ga(‘create’, ‘UA-37051077-2’, ‘auto’);
Heritage Foundation’s Moore: Strong Economic Growth Has Nothing to Do With Obama Administration
Tuesday, 30 Dec 2014 07:00 AM
The economy is on a roll, growing 5 percent in the third quarter, the fastest in 11 years, following a 4.6 percent expansion in the second quarter.Non-farm payrolls have risen more than 200,000 for the last 10 months, the longest such streak in more than 30 years.
But all of that is no thanks to the Obama administration, says Stephen Moore, chief economist of The Heritage Foundation.
“This isn’t a story of government-directed growth, but the opposite—Washington’s role in the economy starting to shrink after years of Obama administration activism. The private sector is starting to take over,” he writes in The Washington Times.
“What’s generating the growth? A huge factor has been the fall in energy costs.” Oil prices have plunged to five-year lows this month.
In addition, “businesses are clearly feeling less fearful about investing,” Moore says. “And some of the negative, wet-blanket effect of Mr. Obama’s anti-business, anti-shareholder agenda has dissipated as the Republican Congress repels his worst ideas — cap and trade, minimum wage hikes, new taxes on the energy industry, and massive new spending initiatives out of Washington,” he adds.
Read Latest Breaking News from Newsmax.com http://www.Newsmax.com/Finance/Moore-economic-growth-Obama/2014/12/29/id/615364/#ixzz3NsLmrte2
Urgent: Should Obamacare Be Repealed? Vote Here Now!
Sponsored by Sherwells Barn