So this is what we get. After a trillion dollars in stimulus. After bailing out the auto industry and the banks. After promising us that the “private sector is doing fine.” After assuring us that all we need is patience, this is what we get. Fourth Quarter GDP growth is in, and the long and short of the story is that there was no growth. In fact, there was a contraction of .1%. If anyone remembers the stagflation of the 70s–with runaway inflation and soaring government spending–we may be on the verge of seeing it again. In fact, we may already be there.
Congratulations, America. After four years of failure, you’ve given this incompetent President another four years to disappoint you.