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Don’t Expect a Strong Recovery

Here’s an excellent analysis by the Wall Street Journal that  discusses the history of recessions and economic recoveries in the United States and how deep recessions are generally followed by robust recoveries until now:

Since the current recession has lasted a record seven quarters—and has been marked by a near-record average GDP decline of 1.8% per quarter—we should be witnessing the start of a powerful and sustained recovery. Yet forecasts of a 2% recovery in growth are only one-fourth as strong as postwar experience suggests. Meanwhile, unemployment sits at a generational high of 10.2%.

Why all the pessimism? The source appears to be a growing fear that the federal government is retreating from the free-market economic principles of the last half-century, and in particular the strong growth policies that began under Ronald Reagan. A review of the economic policies instituted by President Barack Obama and the Democratic-controlled Congress lends credibility to this concern.

The article goes on to lay out their reasoning that we may not recover anytime soon.  They cite the failed ’stimulus package’, future increased taxes, government takeovers in the private sectors, the future costs and mandates included in the administration’s climate change and heathcare bills, future increased interest rates, inflation….the list goes on and on.

And I think they’re right.  We’re in DEEP trouble folks.  Our government is in the process of destroying the country.  Time to wake up and take back our freedom!

The Fed Up American

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Posted in 2010, Deficit, Fed Up With Congress, Fed Up With Obama, Healthcare, Spending, Taxation.

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