President Obama, in speech after speech, proudly makes the following point: Although we inherited the worst recession since the Great Depression, we have generated net new jobs every month, and while we need to do more, we are going in the right direction.
Of course, recoveries always go in the right direction—that is, things get better over time. But merely going in the right direction is an incredibly low performance standard. Moreover, since deep recessions are generally followed by more robust recoveries, this should have been one of the strongest recoveries ever.
So what went wrong? All the available Keynesian levers for achieving economic growth have been pulled, yet the recovery is one of the weakest since World War II.Yes, the shrinking government employment and spending is really pulling those Keynesian levers.
Indeed, this administration has been overtly hostile to business across the economy except for progressive favorites like electric cars or wind and solar power.That must be why the stock market is up 50% since he took office and the Fortune 500 are raking in record profits.
What a douche.