Manufacturing Hasn’t Rebounded
Manufacturing has rebounded in the United States, President Barack Obama assured us during his State of the Union speech. Not really.
Manufacturing barely expanded last month, in a sign that sector of the economy is far from as healthy as the president claims. During January, orders for new goods fell 13.2 points in comparison to the previous month.
And as Obama was well aware when he gave his speech, the economy as a whole is slowing down.
The nation’s gross domestic product grew just 1.9 percent last year, compared to 2.8 percent – still nothing about which to brag – for 2012.
Obama has been in office more than five years. No longer can he blame the weak economy on his predecessor. If he wants real improvement, he and liberals in Congress need to get out of the private sector’s way.