The Democrats' Real Priority

In January 2009 Barack Obama was sworn in as president.  At the time, the U.S. was in the midst of a severe recession.  The top priority for government economic policy should have been economic growth. Growth would quickly end the recession, start a recovery that should last a year or so and then lead to a six to eight percent expansion.  Unfortunately, that never happened. The Federal Reserve massively increased the money supply and dramatically reduced interest rates to near zero.  That alone should have stimulated economic growth.  Then Congress passed a massive government spending bill that resulted in the annual budget deficit topping $1.4 trillion in 2009.  The deficit stayed above $1 trillion for the next three years. That too should have led to increased economic growth.  But that didn’t happen either.  In fact, during President Obama’s eight years in office, annual growth never reached even 3%.  The historical...(Read Full Article)
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