White House Panic: Gruesome 2012 Economic Forecast Could Doom Obama

Posted by on Jan 31, 2012 at 8:56 pm

That’s one ugly stat piled atop the next.  Trillion-plus-dollar deficits in every single year of Obama first (and possibly only) term.  Unemployment creeping back north toward nine percent (remember, the White House projected that joblessness would have sunk below six percent by the end of this year, due to their $825 Billion “stimulus”).  And worst of all, very sluggish growth — the engine that has the capacity to make all of these numbers if it weren’t gummed up with destructive regulatory and spending policies.  The US economy grew at 1.7 percent in 2011, which is roughly half of the final 2010 number.  In light of those entrenched struggles, CBO is pegging our growth target at a measly 2.0 percent for 2012.  Keep in mind that any happier numbers you coming from the Obama people are likely premised on much more robust growth forecasts.  That level of economic expansion has yet to materialize, and the president is only proposing more of the same:  Higher spending and raising taxes on job creators.  Great.  Incidentally, these 2012 debt projections are actually lowball estimates.

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2 Responses to “White House Panic: Gruesome 2012 Economic Forecast Could Doom Obama”

  1. spepper on 1/01/12 at 7:18 am

    Don’t worry, they will go into full “it’s Bush’s fault” mode regarding the economy, from now til November– they ain’t done riding that “donkey”. Look for code words like “we’re working to correct the mistakes of the past”, “our job isn’t finished”, etc. Classic incumbent-speak.