Wednesday, June 15, 2011

DNC Chair: We Own Economy (Worst Since Great Depression)

Debbie WasAMan Schultz (D-Fl), may soon be replaced as DNC chair. She admitted what all of us know--this is Obama's and the Democrats economy. In a presser today:

We own the economy. We own the beginning of the turnaround and we want to make sure that we continue that pace of recovery, not go back to the policies of the past under the Bush administration that put us in the ditch in the first place,

Really? The economy is turning around...we have a recovery? Even the MSM doesn't buy Debbie's spin. Go to this link and see how David Gregory laughs at the notion we are in recovery....

You have to be scorned and laughed at if you think the economy is recovering and the ship is righted. Look at some of these sobering statistics as referenced in the Weekly Standard:
for the nine economic quarters that Obama has been in office (including the first quarter of 2009, during which President Bush held office for 19 of the 90 days), real annual growth in GDP has been just 1.5 percent. That’s less than half the annual GDP growth during the 1940s, 50s, 60s, 70s, 80s, or 90s. Even more striking is that the rate of growth under Obama has been only slightly higher than during the 1930s — which, of course, was the decade of the Great Depression. In the 1930s, real annual GDP growth was 1.3 percent — just 0.2 percent less than under Obama.

I can already see Obama's new campaign slogan: Obama--I suck 0.2% less than the Great Depression!

This President is more costly than wars...check this out:
Obama is already responsible for $4.4 trillion in actual or projected deficit spending, which amounts to deficit spending at a rate of 9.7 percent of GDP. To put that into perspective, the only deficits in more than 200 years of American history that have exceeded even 6.0 percent of GDP have all involved either the Civil War, World War I, World War II, or Obama.

It is not just spending and GDP growth that are signs that Obama has led us to a replay of the Great Depression. It is housing as well:
prices fell in March to their lowest point since the downturn began,
erasing the last little bit of recovery from the depths plumbed two
years ago, according to data released Tuesday.

The Standard &
Poor’s Case-Shiller Home Price Index for 20 large cities fell 0.8
percent from February, the eighth drop in a row. Prices are now down
33.1 percent from the July 2006 peak.

“Home prices continue on
their downward spiral with no relief in sight,” said David M. Blitzer,
chairman of the S.& P. index committee.

Housing is in
persistent trouble, industry analysts say, not only because so many
people are blocked from the market — being unemployed, in foreclosure or
trapped in homes that are worth less than the mortgage — but because
even those who are solvent are opting out.

The desire to own your
own home, long a bedrock of the American Dream, is fast becoming a
casualty of the worst housing downturn since the Great Depression.

And a dumb yutz like Debbie WasAMan Schultz say the Dems and Obama own the economy? You are damn right they own it. They have destroyed it. They broke it and broke our nation.