Thursday, September 27, 2012

A Glimpse Of The Future

By Gary Bauer

Everyone has been talking about Obama's economic disaster of the last four years. The real question is what will the next four years be like. In recent days we have gotten a glimpse of the future if Obama is reelected.

Yesterday, the Wall Street Journal reported that the Business Roundtable survey of CEOs found that just 29% of corporate executives expect their companies will hire additional workers in the next six months. But 34% expect they will have to lay off workers. According to Reuters, "U.S. chief executives' view of the economy … is now as bleak as it was in the immediate aftermath of the last recession." 

Today, the durable goods report came out. This is a key measurement of manufacturing production that includes big ticket items meant to last for years like aircraft and home appliances. Last month, orders for durable goods dropped a staggering 13.2%. That is the worst one-month decrease in four years.

And there was even more bad news today. Economic growth in the second quarter of this year, initially reported at a weak rate of 1.7%, was revised downward to an anemic 1.3%.

America can't afford four more years of Barack Obama's failed economic policies!