So tell us, where's your proof of an economy in shreds?
Well, lets see.... The last time I checked, the notion of raising interest rates was based in the belief that inflation and consumer debt was running too high and needed to be checked. It seems that just today, the Feds voted to raise short term (overnight) interest rates again for something like the 11th time in a row.
High inflation is not something which happens in a good economy.
Unemployment currently remains steady at a higher than historic rates (somewhere around 5.5% although I don't remember the exact percentage) by around 1 - 1.5%. While this number is steady, it shows that we are not creating new jobs so that previously laid-off workers can get reemployed.
High unemployment is not indicative of a robust economy.
United, Delta, et al are ALL declaring bankruptcy even after the federal money bailouts. The Big 3 auto mfg's are all closing plants and laying off workers.
Big businesses going BK are not a sign of a stable, viable economy.
The stock market has been between 10,000 and 10,600 for FIVE YEARS. That's five years of zero-gain stagnatation in a marketplace that MUST grow.
A stagnant wall street is not a sign of a growing economy.
Consumer debt is on the rise. Not good either.
There's the rising imbalance between imported goods and domestically made goods.
Growing trade deficits are not a sign of domestic economic recovery.
There are other signs. Things like new housing starts being down, home ownership on the wane, the housing market slowing, mortage rates rising, stocks slipping in general with strange "product-less" compaines making the most gains (ie: Google and other companies who don't actually make anything), Blue chip companies having to cut retirement benefits or dump the retirement funds completely, Gasoline has doubled in price in ONE YEAR & heating oil prices are expect to do the same this winter, Food costs are rising, Employee wages are stagnant or falling, etc.
Last but not least, consumer confidence is way way down.
We have been dealing with financial doldrums for 6 years. Thats 6 years of tax cuts, rebates, reforms, and bailouts and there's no indication that anything is going to change EXCEPT to get worse (remember that interest rate hike I mentioned? Rates get hiked are because things are expected to worsen - not get better.)
GB would like you to think that things are rosier than they are. His press corps make statements that spin the facts. Earlier this year they even said that we were creating new jobs somewhere in the neighborhood of 2 million new jobs. When the truth of it all was determined only something like 150 thousand new jobs were created after the rising unemployment figures were factored in. And those 150K new jobs were somehow supposed to offset the 2.5 MILLION workers who have lost their jobs in the last 6 years.
I didn't make up these facts. They are out there and we've all heard of them. Our U.S. economy sucks right now and there's no end in sight. This is the legacy that GB will leave behind. This is also the legacy that GB and his supporters will try to blame on Clinton.
