It has been suggested that the US economy has been out of the great recession since 2009. That being the case many economists have been frustrated of the fact that the recovery has been so slow in recovering that many of them are saying:Recovery. What recovery?” The same experts have said that after a bad recession where the economy dropped so much it leads to a recovery with a big jump, but they are worried because there is definitely no big jump with this recovery, as a matter of fact it’s going so slow it feels like we are still in a recession.
We can’t just talk about this without giving some facts. The following was posted by Olivera Perkins, published by Cleveland/business:
“Median household income remains far below pre-recession levels — Median inflation-adjusted household income, at $51,939 in 2013, is at its lowest level since 1995 in inflation-adjusted dollars. In 2007, it was $56,436”
“Job growth slower than in other recoveries — The total number of jobs has grown by 6.5 percent during this recovery, contrasted with 12.9 percent in previous comparable recoveries.”
“Poverty rate increased — During the previous recoveries mentioned, the poverty rate went down. During this one, it increased. The poverty rate increased by 0.2 percentage points during this recovered, but decreased by 0.7 percentage points in previous comparable recessions.”
Now we all know or people should know that a president or the federal government cannot create jobs. But here is what a president can do which Obama has been doing all through his six years in the presidency thus far and that is scare business from hiring and expanding by scaring them off with socialistic polices which Obama is full of. The small business person is holding back trillions of dollars of investment because they are afraid of investing it into this Obama economy.
From the same publication: “Greg Lawson, a policy analyst at The Buckeye Institute for Public Policy Solutions said the slow recovery “is a matter of bad policies coming out of Washington.” Lawson considers the Affordable Care Act, also known as Obamacare, among them. He said small businesses have traditionally led the way in creating jobs, but the ACA leaves them little incentive to do so. Those with at least 50 employees will have to either offer the amount of health insurance required by the law or face penalties.”
“I think that the taxes and the penalties that are being threatened to be imposed on businesses are making businesses reticent to hire people, and that is creating a drag on the economy,” Lawson said. “You have got to think long and hard before you hire that 50th person.”
This is all a matter of common sense. As long as the small business person will not hire and expand because it has a choke hold from Obama there will be 100 million people out there who cannot find jobs. The people who still have some kind of jobs statistics show they are spending less because of various factors such as utility rates going up, or Obama Care having higher out of pocket costs than predicted, consumer confidence being down because their house is still under water and the list goes on. One thing is for sure, as long as the business person does not have the resources or reason to hire we are not going to get out of this shaky economy; that means as long as this socialist president is in office I don’t see any chance of a recovery because Obama like I said has put a choke hold on the people who hire and expand and it will take a Reagan conservative president to take that choke hold off.