Saturday, March 20, 2010

Economic recovery is a sham.

Who says that? None other than former Labor Secretary (a certified Liberal) Robert Reich, writing in the Huffington Post. Reich refers to the economic numbers of the Obama regime as "smoke and mirrors." He further cautions that the billions of the "stimulus" are happening at the cost of increased national debt that will have to be repaid in the future. So far, this stimulus has been used mostly to prop up State government unions and other, favorite pork barrel projects.

What about the economic "growth" toward the end of 2009? Smoke and mirrors there, too. Third quarter "growth" (originally reported as 3.7%) has been revised three times by now to 2.2%, due almost all to government spending. Fourth quarter growth has not been revised yet, but it was due to govt spending and some inventory buildup.

THERE IS NO ECONOMIC RECOVERY!

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