March 12, 2014
The latest polls indicate a weak economy continues to drag down President Obama’s job approval rating, but those hardly guarantee any big changes in Washington. Americans may want more jobs and better wages but they also support many of the president’s specific policies.
Obama’s recovery is hardly better, or worse, than President Bush’s. Both only registered 2.3 percent GDP growth, whereas the economy expanded more than 4 percent annually for Ronald Reagan and Bill Clinton.
Granted Bush’s gains were wiped out by the financial crisis, but that calamity was sewn during Clinton’s last years by Treasury Secretary Larry Summers’ repeal of Glass-Steagall banking regulations, which untethered gambling on Wall Street.
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