Friday, July 23, 2010

Economy in recovery?

I just saw a news clip showing President Obama and Vice President Biden proclaiming that we are on the road to recovery.

This as may come as a surprise to those who know that

1) the federal deficit is expected to increase again this year beyond 1.4 TRILLION dollars,

2) 103 banks have closed so far this year alone (we're only half way through the year) putting us on track to far exceed last year,

3) unemployment rate is 9.3% (it was 6.5% when Obama took office and if I remember correctly, the Democrats swore that their billion dollar stimulus package would keep it from going above 8%).

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