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Obama’s America has Worse GDP Growth than Cuba
Posted By Daniel Greenfield On October 2, 2012 @ 2:26 pm In The Point | 22 Comments
What it took Castro over 50 years to Cuba, Obama has managed to accomplish in less than four years and without complete dictatorial powers (only partial dictatorial powers). Now how can anyone call him a failure after that?
The United States is already below 75 percent of the world in GDP growth. That means we’re well below Egypt, Mexico and Albania. Forget beating China, which is No. 10 while we’re No. 166 and falling, we need to start figuring out how to get ahead of our immediate rivals, Bosnia, Jamaica and Cuba.
After a weak 2011 when GDP growth was just 1.8%, this year’s growth rate looks even weaker. Today the Commerce Department revised second-quarter GDP growth to just 1.3% (1.25%, actually). As a result, many banks are now looking for growth of around 1.5% for the rest of the year — with plenty of downside risk. Full year GDP might be less than 1.5%, putting the economy at heightened risk of falling back into recession.
Meanwhile over in Cuba, where their Socialists are slightly more competent than our Socialists…
Cuba’s gross domestic product grew 2.1 percent in the first half of the year compared with the same period in 2011.The economy grew 2.7 percent in 2011 despite tough austerity measures imposed by President Raul Castro beginning in 2009.
Government officials have said the goal is to achieve 3 percent GDP growth in 2012.
Hey remember when America used to have 3 percent GDP growth?
It was a different time. George W. Bush was in the White House and Bon Jovi was on the radio singing, “Have a Nice Day”. Star Wars: Episode III – Revenge of the Sith ruled the box office and Saddam Hussein was on trial. Then a year later Nancy Pelosi and the Democratic rat pack got in and two years later the really huge rats climbed over the fence and began gnawing on the White House furniture and now we’re losing to Cuba.
Viva la Revolución! After another four years of Obama, Cuba might start boycotting us.
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