Obama’s Projections

To the Editor:

Over the past few weeks the major news events have been oil prices, Libya, and government spending, (I refuse to count Charlie Sheen as major news). Oil prices have risen, and personally I feel will rise an additional 25 percent by Memorial Day; I’m not going to comment on Libya, which brings me to government spending.

Our President and his economic counsel presented the America public with the most ridiculous, farfetched economic projections I’ve ever seen. Obama and his team miraculously assume America’s GDP will average four percent for the next ten years. Four percent! Are they insane or just outright deceitful? Considering from 1998 to 2008 America’s GDP averaged 2.17 percent, I say deceitful. Is America in better fiscal shape since 2008? I don’t think so and here’s why: As of February 2011, our national debt has tripled, “real” unemployment is upward of 17 percent, and our trade deficit continues to climb. With that said, how is America going to come close to four percent GDP? It’s impossible! Mr Obama you promised change; start by changing your projections.

Daniel M. Patti

84 South Main Street, Building C, Newtown              March 2, 2011