As Business Insider states so well, “That’s the final, pathetic growth number for 2011.”
GDP grew a measly 1.7% in 2011 after (supposedly) jumping 3% in 2010. That’s what Obama’s billions and billions in so-called stimulus did. It gave us one (alleged) year of what could be considered decent growth in good times – not so much right after a recession, however – and then 1.7% the following year.
Maybe that’s because, instead of okaying pipelines that would result in thousands of jobs for Americans, President Obama lends out a couple billion to Brazil’s state-owned oil company Petrobras to create jobs there.
Oh, and give hundreds of millions to green energy companies that seem incapable of doing anything but going bankrupt. He does that too. The latest business on the insolvent stimulus recipients list is Ener1, which accepted $118.5 million to help it manufacture batteries for electric cars.
Taxpayers can officially wave “bye-bye” to that money, the same as they did for Solyndra and all of those other ill-conceived – but energy efficient! – ventures President Obama and his deficient Vice President Joe Biden spent so much time (and gas) talking up.
Yet he’s still out there declaring that he needs to win reelection because “the country needs it.”
Yeah, like another hole in the head.