Obama Owns the Double Dip

Posted by on August 1, 2011 10:41 pm
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The country received more bad news this morning. No, not that news, not the satan sandwich, sad though it may be. The manufacturing numbers released today are further confirmation of what Americans already suspect. The American economy has slipped back into recession. The signs of downturn are everywhere.

Was the economy ever really improving? At best it was a very weak recovery. The recently revised GDP growth for the first half of 2011 is .8%. Pathetic. Nearly three years in, this dead economy and the double dip belong to Obama. It’s on him, so give it to him:

While the horrible economic news might be unexpected to Obama supporters and the mainstream media (but I repeat myself), how could anyone expect the economy to come roaring back? Our socialist president has done just about everything wrong that he possibly could. Did anyone besides Nancy Pelosi really think Obamacare would grow jobs? More likely the right question is does the president really want to grow private sector jobs? He seems most intent on growing government and virtually all small businessman view that as a threat. They are hunkered down and the bigger businesses are concentrating on their profits, cash reserves and squeezing the last ounce of productivity out the employees they have left.

Where’s the jobs? Don’t ask President Obama. . . even his favored government jobs are disappearing as the deficit spending begins to bite and the nation’s GDP heads south.

“Our GDP number on Friday was an indication that states and local governments, which make up 12 percent of GDP, are really pulling back,” she added. “We’re certainly in a double dip on housing,” which is putting “enormous pressure on the economy.”

The states most tied to housing have had to cut social programs and raise taxes, which, in turn, pushes home values down even further, she said. Those states with “clean” balance sheets in areas she calls “the emerging markets of the United States” attract more business, have more tax surpluses and don’t have to raise taxes.

Some states are in bad shape because they relied so heavily on federal stimulus money, which ran out at the end of June, she said. Forty-six states have passed balanced budgets that include big cuts. –Merideth Whitney for CNBC

What of the $850 Billion in Obama stimulus? Black hole, nothing more. Wasted on nonsense and unions. It proves what the sober voters were thinking back before the ’08 election. Obama is a zero, a total dipstick. Now, we have proof the president is a double dip…stick.

5 responses to Obama Owns the Double Dip

  1. Queen Hotchibobo August 1st, 2011 at 11:12 pm

    I cannot think what might have caused our economy to drop back into the toilet this way. Thinking…thinking…thinking.

    Hmmmmm. Could it be?

    2009 2nd Qtr:…..-.7%
    2009 3rd Qtr:…..1.7%
    2009 4th Qtr:…..3.8%
    2010 1st Qtr:…..3.9% (Obamacare passed March 2010)
    2010 2nd Qtr:…..3.8%
    2010 3rd Qtr:…..2.5%
    2010 4th Qtr:…..2.3%
    2011 1st Qtr:…..0.4%
    2011 2nd Qtr:…..1.3%

    Nah. That’s a coincidence, I’m sure.

    • texasgalt August 2nd, 2011 at 12:01 am

      I’d say Obamacare is a huge factor. Perhaps you saw today the new Mandates from Sebelius: health insurers must provide birth control WITHOUT copays, well-woman annual visits and more.

      If they put on enough mandates, they’ll kill private insurance and the public will ask for single payer. That’s the plan.

      • Queen Hotchibobo August 2nd, 2011 at 5:36 am

        And to expand on this thought just a bit, it is certain that Obamacare is a factor, but the fact of the matter is, it kicked in at about the same time as a bucket load of other Democrat dream issues.

        They started giving the unions and NLRB power and control over companies (well documented by Labor Union Report on that little linky to the righty), threatening the private sector with takeovers, tax increases, regulatory burden, carbon dioxide taxes, etc. at the same time as they passed Ocare. It’s hard to isolate which one of these actions did the most damage.

        It’s kind of like deciding which straw broke the camel’s back. None of them did, yet all of them did.

        And yes, there’s been no question all along that they intended to break the private insurance market. There was even that speech by one of their henchmen where he disputed that it was a Trojan horse designed to do so. He said it wasn’t hidden at all. It was a clear part of the plan and agenda. As soon as people can’t buy insurance, Uncle Sugar to the rescue!

  2. Queen Hotchibobo August 1st, 2011 at 11:14 pm

    And if I’m not mistaken, GDP includes spending by government as well as individuals and business. Imagine what it would be if they weren’t injecting borrowed money to the tune of a trillion and a half dollars a year into the numbers. No wonder Americans are worried and feeling broke.

    • texasgalt August 2nd, 2011 at 12:03 am

      I might be of a different mind, that over time all the government spending crowds out the private sector.

      Our government actually believes it can bring prosperity by suppressing interest rates indefinitely and printing boatloads of money.

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