When President Obama took office in 2009, he could legitimately say that the recession started under President Bush. That isn’t the case now that the economy shrunk in Q4 of 2012:
WASHINGTON—U.S. economic momentum screeched to a halt in the final months of 2012, as businesses pared back inventories and government spending fell sharply, while lawmakers struggled to reach a deal on tax increases and budget cuts.
The nation’s gross domestic product shrank for the first time in three and a half years during the fourth quarter, declining at an annual rate of 0.1% between October and December, the Commerce Department said Wednesday.
Conservative analysts have half-kiddingly said that the mess he inherited on Inauguration Day, 2013 is worse than the mess he inherited in 2009.
President Obama’s anti-capitalist policies have crippled several industries, including the natural gas and coal mining industries, the health care industry and community banks. President Obama’s chickens have come home to roost.
If history were to be written today would note that he was the biggest foreign policy/national security president since Jimmy Carter and the worst economic president since Herbert Hoover.
The Affordable Care Act is crippling the economy with its tax increases:
Boston Scientific said this morning that it is planning to cut more jobs, nearly doubling the restructuring it started in 2011.
The company expects the new round of cuts to range from 900 to 1,000 positions, including layoffs as well as the elimination of unfilled positions.
This is a continuation of the Affordable Care Act employment cuts. Thanks to the ACA’s onslaught of tax increases, companies like Boston Scientific are eliminating jobs to maintain profitability.
The sad part is that the Obama economic disaster continues, meaning more families will get hurt.