Many people think that our economy is coasting along with solid growth, but what is happening is that we have an artificial economy, which is dependent upon financial stimulus from the government. The present administration has been spending about 40 percent more money than the government collects. This is not a sustainable course. We cannot keep this up, just as you cannot keep going into debt forever.
After five years, Obama has just got the unemployment rate down to 7 percent. Remember George W. Bush had an average 5.5 percent unemployment rate for eight years. He left with a federal debt of $9.5 trillion. Now, the debt is almost $17 trillion. Obama has increased the debt 79 percent during his tenure.
What is important is that we now have an artificial economy, meaning that the economy is dependent on the government to survive. Every year Obama has spent over $1 trillion to stimulate the economy. The problem is that spending money doesn’t replace productivity. Productivity is the key to having a healthy economy. Spending money just increases the debt, which has to be repaid. So far, Obama has a failing economy. There is no indication of an economy in the future that will be sustainable.
Spending huge sums of money doesn’t replace productivity for a strong economy.