Tuesday, November 24, 2009

Hello? McFlyyyyy?

Does this surprise anyone? Economy's rebound not as strong as first thought.

In the mean time the little emperors in Washington fiddle while the country burns. Job killing health care plans, job killing tax increases, job killing cap and spend proposals. Any rebound in the economy will be despite what they do in Washington, not because of it.

My own take is that we will have little to no growth for the next several years while more strangleholds are put on businesses, discouraging employment. If the health care plan passes I expect small businesses - the engine of employment growth - to basically go into cardiac arrest, pushing out any real growth out for years.

In the mean time government spending at all levels will continue unabated. To fill the shortfalls the federal government will borrow more and local governments will tax more, putting even more downward pressure on the economy at all levels.

We have basically entered a death spiral which the democrats can't get out of. The solution - sharp cuts in spending and taxes - is not something they can bring themselves to do. They rather destroy the economy in the name of their convictions than admit they're wrong.

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