PresBo In Denial, Says Economy Recovering

Despite everything that shows otherwise, PresBo announced yesterday that our economy is in "recovery mode."
http://news.yahoo.com/s/afp/20100629/ts_afp/useconomyobama_20100629170100

President Barack Obama, with Federal Reserve chairman Ben Bernanke at his side, insisted the US economy was "strengthening" Tuesday despite foreboding data and a fresh stock market slump.

Obama admitted there was "great concern" about the recovery, amid increasing anxiety over indicators which may point to a slowing of the rebound, and with expectations low for the latest unemployment figures due out Friday.

"The economy is strengthening, we are into recovery," Obama said, shortly after new figures showed that consumer confidence, a key economic indicator, had tumbled in June, sending stock markets worldwide plummeting.

The man is completely divorced from reality. Instead of lying about the economy, he'd do better to change his policies away from their current economically destructive path and towards a path that would actually encourage the economy to grow.


I mean, really. How can he claim the economy is so rosy when unemployment remains high, new house sales dropped 33% recently, consumer confidence is down, and most recently, US auto makers saw a slump in auto sales? THIS is a strengthening economy?
http://www.breitbart.com/article.php?id=D9GL592G0&show_article=1

When it comes to car shopping, Americans are tapping the brakes.
Forecasters think U.S. sales of cars and light trucks have slowed in June after months of improvement. It's another sign that people are beginning to doubt the economic recovery with unemployment still high.

"The two big issues with consumers right now are employment growth and income growth, and they're not seeing much of either," said George Pipas, Ford Motor Co.'s top sales analyst.

If THIS is Obama's idea of an economic recovery, I'd say he set his expectations incredibly low.