Economic Outlook: Worse after the Election

Despite everything Obama has done to ruin it, the economy is getting better.  And while a growth rate of 2.3% and an unemployment rate of 8.3% are not exactly worth bragging about, the president is doing just that.  The direction of the economy, it seems, is more important than the record of the past three years. The problem is that the present direction is largely the product of this administration's unprecedented deficit spending and of monetary loosening on the part of the Fed.  Once these forms of stimulus are withdrawn, as they must be after the election, the direction of the economy will reverse. The real question for voters is not direction of the economy in the months leading up to the election.  It is Obama's record over the previous four years and the likely direction of the economy after the election. Half of that information is already known.  In what may be the understatement of the year, the Congressional Budget Office recently noted that "in the...(Read Full Article)