Thursday, January 17, 2013

Obama bad for corporate profits?

Well, that Commie Socialist Muslim in the White House is at it again. And, I hope he's happy this time.

According to Bloomberg, the newest Corporate profit reports are out and they're quite something. We know that Obama's LOVE of all things regulatory and those high taxes on businesses have stunted any real shot we had at a serious economic recovery. And now, those ill-conceived tactics have come home to roost.

From Bloomberg:

U.S. corporations’ after-tax profits have grown by 171 percent under Obama, more than under any president since World War II, and are now at their highest level relative to the size of the economy since the government began keeping records in 1947, according to data compiled by Bloomberg.
Profits are more than twice as high as their peak during President Ronald Reagan’s administration and more than 50 percent greater than during the late-1990s Internet boom, measured by the size of the economy.
Looks as if some economists feel President Obama pulled some of the right strings once he took over in January of 2009: 
In a February 2012 survey, 80 percent of senior economics professors said unemployment was lower at the end of 2010 than it would have been without Obama’s stimulus spending. A July 2010 study by Alan Blinder, former Federal Reserve vice chairman, and Mark Zandi of Moody’s Analytics, said the stimulus, bank rescues and Fed policy “probably averted what could have been called Great Depression 2.0.”
No, everything isn't rosy and it isn't going to be for sometime. However, the next time you read or hear someone suggest that Obama is killing business, remember these numbers.

After tax profits have grown by 171% under this president. They are twice as high as the best numbers during the Reagan Administration and 50% better than the Clinton era Internet Boom days. For a Commie, Socialist Muslim, he's not doing that badly, eh?

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