The Unstimulated Obama Economy
Newsflash from The New York Times: President Barack Obama’s stimulus did not work. No, the Times doesn’t say that in so many words, but in an op-ed this morning, the paper laments the sputtering economy and the fact that Washington just isn’t doing enough to help the economy grow. The problem, of course, is that Washington has done too much of the wrong things to get the economy moving again.
The economic news that’s really sticking in the Old Gray Lady’s craw is revised data released last week that shows the economy’s growth stuck at 1.8 percent, slow consumer spending, stagnant wages, higher prices for gas and food, the poor housing market, flagging consumer confidence and a recent Labor Department report showing a higher-than-expected rise in claims for jobless benefits.