Photo Credit: APThe Congressional Budget Office’s just-released economic forecast for 2013 is dispiriting, to say the least. The GDP is expected to grow by only 1.4%, the unemployment rate will “stay near” 8%, the deficit will reach $845 billion, and ObamaCare will cost 7 million their health insurance.
The CBO says things will improve after that, but after three years of being told by the government and its media that “prosperity is just around the corner,” you’ll just have to pardon my cynicism. The media, however, will talk only about how much better the CBO says things will get, because that’s what Obama would want them to do.
What these numbers really mean is that millions of Americans are about to face yet another year of chronic joblessness and economic hardship — which just didn’t have to happen. Reagan inherited an economy in much worse shape than the one Obama inherited. But Reagan’s tax and regulatory policies got out of the way of the economy, and as a result, the engine of American ingenuity was unleashed and the economy exploded. Millions of jobs were created, millions were lifted out of poverty into the middle class, and poverty decreased.
Obama, however, decided he knew better than history and did the exact opposite of what Reagan did. New taxes, ObamaCare, untold numbers of regulations, and an overall Narrative that toxified success, individualism, and the pursuit of prosperity.
And just look at us now.
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