American economy stronger than Obama incompetence オバマの無能力を超える米経済の強さ
American economy stronger than Obama incompetence
Barack Obama needed not one, but two autobiographies to tell the story of the first half of his life. He called the second version “The Audacity of Hope.” When he writes his account of the second half of his second term he should call it “The Audacity of Hype.” It will be the fanciful tale of how his economic policies were responsible for the modest recovery from six years of presidential mismanagement of the economy.
Mr. Obama sprained his wrist patting himself on the back just before he left for a gasoline-guzzling Christmas holiday in Hawaii for what he calls “a surging economy.” Shortly afterward his administration took credit for a 5 percent increase in the gross domestic product in the third quarter. But the economic “recovery,” such as it may be, is less a result of Mr. Obama’s economic policies of higher taxes and suffocating regulations than improvement in spite of them. The American economy is so big and so resilient that it’s difficult even for incompetence at the top to keep it throttled for long.