Europe Shows Us What Four More Years Of Obama Might Look Like
Things aren’t great in America’s economy right now. The unemployment rate has been above 8% for almost the entirety of President Obama’s term and has often been much higher. Economic growth has been stagnant, but one bright spot has been energy development with what can only be described as a revolution going on in the oil and gas industries.
Looking to Europe, though, where policymakers have imposed many of the taxes, regulations and mandates Obama and his liberal party would see implemented here things are much worse:
Euro-area unemployment rose to a record and inflation quickened more than economists forecast as rising energy costs threaten to deepen the economic slump.
The jobless rate in the economy of the 17 nations using the euro was 11.3 percentin July, the same as in June after that month’s figure was revised higher, the European Union’s statistics office in Luxembourg said today. That’s the highest since the data series started in 1995. Inflation accelerated to 2.6 percent in August from 2.4 percent in the prior month, an initial estimate showed in a separate report. That’s faster than the 2.5 percent median forecast of 31 economists in a Bloomberg survey. …
The European Central Bank, which will publish its latest economic projections next week, said in June that the euro-area economy may shrink 0.1 percent this year, with inflation averaging 2.4 percent. The ECB aims to keep annual gains in consumer prices just below zero.
Obama would lead us down a path toward higher taxes. More regulations. Tighter restrictions on domestic energy production. More money wastefully squandered on green energy “investments” like Solyndra.
Or, put another way, Obama would take us to where Europe is right now.
Tags: Barack Obama, Economy, europe, european union, jobs
