You call this a “recovery?”

Fox News Forum
by John Lott

08/27/10

So this is the economic growth that by far the largest Keynesian stimulus in American history produces? President Obama’s $814 billion in stimulus, a more than $1.3 trillion annual deficit for the second year in a row, has produced what the administration has declared is the long awaited ‘Summer of Recovery.’ Last fall the economy grew at a reasonable 5 percent annual rate, though even that was not particularly fast for a ‘recovery.’ Yet, it has dropped since then: during January through March, the growth rate dropped to 3.7 percent and April through June, 1.6 percent. … Since April, the Bureau of Labor Statistics Household Survey has shown that 1.7 million Americans have left the labor force and simply given up looking for work. The total number of people employed has dropped by nearly half a million...

http://tinyurl.com/27d29nu


Informant: Thomas L. Knapp



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