Remember when the failed gay president blamed the Japan tsunami for his horrific economy? Apparently the Japanese didn’t get the “poor me” memo, as their economy is already growing at double the rate of the United States.
Japan’s economy grew an at annual rate of 4.1 percent in the first quarter amid a gradual recovery from last year’s catastrophic earthquake and tsunami.
The Cabinet Office said Thursday that the preliminary growth figures showed that a rebound in consumer spending was lifting the world’s third-biggest economy.
After the March 11 disaster last year, many Japanese were in mourning and stayed away from stores, theaters and pubs. That compounded the damage from disruptions to manufacturing in northeastern Japan, where many auto and electronics plants ground to a halt, and other parts of the country.
The latest data showed that private consumption grew at an annual rate of 4.4 percent. Consumer spending makes up more than half of Japan’s economy.
“The numbers show a solid Japanese economic recovery,” said Satoshi Osanai, economist at Daiwa Institute of Research in Tokyo.
So while Obama blamed a natural disaster for his economic disaster, Japan is steaming ahead while we’re stuck at a meager 2.2%, which was worse than the last quarter of 2011. The people of Japan overcame an epic disaster. Let’s hope we overcome our own disaster by defeating Obama in November.