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Why is economic recovery taking so long?…….
I’m Mike Fitzsimmons with commentary on 920-KXLY…….
America continues to struggle with the slowest economic recovery since the great depression. There have been a dozen major, and a half-dozen minor recessions since we emerged from the Great Depression, but not once did our come-back take so long. Not once did our economy languish in mediocrity like it has since the last recession allegedly ended in June of 2009. In large measure, this sluggishness is directly related to President Obama’s wild spending habits, his unchecked borrowing, and mindless policies that have wasted hundreds of billions of dollars in bailout payments that have done nothing to improve our condition.
Job creation in the private sector has been virtually thwarted for the last three years. Ongoing uncertainty has kept American small business owners from making long term plans and that includes plans to hire new employees. They have no confidence in the White House and little in the Congress. They get no help from a Congress. Progress on fixing the economy smothered by partisan leadership in the Senate that has not offered a budget in three years and will not entertain any effort by the House to put forth a budget. Progress is also impaired by a White House that is pushing wealth redistribution policies that threaten the economic foundations of the nation.
As the necessary forces to achieve recovery are held in check, it has become necessary to convince the skeptics that we’re actually doing alright. Unemployment, we are told is only 8.3%, but that statistic doesn’t include everyone who is out of work. Not by half. Unless a person is unemployed and looking for work, they are not classified as unemployed. There are two ways to bring down the national unemployment rate. One is to get a job. The other is to stop looking for work. This is as good an illustration of the madness that holds our economy hostage as any.
We simply cannot expect a sustainable economic recovery until we demand that our leaders get our fiscal house in order.
With commentary on 920 – KXLY, I’m Mike Fitzsimmons
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