Is Barack Obama the Depression President?

Is Obama the “Depression President?”

The markets continue to predict the outcome of Barack Obama’s failed economic policies of massive spending and record deficits.

Things don’t look so good right about now.
Team Obama projects a record $1.75 trillion budget deficit this year:

CBO chart via RedState

These numbers were released today by the Obama Administration:

The Obama plan assumes that massive government spending and record deficits are going to jump start the economy.
The Wall Street Journal breaks it down:

After contracting at a 1.2% rate in 2009, a more modest drop than the Congressional Budget Office and Blue Chip Consensus forecasts assume, the White House sees growth domestic product growth snapping back by 3.2% next year and then 4% or higher the three years after that.

The last time the economy preformed that well was the New Economy heyday of the late 1990s.

The White House is putting all of their money, and yours, on the assumption that the elevated deficits will be beneficial to the economy.
So far the markets aren’t buying it.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

You can email Jim Hoft here, and read more of Jim Hoft's articles here.

 

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