Today, the Commerce Department announced that the US economy grew at a pathetic rate of 0.1 percent during the first quarter of 2014. Naturally, the administration blamed the harsh winter. Well, I have been around for 51 years and I can remember more than a few harsh winters. I don’t recall that any of those harsh winters drove economic growth down to 0.1 percent.
President Obama took office more than 5 years ago. This is his economy. He wanted the job. Men and women who run for President of the United States are convinced that they can do the job better than anyone else. (BTW: Having a “healthy ego” may or may not lead to lower health care premiums under the terms of the Affordable Care Act).
I’m not sure which is contracting more rapidly: the US economy or American influence and credibility around the globe.
BTW: China’s economy will be the biggest in the world by year’s end.