Listening to media forecasts of impending economic recession is like watching Samuel Beckett's play Waiting for Godot. Commentators keep insisting a recession is on its way, but it never seems to arrive. A recession is defined as two consecutive quarters of negative growth, and so far we have yet to have even one negative quarter, much less two in a row. I know the Dems want to paint this as the worst economy ever but, as is often the case, the facts are just not on their side.
The stock market is down and the economy is not great (1% growth in the last quarter), but it's not in recession. It could be, however, if Democrats have their way and taxes are raised on everything we earn, social security remains unfixed, fuel prices are allowed to continue their rise, and business is taxed and regulated into the economic doldrums. The left's solution to a sluggish economy is to smother it with taxes and regulations that drive investment and jobs overseas, the end result of which is to make the problem worse, rather than better.
Their slogan this election might well be: Bring Back the 70s; Vote for Obama!
HT: Hot Air
RLC