Barack Obama's recovery plans for America are simply not working. It is a bad idea to raise tax rates on anyone during an economic downturn. Over more than a million small business owners will have their taxes increased if the Democrats have their way. New regulations by the Obama administration are killing plans for business expansion. What is Obama's plan to get our economy moving forward again? The hand of big government is clearly not helping our economic recovery. The economy appears to be suffering its third straight midyear slump. "Retail sales fell in June for the third straight month, prompting many economists to downgrade their estimates of economic growth in the April-June quarter. Many now think it will be even slower than the first quarters sluggish 1.9 percent annual pace." Discussion and analysis follows. The number of Americans seeking unemployment benefits surged last week, although the figures may have been influenced by seasonal factors. The Labor Department says applications rose by 34,000 to a seasonally adjusted 386,000. The increase reversed a big drop the previous week. When applications fall below 375,000, it typically suggests hiring is strong enough to pull the unemployment rate down. Applications had been trending near or above that level this spring. Federal Reserve Chairman Ben Bernanke this week offered a bleak assessment of the economy. And a survey from the Fed said hiring was tepid in most districts in June and early July, retail sales slowed in Boston, Cleveland and New York, and manufacturing weakened in most regions. Job growth slowed to 75,000 a month from April through June, down from healthy 226,000 pace the first three months of the year. Unemployment has been stuck at 8.2 percent for two straight months. Retail sales fell in June for the third straight month, prompting many economists to downgrade their estimates of economic growth in the April-June quarter. Many now think it will be even slower than the first quarters sluggish 1.9 percent annual pace. The only good news recently has been evidence of a long-awaited recovery in the housing market. The government reported Wednesday that U.S. builders last month broke ground on the most homes in nearly four years. Single-family home building rose for a fourth straight month. And permits to build single-family homes hit the highest level since March 2010. http://www.boston.com/business/news...sues-factor/7LQNj7bioDMZldAsBj2FLL/story.html
Well, thats not good, but harping on Romney to disclose his tax returns and defend his departure date from Bain are FAR more important. Oh, and lets not forget, he's a MORMON!
