Obama’s On A Roll As Leading Economists Predict Big Gains Over Next 2 Years

‘Republican Treason’

The claim that Mitt Romney would be an economic ‘fix’ for the Obama administration is now pretty much irrelevant. As more Romney supporters jump ship, experts agree that the U.S. economy will achieve bigger economic gains in 2013 and 2014, no matter who wins Tuesday’s election, Bloomberg reported Sunday.

What Bloomberg describes as economic “headwinds” turning into “tailwinds” is an affirmation of the economic policies of the Obama administration. Obama’s recovery was designed to create lasting effects, not a quick jolt. The stimulus spending made up-front investments that laid the foundation for the broader recovery that’s now unfolding.

Now, in order to continue to see long-term economic growth, we must reelect the person who understands that people need health care coverage and access to education and job training in order to be productive members of society.

Bloomberg’s report is partly based on the forecast of Moody’s Analytics Chief Economist Mark Zandi, who wrote:

Political uncertainty will abate and hiring and economic growth will revive by this time next year. By  2014, growth will be in full swing as the construction cycle definitively turns up. Real GDP growth is expected to approach a 4% annual pace, with job growth above 250,000 per month and unemployment steadily declining. The economy should return to full employment—defined as a 5.8% unemployment rate—by early 2016.

Good economic news is popping up in a lot of places, although the negative SuperPAC ads would like Americans to think otherwise. In late October, the Commerce Department reported that new home sales rose 27.1% over this time last year and 5.7% over August. U.S. home prices also rose and home values increased 1.3% in Q3, the biggest gain since 2006. You might also be interested to know that the economy added 171,000 jobs in September, keeping up the steady pace of private sector job growth over the last 2 years.


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