By Tom Quiner
The administration is touting 13 consecutive quarters of GDP growth as proof that the economy is on a roll.
In politics, you spin what you’ve got. And if you don’t have anything to spin, you make it up.
Here’s the sad story. Team Obama promised us that economic growth would be at 4.3% at this point of the economic recovery after passing its budget-busting stimulus bill in 2009.
It didn’t work. GDP just creeped up to 2%.
We settle for so little with the Obama approach of trickle down government.
Compare the robust results we got from Ronald Reagan’s embrace of supply-side economics. Under Reagan, the first 12 months of economic recovery averaged 5.6%. Under Obama, it has only been 2.2%.
Reagan inherited an economy in worse shape than Obama did, yet he averaged more than two and a half times the growth of Obama using the opposite approach.
At this point in the recovery, the Reagan GDP was growing in excess of 6%, triple Obama’s.
A vote for Barack Obama is a vote for more malaise.
A vote of Mitt Romney, who embraces the Reagan approach, is a vote for prosperity.