Thanks Obama: A Decade of Sub-3% GDP Growth
Hopefully, Obama hasn’t “fundamentally transformed” the economy.
Hopefully, Barack Obama hasn’t “fundamentally transformed” the American economy. The Bureau of Economic Analysis recently reported that the United States has experienced 10 straight years of GDP growth below 3% — a first since the agency started to track the data in 1929. Furthermore, a report that Obama’s economic advisers sent to Congress predicted much of the same economic activity for the next few years. It predicted the once great American economy would only increase the GDP by 2.7% for 2016, and decline after that. This isn’t normal, as every American recovery since the 1960s experienced an average GDP growth of 3.9%. Sen. Dan Coats, who chairs Congress’ Joint Economic Committee, said he will investigate the causes of the crippled economy at an upcoming hearing. “In order to boost GDP,” Coats said, “we need to overhaul our tax code and strip away unnecessary government regulations to give employers the confidence they need grow their businesses and create new jobs. Congress can take action to help grow our economy, but we need a willing partner in the White House.” Indeed, Americans need to see past Obama’s economic fantasies and elect someone who understands that the American economy needs Liberty to thrive.
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