The Obama GDP

By Rob Janicki
Listen carefully.  Can you hear a flushing sound?  Well now, it seems that GDP for 2011 was somewhat less than robust to say the least.  Okay, it was a pathetic 1.7%.  With growth like that the country could go right into the crapper even faster than Obama could imagine in his wildest dreams.  

Obama has repeatedly said America is not exceptional and this data does tend to confirm his statement.  GDP growth has never been this slow coming out of a major recession such as we have experienced.  We may not have experienced a double dip recession, but for all practical purposes we have not even begun the climb out of the recession of 2007-2008 and it's been three years since the One entered office and promised that he would bring unemployment to under 8%.  It's currently around 8.5% from a high of almost 10% and these are the most favorable numbers from the Bureau of Labor Statistics.  High unemployment and low GDP growth are inextricably connected as indicators of where the economy is going and it looks even more dismal with the 2011 GDP data.

With Obama at the helm for another four years, GDP will continue to flounder just as the One continues to flounder in trying to rehash and rebrand the very same mistakes he already made in trying to stimulate and manage the economy since January 2009.  The only chance America has is with a new Republican administration supported by Republican majorities in the Senate and the House.  With Republicans in control, they have the ability to get the government out of the way of business by reducing the voluminous regulations impeding growth in the private sector.  I suspect that should the Republicans win the Presidency on November 6th, that the capital markets will quickly explode in the anticipation of a more favorable business climate beginning January 2013.

Business Insider
[...]  Real GDP increased 1.7 percent in 2011 (that is, from the 2010 annual level to the 2011 annual level), compared with an increase of 3.0 percent in 2010. ... Not exactly a barnburner.   [...]