Obama has drastically screwed up the economy. He has sucked billions out of it, by wasting federal money on giveaways to his political cronies. Whereas wise savings and investment creates more money, unwise splurging by the Federal government creates nothing, and wastes a valuable resource.
When individuals spend, they spend on things that keep the ball rolling, econonomically speaking. When government spends, they waste it. They might as well have burnt the money.
So now, the Washington Post wants to say the poor economy is not Obama’s fault. It’s because consumers are not spending their money, as the government wants them to do. These doldrums are going to last forever:
With consumers destined to disappoint for many years, economy is unlikely to recapture prosperity of quarter-century that preceded financial crisis.
But it’s not the consumers. It’s the government. Government keeps threatening business. It keeps raising taxes. It has provided the one thing that kills business – uncertainty. You dare not spend these days, because the crazy government might decide that you are an enemy of the people by doing so. So businesses wait, they accumulate cash.