Is Obama the “Depression President?”
The markets continue to predict the outcome of Barack Obama’s failed economic policies of massive spending and record deficits.
These numbers were released today by the Obama Administration:
The Obama plan assumes that massive government spending and record deficits are going to jump start the economy.
The Wall Street Journal breaks it down:
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After contracting at a 1.2% rate in 2009, a more modest drop than the Congressional Budget Office and Blue Chip Consensus forecasts assume, the White House sees growth domestic product growth snapping back by 3.2% next year and then 4% or higher the three years after that.
The last time the economy preformed that well was the New Economy heyday of the late 1990s.
The White House is putting all of their money, and yours, on the assumption that the elevated deficits will be beneficial to the economy.
So far the markets aren’t buying it.