Obama has spent the last year running around the country claiming that the economy is doing better than ever but average Americans who are struggling know better.
The new GDP numbers are also out and they paint a different picture than Obama’s words.
FOX News reports:
The new GDP numbers are terrible. No wonder Hillary won’t talk about the economy
No wonder Hillary doesn’t want to talk about the economy.
We got revised GDP numbers from the Commerce Department on Friday and the economy actually did slightly WORSE than originally estimated. Growth was 1.1 percent in the second quarter of this year and less than 1 percent for the first six months of 2016. The business sector of the economy has sunk recession territory. Profits are srinking (down 2.4 percent last quarter) so how long can the stock market rise?
The consumer is keeping the economy out of negative territory, but that’s only because we are spending more than we are earning.
How long can that go on? About as long as the housing bubble could inflate without bursting.
For years the polls have shown that Americans are hyper-concerned about the economy and job security. That was when the economy was growing at a meek 2 percent. Now at 1 percent, we aren’t just treading water, more families are being plunged underwater.
This is some recovery. Under Reagan we had growth rates quarterly of 5, 6 and even 7 percent. Economists in the ’80s worried about overheating. Too much growth. Now growth is nowhere to be seen – except for those at the very top of the income ladder.
Hillary won’t even give a press conference, much less talk about the economy.
Whenever she does talk about the economy, she tends to recite the talking points of the Obama administration.