By Alex Thorne

(7/17/2012 Update – related article: Bernanke: Economy stinks)

According to the latest report on world economics, the International Monetary Fund documents the effects of failed stimulus spending policies the Obama administration wants to continue if reelected to a second term.

In its latest world economic projections, the International Monetary Fund sounded a newly cautious note about a situation where rounds of government stimulus spending and low interest rates have failed to take hold, and left countries saddled with debt and other problems that give them little room to maneuver if conditions get worse.  (Howard Schneider, IMF: China, India, other developing countries show signs of slowdown, The Washington Post, 7/16/12)

With the Federal debt over 14 trillion dollars and counting, Obama wants to continue the reckless spending that will put this country further in the hole.  Then there’s ObamaCare with its government mandates that are depressing job growth and increasing taxes on the people who can afford it least.

For over 40 months, the unemployment rate has been stuck above 8 percent despite that fact that Obama promised that if we went along with his stimulus spending scheme, the country’s unemployment would be under 6 percent at this point.

As Amy Payne of the Heritage Foundation wrote:

This jobs drought is the result of counterproductive policies, many of which could be reversed immediately. But in the meantime, employers aren’t hiring because they are suffering from prolonged uncertainty, as economists readily admit.

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