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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 30 January 2012 [View all]xchrom
(108,903 posts)39. Obama Recovery Proves No Morning in America Yet
http://www.bloomberg.com/news/2012-01-30/obama-economy-recovery-from-bush-collapse-proves-no-morning-in-america-yet.html
The brightening economy as the 2012 election year begins doesnt yet match Ronald Reagans Morning in America.
President Barack Obama presides over an economy that eluded the threat of a double-dip recession in mid-2011 and now is strengthening, with growth accelerating in the fourth quarter to a 2.8 percent rate, the fastest in 18 months, from 1.8 percent the previous quarter.
Still, the pace remains well short of the recovery that helped propel the re-election of Reagan -- who, like Obama, faced a contraction considered in its time to be the worst since the Great Depression and also lost congressional support in mid- term elections.
Were getting growth but were not getting prosperity, said Neal Soss, chief economist at Credit Suisse in New York, who was an assistant to former Federal Reserve Chairman Paul Volcker from 1981 to 1983.
The brightening economy as the 2012 election year begins doesnt yet match Ronald Reagans Morning in America.
President Barack Obama presides over an economy that eluded the threat of a double-dip recession in mid-2011 and now is strengthening, with growth accelerating in the fourth quarter to a 2.8 percent rate, the fastest in 18 months, from 1.8 percent the previous quarter.
Still, the pace remains well short of the recovery that helped propel the re-election of Reagan -- who, like Obama, faced a contraction considered in its time to be the worst since the Great Depression and also lost congressional support in mid- term elections.
Were getting growth but were not getting prosperity, said Neal Soss, chief economist at Credit Suisse in New York, who was an assistant to former Federal Reserve Chairman Paul Volcker from 1981 to 1983.
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