Ah yes, we’ll always have the Summer of Recovery. That was back in 2010. It was you, me, Biden, and Obama – just soaking up the recovery rays, the pina coladas, and the good vibrations.
Okay, I know it’s just my imagination. The Summer of Recovery didn’t happen. It was a Summer of No Recovery. By the first quarter of 2011, the economy was actually contracting again.
And it never happened, the Summer of Recovery, even all these summers and winters later.
But I also know that somewhere out there, there’s a Summer of Recovery. I can see it. And you can’t tell me there’s never going to be a recovery under President Obama.
But you can tell me that the seasonally adjusted rate of increase in gross domestic product for the fourth quarter of 2013 was just downgraded by the Commerce Department from a decent 3.2 percent to a crummy 2.4 percent, bringing growth for the entirety of 2013 to 1.9 percent.
You really, really have to try hard to keep the U.S. economy down this far for this long. It’s a striking achievement.
And 2014 might not be much better. According to the Wall Street Journal:
The initial reading for the fourth quarter had raised hopes for stronger growth, faster job creation and better wages in 2014. Instead, the economy appears to be reverting to its postrecession path, with overall growth remaining stubbornly close to 2%.
Meanwhile, other recent gauges of consumer spending, job creation, factory output and the housing market all have flashed warnings signs. While heavy winter storms may have depressed or delayed some activity, the poor numbers have raised concerns about the strength of the economy in the early part of the year.
Let’s be frank. Some Republicans, no doubt, secretly want the economy to fail so Obama will look bad. Just as some Democrats hoped it would fail under Bush.
Well I sure don’t! I’m runnin’ my own business here. I got other things to write about than a staggering economy.
Come on Obama, do it! Go Obama!
But alas, when your saddling the economy with endless new regulations, inflicting socialized medicine on it, trying to do things like harm business by raising the minimum wage, claiming that disincentivizing work is a good thing, and spending your time at White House Student Film Festivals – Obama’s big event for today – the Summer of Recovery remains just a dream.
But oh, you pessimists. It will happen. Obama will get serious about fixing the economy and not just pursuing his own stuff.
And then we’ll be singing songs of recovery, dancing the recovery dance, and offering Hossanas to the Obamas for finally keeping their promassas.