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  • October 2010
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links for 2010-10-14

  • // learned a new word
  • Quote:"Based on the … history and rhythms of the American economy, we should have had a booming recovery by now. Even more so, since the deeper the recession the stronger the recovery. Real economic growth in the first 4 quarters of Reagan's recovery from the deep 1981-82 recession was a whopping 7.7%. Even the recovery under prez Ford from the deep 1973-74 recession sported real economic growth of 6.2%.

    But under President Obama we are already in another downward spiral, with real growth falling from 5% in the fourth quarter of 2009, to 3.7% in the first quarter of this year, to 1.7% in the second quarter.

    Moreover, as the brilliant economist John Lott explained for FoxNews.com yesterday, the base unemployment rate has been stuck at least at 9.5% for 14 months now, three full percentage points higher than the mean unemployment rate during the recession. Since Obama became President, the U.S. unemployment rate has increased faster than 25 of 30 other major industrial nations