books have proven those people right.
Of course, this administration will do no such thing. They’ve invested everything into passing this agenda and to pull any of it back would be admitting they set us on the wrong track. It’s up to we, the people, to handle it for them and we can start that process in earnest on November 2nd.