A great objective analysis of the US economy in Forbes magazine by economists from First Trust Advisers… a few key extracts:
Despite the rosiest economic projections we have possibly ever seen, as well as one of the largest tax hikes in history, President Obama’s budget fails to achieve balance at any time in the next decade. The smallest deficit (at least as far as the eye can see) will be $533 billion in 2013. This is amazing, especially when the economic growth forecast is considered. Team Obama suggests that real GDP will grow significantly faster in the years ahead than it has in the past.
There is no period in U.S. history where tax rates and the size of government both increased, and yet real GDP growth accelerated as sharply as the Obama team forecasts.
In other words, it is the Obama team’s shift to an expanded government role in the economy and society that is boosting spending, not just spending to stimulate the economy.
It is clear that O’bama’s political ideology and pragmatic economics do not mesh. I added bold to the last paragraph to highlight this fact… O’bama’s push to Socialism will take us down a hell-hole where we may not recover.