Tuesday, March 24, 2009

Obama and Geithner receive low grades from Economists.

I wonder should I express shock or sarcasm? Obama's hypnotic popularity goes over well with the bottom feeders of American society, but his policies aren't popular with Economists. Economists are picking up on what people on Wall Street already knew about Obama's handling of the economy. Obama's goal is to undermine the economy at every turn. It is foolish for anyone to think Obama wants to pull this country out of it's recession. His own chief of staff Raum Emanuel even said "A crisis is a terrible thing to waste". Economists have given Obama and Geithner low grades, but the economists don't understand that Obama really could care less. So much new debt has been issued within the last sixty days, the thought of a sustained economic turnaround almost seems like a joke. Eventually taxes will have to be raised on people making "BELOW" two hundred and fifty thousand dollars a year to pay for it all. Obama knows this. As taxes are raised through all income levels, they're will be less spending to stimulate the economy. The Gross Domestic Product aka GDP is the measuring gauge for economic activity. GDP is driven by consumer spending. The economy really slowed down last summer when gas prices hovered over four dollars a gallon. The high gas prices acted as a huge tax. When people were spending so much on gas, it left very little to spend in the economy. That played a role in causing the slowdown. With the dollar weakening, the price of oil and gasoline are going back up. The rise of gas prices in the face of an economic retraction is not a good combination. Do Obama and Geithner deserve and "F" grade? What do you think?


Blogger The Vegas Art Guy said...

An F? More like a very low D. And I mean like 60.2%. Check back with me in a week or two.

11:12 PM  

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