Obama’s ‘hope and change’ economy for the first quarter of this year is, unsurprisingly, not the hope and change the low information voters expected. Last month, the Commerce Department of Economic Analysis reported that the economy shrank 1%, but has now updated that number nearly three times higher at 2.9% shrinkage.
This may be alarming, but it doesn’t surprise me that they get these numbers wrong, because it is not the first time Obama’s numbers have been way off. I remember the cost of Obamacare, when the CBO originally thought it would cost about $900 Billion one year, then $1.8 Trillion, and now at least $2.6 Trillion.
Another case is with our actual unemployment. Of course, we know the current national unemployment rate of 6.3% is completely inaccurate. Instead, we all know the real unemployment rate is well into the double digits because those that have gone unemployed and gave up looking for work are never included in the unemployment rate.
So given these couple of many other examples, it angers us that Obama created a -2.9% growth in our first quarter, but it is not too surprising at the same time. His wars on coal and energy, the private sector, jobs, and free market capitalism all create this recipe for disaster. As Sean Hannity has said numerous times, we can drill our way out of this, we have so much oil beneath our feet. We have oil, so much oil, that we have more than the entire Middle East combined. This is paying off for areas like North Dakota, where they are drilling on private lands, while Obama’s draconian EPA regulations are preventing further drilling on any federal land.
At this point, this -2.9% is absolutely indefensible, so the question Obama isn’t going to ask is ‘what did I do wrong and how can I turn this around?’ He will ask the question once again ‘who can I blame this time. Can I blame Bush, Republicans, Conservatives, Fox News, or Sean Hannity?’
So instead of a narcissistic president like Obama, a normal individual would take responsibility and use common sense policies to turn this disaster around. If the oil boom is working in North Dakota, which has less than 3% unemployment and creating countless private sector jobs, then it can work anywhere else in this country. We just have to keep fighting the EPA, and other wasteful government regulations that attack the private sector and economic growth. Obama’s economy is a complete disaster, and we need a great president in 2016 to turn this around.