Obama's Economy: GDP Down 6.1%

In case you missed it, Q1 GDP decreased 6.1%...and yes, I do blame Obama for a good portion of it. While he only entered office in January, he has been outlining policies since November. His expected policy changes, including tax increases and higher business costs, have helped reduce both consumer demand and business spending, as well as heightening layoffs. Businesses plan their budgets based on future expectations and everything Obama has said has worsened confidence.

Obama also passed a budget-wrecking stimulus plan that hasn't done a thing to stimulate the economy. Some argue that it will take a while for the stimulus to kick in - perhaps even until 2010. That just means that it is an idiotic stimulus package that does nothing to stimulate the economy - and Obama pushed for and signed it. If he wanted to stimulate the economy, he could have pushed for policy changes that incentivize hiring and investment. Instead, he chose politics - and the result is an economic disaster.

And yet, the Obama budget still assumes a decline of only 1.2% in GDP this year and a ludicrous 3-4% growth over the next several years - and it still shows a trillion-dollar deficit years out.