The Business section of The Chicago Tribube carried a Reuters article describing a continued flat, lackluster economy. Reading this caused me to look throughout the Internet to find whom Mr. Obama is blaming for this bad news:
While the so-called U.S. fiscal cliff – a combination of expiring tax cuts and automatic government spending cuts – will be hit only in early 2013, if Congress does not act, an increasing economic toll could be exacted in the second half of this year.
“I don’t think we are going to get a resolution before the fourth quarter,” said Julia Coronado, chief North America economist at BNP Paribas in New York.
“Companies and households won’t know what their tax liabilities are going to look like in 2013, what the regulatory or spending backdrop is. It’s going to be an uncertainty which weighs on people’s ability to make plans.”
The latest Reuters survey estimates third-quarter growth at around a 2.3 percent pace, with fourth-quarter GDP at about 2.4 percent. But some economists say these forecasts already appear a bit optimistic.
“Right now we have a forecast that is around 2 percent in the second half … (and) while I expect growth to stay on track, it’s hard to point to a factor that’s going to lead to an acceleration,” said Coronado. “The risk is that the second half of the year will also lead to growth that is below 2 percent.”
Remember that quote from the film TOP GUN after Maverick buzzed the tower of the aircraft carrier, causing the XO to spill coffee all over his uniform and when he later yelled at them in reprimand? Maverick’s commanding officer said something like, “Well, I would say that just about covers the fly by!” Following is one of those reprimand quotes for Mr. Obama I would say:
“Our sense was that of a gradual improvement. Now the sense is of muddling along at a low level of activity,” said Adolfo Laurenti, deputy chief economist at Mesirow Financial in Chicago. “We went from seeing progress, though gradual and very uneven, to not seeing progress at all.”
Fortunately, most American’s believe the better person to lead us out of the ObamaMess is Mitt Romney – from Newsmax:
Romney tops Obama 52 percent to 41 percent among independent voters who were asked in a CNN poll which candidate would do a better job handling the economy.
41 percent? I can understand 4%, but 41%? I would sure like to speak to one of those “Independent” voters that thinks Obama is the best person to handle the economy — how can they think that? I keep hearing that Mr. Obama will be starting to talk about his new plans for a better economy. He better start talking fast. The Newsmax article closes with this:
Romney has a 10-point advantage over Obama when Americans were asked which candidate would do a better job dealing with the federal budget deficit.
Obama led by 8 points on foreign policy and by 7 on healthcare. Romney holds a 3-point margin on illegal immigration, the CNN poll said.
“Not surprisingly, the poll indicates that the economy’s the public’s top issue, the only topic that more than half say will be extremely important to their presidential vote in November,” Holland said.
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