The recession is over, so says Reuters. Even if it is spurned in part by government tax-relief (wow, tax-breaks, one would think liberals would get a clue) via home buyer tax credits and the “cash for clunkers” programs, it is time we all embrace this news.
However, in calling the “(Bush) recession” over, it’s time to mark the beginning of the Obama recession. The narrative going into 2010 will be simple, no sooner has the U.S. economy recovered, than another recession commenced marking the shortest recovery period in U.S. history. Root causes attributed to continued rising unemployment (despite fuzzy math from the White House), the wasteful $787 billion porkulous Recovery Act, the return of higher taxes as the Bush tax cuts expire, the devaluation of the dollar, exploding deficits, massive debt, growing government, ominous increase in federal mandates on the states, and the threat of government run health care.