Category Archives: Economics

The US Economy

…is not doing fine:

Earlier this year, the Obama White House predicted the economy would grow 3% in 2012. Today’s GDP report shows that ain’t going to happen. The Commerce Department said the economy grew at an anemic 1.5% annual rate from April through June, after a revised 2.0% in the first quarter. It now seems likely the economy will be lucky to grow at 2% for the entire year. And that’s after growing just 1.8% last year.

Check out the comparison between the Reagan recovery and the Obama “recovery.”

At this point, I think it’s fair to say that Obama built that.

“You Didn’t Build That”

The policy consequences.

As Glenn says:

The key policy implication is that if he can convince enough people that you didn’t earn your success, he’ll face less opposition when he tries to take the fruits of your success for himself. And that’s what this whole “you didn’t build it” thing is about. I’m not taking your property away — it was really mine all along!

Yup.