There’s a bright side to the upcoming presidential election, even if you dislike both candidates—it will bring an end to the Obama administration.
That may seem like a harsh assessment, but the past eight years have not been good to the U.S. economy, which has been weaker than instant coffee. As POTUS, President Obama bears much of the responsibility.
How bad has economic performance been? Today, about 66.6% of American youth aged 15 to 29 are living with their parents. That’s up from 62.8% before the Great Recession. Fifteen-year-olds should, of course, be living at home. But 29 year olds? Adults don’t typically live with mom and dad if they can afford to live away from home.
Talk all you want about the Great Recession, but that was eight years ago. And if you think tax cuts and insufficient spending by the Bush administration resulted in the economic malaise of the past eight years, you may want to consider reading economists other than Paul Krugman.
President Obama’s Forecasts vs. Reality
The Wall Street Journal may not be a fan of the president, but the recent review it published of the Obama economy by Lawrence Lindsey, a former Federal Reserve governor and assistant to President George W. Bush for economic policy, couldn’t have been fairer. It compares what President Obama said would happen with what actually happened. (more…)