Wow, the ObamaRecovery is roaring along, isn’t it?  Remember “Recovery Summer?”  What ever happened to that?  And what do we call this summer?  Relapse Summer?  Have you seen our economic growth rate for our second quarter of this year?  Wow!  Sit down and hold on!  The declining American economy showed a whopping 1.5% GDP growth rate for the second quarter.  Now there’s some change we can believe in! 

When Obama’s propaganda team tried to convince us in 2009 that we just absolutely needed to pass his stimulus bill in order to ensure a sound recovery, the White House predicted that we would be clocking along at a growth rate of 4.3% in 2012.  Oops.  Looks like we will be lucky to hit 2% for the entire year.  You mean spending billions of dollars on government-directed programs and leading our country further into debt wasn’t the magic solution to our economic woes?  No kidding …

According to economists, an annual growth rate of just 2% only adds about 90,000 jobs a month.  That’s clearly not even enough to keep up with population growth.  In order to keep up with population growth, we would need to be growing in the 2.5-3% range.  To actually make a dent in the unemployment rate, we need to be growing by at least 4% GDP, which is where Obama’s crack economic team said we would be if we passed his stimulus bill.

You bet that this pathetic growth rate is affecting families in the US. Investors Business Daily points out that GDP is usually 15.1% higher at this point in a recovery (post WWII) than when it began.  (Obama is up just 1.7%.)  If we had been growing at this normal rate of recovery, our economic output would be $1.78 trillion more than its current size of $13.56 trillion.  This $1.78 trillion translates into $5,780 in lost output for every American. 

Meanwhile, Americans who own small business are paying more than ever before in regulatory costs -- $10,000 per worker.  Perhaps this is part of the reason why we have lost over 200,000 jobs since 2008, leading to a loss of 3 million jobs.  It’s no wonder that small business owners are now among the least approving of Obama among major occupational groups.

One more thing before we move on … a stat that is awfully indicative of the Obama Economy … in the second quarter with this pathetic 1.5% GDP growth rate, we added $274 billion to our national debt while only adding $117 to our GDP.  So we are spending borrowed money at more than double the rate as we are producing.