Obama's economy: Where is that pivot now?EDITORIAL
May 29. 2014 10:02PM
With the VA scandal crowding out other news and more members of Congress calling for action from the administration, this would have been a perfect week for President Obama to make one of his famous “pivots” to the economy. Yet, that signature move was rendered ineffective as news came that the U.S. economy contracted in the first quarter of the year. Maybe he can release his 2015 NCAA men’s basketball tournament bracket 10 months early.
Even before the recession ended nearly five years ago, the President was promising us that he will lead us to a real recovery. It will be achieved through the implementation of his genius policies. The stimulus, Obamacare, “investments” in industries chosen by him, tax hikes on industries he dislikes, all of this will lead to good jobs and real growth.
Yet 2014 started with a shrinking of the Gross Domestic Product by 1 percent. The unemployment rate continues to decline only because hundreds of thousands of Americans have given up looking for work they know they will not find. And this week the President gave two commencement addresses, spoke at a science fair and a sports conference, and attended a Democratic Party fund-raiser. Maybe one of the science projects was a machine that creates economic growth.