Friday, June 5, 2009

Failure Of Obamanomics

Via Dick Morris

The data is in for April:

1. Household personal income (inflation adjusted) rose but every penny and then some, went into savings or paying down debts. Consumer spending, on which Obama is betting to stimulate the economy, actually fell. None of the stimulus money was sent there. None.

2. Meanwhile to pay for this stimulus spending that didn't stimulate, Obama had to borrow so much money that long term interest rates have almost doubled since he took office, forcing postponement of abandonment of business expansion and hiring across the board.

What a record

Rest here from Jewish World Review