The View

Posted on July 30, 2010

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The President went on the View and told everybody that the economy is not as bad as people say. His plan is working and should continue to work.

But the new numbers just released today paint a very different picture. The Commerce Dept. report states the recession is deeper that previously estimated. And unemployment numbers will not drop this year. And we could be headed into a  double-dip recession. The economy shrank 2.6 % in 2009, the steepest drop in 64 years.

Something to keep in mind. It takes 3 % growth in gross domestic product to create enough jobs to keep up with the population increase. Growth would have to be equal to 5 % for a full year to drive unemployment down 1 percentage point. After almost 1 trillion dollars spent, we’re at a “toss up” with just keeping up with the population growth.

And this guy thinks all is well. Not as good as he would like but on the right track. If this economy is on the right track , get me off the train. I’ll walk…

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