More evidence that the economy is in a failed state per the Obama Administration, itself.

From congressman's Bob Latta's office,  we have this admonition and commentary:

Help House Republicans pass 27 jobs bills

Commentary Posted by Congressman Robert Latta on February 02, 2012

Data reported by POLITICO shows our economy isn't improving. 

• The Federal Reserve has announced it will keep interest rates low through 2014, a sign of its pessimism about the pace of the economic recovery.

Editor's note:  manipulating lower interest rates is an indication of a poor economy,  in and of itself. Healthy or improving economies do not need such "assistance" -  blog editor. 

• The Commerce Department found the nation’s economy grew at a 2.8 percent rate in the fourth quarter of 2011, a faster pace than the rest of the year but worse than expected. If the economic growth slows in the next quarter, it will be tough to keep unemployment down.

Editor's note:  if inventory purchases are excluded from the 4th quarter GDP statement,  the economy grew at the much lesser rate of .07%  -  which is less than a one percent growth rate,  just in case you missed that point  --  blog editor. 

• The Congressional Budget Office projected a wider budget deficit and rising unemployment for the rest of the year, with the jobless rate expanding to 8.9 percent by the end of the year.

• Housing remains a problem. The Case-Shiller index again found that home prices across the country fell 1.3 percent in November from October in its most recent survey. 

Editor's note:  the Case-Shiller Index  is a collection of housing data from 20 designated cities.  In 19 of the the 20,  prices fell,  this November  (the most recent report)  - blog editor

The House is passing bills to spur the economy and help create jobs but the Senate and White House aren't supporting our efforts. Help us pass these bills by contacting your Senator. 

Three years later: Stimulus hasn't worked

Posted by Latta on February 01, 2012

On February 1, 2009, President Obama said when speaking on the economy, “If I don’t have this done in three years, then there’s going to be a one-term proposition.” 

Three years later, the results couldn’t be clearer. The failed policies and broken promises of the President’s trillion-dollar stimulus have made things worse. As the chart below illustrates, the policies of the Obama Administration have left Americans worse off now than before Obama took office. 

Key to reading the above chart:  understand that the first line,  the lower line on the chart,  is one drawn by Christina Romer and  Jared Bernstein sometime during the 2007-2008 season.  You can find the original chart (without the "actual unemployment rate" [red] ) in the embargoed report,  found here.  and dated "January 9, 2009,"  11 days before Obama's inauguration.  

Per this chart,  Obama projected a 6.7% unemployment rate by the end of the 1st quarter of 2012, and the "first quarter" is now.  


Watch for more on this matter,  but I am working on research documenting Obama's effort at dealing with the economy two years before his election.  Romer and Bernstein were must two of several dozen individuals and agencies either working on his "hit the ground running" strategy or being consulted with regards to this effort.  The 787 Stimulus was already written before he was sworn into office.  That is why it took just 27 days to publish the Stimulus and sign it into law - less than a month after taking office. 


Amazing.  Two stinking years of hard work and the Stimulus failed within six months of its passage.  And this guy wants a second term?!!