4th Quarter GDP Numbers

The news for the 4th Quarter was great! 5.7%! Remember that
the previous quarter was originally 3.5% and then was revised
down twice to 2.2%.
The Obama Administration was quick to take credit for the
positive numbers. The problem is that the Clinton and Bush
Administrations, Congress and the Federal Reserve are
responsible for creating the loose money, poorly-regulated
environment which induced "fat-cat bankers" to take greater
risks. The truly foolish politicians and money folks have
taken their bribes, fat fees and bonuses and have departed the
crime scene. The Obama Administration was simply at the right
place at the right time - in office when the recovery happened.
Unemployment is still at 10% primarily because of the uncertainty
created by the POTUS and his Congress. Employers are waiting to
see if tax, energy and health reform legislation will pass. If
they are charged a 5.4% surcharge, energy taxes and forced to pay
health insurance for all employees, then they will be reluctant
to hire - especially since minimum wages have already increased
$.70/hr. The mandatory wage increase costs $1,456/employee/yr or
$145,600/yr for every 100 employees. The surcharge costs $54,000
per $million profit. Expenses for "cap and trade" and Obamacare
could be much more! Ev Dirksen would say "a $10K expense here
and a $10K expense there, and suddenly your profit is a loss!"
The Federal Government says that they need $3.83 trillion of
taxpayer dollars for FY2011. That should keep them comfortable -
and gain lots of bribes - with their already above-average salaries.