“We had reversed the recession, avoided a depression, got the economy moving again. . . . But over the last six months, we’ve had a run of bad luck.”
— President Obama, Decorah, Iowa, August 15
A troubled nation wonders: How did we get mired in 9.1 percent unemployment, 0.9 percent growth, and an economic outlook so bad that the Federal Reserve pledges to keep interest rates at zero through mid-2013 — an admission that it sees little hope on the horizon?
Bad luck, explains our president.
Moreover, luck is the residue of design, as Branch Rickey immortally observed. And Obama’s design for the economy was a near–$1 trillion stimulus that left not a trace, the heavy hand of Obamacare, and a flurry of regulatory zeal that seeks to stifle everything from domestic energy production to Boeing’s manufacturing expansion into South Carolina.
He sowed, he reaps.
[Read on at above link.]