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FLOTUS: We’re in the midst of a huge recovery

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By Doug Powers  •  October 15, 2012 03:43 PM

**Written by Doug Powers

“I expected the Rocky Mountains to be a little rockier than this.”
-Harry Dunne, Dumb & Dumber
*****

Some of us might have had similarly higher expectations for this “huge economic recovery”:

Pablo Sato, co-host of Pablo & Free on WPGC 95.5, a Washington, D.C.-area hip-hop radio station, asked the first lady: “Mrs. Obama, you know what, in your words, tell us what you think the state of the union is in right now?”

Mrs. Obama said, “I mean, we are seeing right now that we are in the midst of a huge recovery. Right? Because of what this president has done.”

Free: “Yes.”

Obama: “Pulled this economy from the brink of collapse when we were losing 800,000 jobs a month. Now were gaining every — throughout most of his presidency, we’ve been adding jobs to this economy because of what he’s been doing. The stock market has doubled. Housing prices are rising. Foreclosure rates are lowering. But in the face of that, you still have people trying to convince us that things aren’t better.”

CNS News adds:

According to the Bureau of Economic Analysis (BEA), the real gross domestic product (GDP) increased by 1.3 percent in the second quarter of 2012, down from 2.0 percent from first quarter 2012.

The BEA data also show GDP growth of (negative) – 3.1 percent in 2009; 2.4 percent in 2010; and 1.8 percent in 2011.

In addition, the Bureau of Labor Statistics (BLS) shows that the national unemployment rate is 7.8 percent, the same rate as when Barack Obama was inaugurated as president in January 2009.

As Bill Clinton might say, “it depends on what your definition of ‘huge recovery’ is.”

Couple that with things such as food stamp usage setting new records every month, disability claims going through the roof and continued high gas prices along with four straight years of trillion dollar deficits and a national debt over $16 trillion and climbing with no end in sight. Given those factors an actual recovery is not only difficult, but nearly impossible.

**Written by Doug Powers

Twitter @ThePowersThatBe

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