Saturday, January 11, 2014

Obama's Legacy Of Economic Failure

Real Clear Markets ^ | Jan 10, 2014 | Wayne Brough 

Since taking office in 2009, it has been tough sledding for the economy. Congress and the administration have increased the federal debt held by the public from $7.5 trillion to $11.2 trillion in 2012. To clarify, in terms of percent of gross domestic product-a measure of the nation's total output-the federal debt has grown from 54 percent of GDP in 2009 to 72 percent of GDP in 2012, according to the Congressional Budget Office.

But sector by sector, the administration appears bent on imposing the regulations that thwart entrepreneurial activity and economic growth. ObamaCare, the jewel of Obama presidency, is fraught with problems that have many small businesses questioning their ability to expand or provide health care for their employees.

All told, Wayne Crews of the Competitive Enterprise Institute finds that federal agencies will issue 56 regulations for every law passed in 2013-at total of 3,659 rules and regulations.
(Excerpt) Read more at realclearmarkets.com ...

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