Saturday, July 28, 2012

Words vs deeds

The following graph from the Bureau of Economic Analysis tells the story this month:


President Obama has promised us lots of things since he took office, but in the end results matter more than words. We are having the worst recovery on record, a far worse recovery that President Reagan's 1982-85 recovery.  He would like to blame it on all kinds of things - the Republicans, the Euro crisis, President Bush, the millionaire CEOs, etc, etc, etc.  But in the end, he has been at the helm through this recovery, so inevitably he owns this recovery for better or for worse -- and it seem to be worse, looking at the last quarter's miserable 1.5% growth rate.