"It's not what he doesn't know that bothers me, it's what he knows for sure that just ain't so."
Walter Mondale - October 8, 1984.
Yesterday the first quarter gross domestic product data was released. The "small government crowd" portrayed it as 1929 again. Look at the two charts below. Both represent gross domestic product per capita since the early nineties. The first is a simple linear presentation. The second has the current and previous two business cycle recoveries stacked for comparison.
And now the presentation for the best financial quarter in the history of the United States. Envelope please. And the winner is 1st quarter 2012. Take it Bert Parks.
"There she goes Miss America, so beautiful......"
On the right side of the runway, suddenly a gang of minimalist appear, tossing rotten tomatoes, crass adjectives and trite lies - "Worst economy in 50 years."
Keep in mind, the number, 2.2%, being bantered around is the growth after removing inflation. The actual growth rate was 3.8%. Did you get a 3.8% raise? Look at the second chart. It is obvious that the current recovery is just like the previous two, just at a higher rate of wealth.
The rich get richer, the poor get less poor, and the middle class gets fatter. They are not listening to me, but instead listening to the fat and decadent cry babies singing their song of envy - "I'm not getting my share. I want more. It's Obama's fault. He's destroying our economy."
Barrack Obama is not destroying our economy. George Bush was not either. We have the greatest economy on the planet. Both Presidents, Obama and Bush, have striven to keep it that way. They have been successful. Just how long are we going to represent strawberry shortcake to be a bowl of horse manure?