OBAMA LIES / THE ECONOMY SLIDES

As has become common, the federal government (this is just the nice way of saying Obama) releases a piece of data on the American economy and then a short while later quietly recants on that report with the excuse that "additional" information just became available. This time the impacted area was a report on quarterly economic growth.

According to Washington, there was a 2.4% growth in the American economy during the second quarter of 2010. This information was received with mixed feelings in that it was a drop from the first quarter growth statistic of 3.7% but when these two items were averaged there was a result of just over 3.0%. This 3.0% figure of growth is important in that it is believed by most economists to be needed to maintain the current level of the American economy including the current level of 9.5% unemployment. The bottom line was that things were not getting better but they were also not getting worse.

Not true.

Just now our nation has been informed that the second quarter economic growth was not at a nearly acceptable 2.4% but at a "bad news" 1.6%. The needed 3.0% factor was not reached and this updated news confirms that the economy is again sliding down hill.

Federal Reserve Chairman Ben Bernanke spoke today and in his very reserved manner of addressing the public stated that the American economy was "inherently uncertain" and it was "vulnerable to unexpected developments". Bernanke also expressed that more federal stimulus was needed.

We are, in more direct language, in a dangerous situation and will not be able to sustain even this weak economy if any serious situation develops. These serious situations could be anything from a natural catastrophe to a significant terrorist act to violent internal unrest.

Obama has in the past 18 months proven that he does not have the ability to lead this nation much less lead it out of an economic down-swing. If there should be any "unexpected developments" don't look to the White House for any meaningful resolution.