Analyst: Obama has U.S. economy in 'death spiral'

[lynnf]

don't let the Obots get you down....



http://www.wnd.com/index.php?fa=PAGE.view&pageId=173169


A new analysis of the U.S. economy shows that since 2007, the private sector has lost 10.5 million jobs while the public sector has added 720,000 jobs, creating a "death spiral" for the nation's economy.

...

"Three professors at the Harvard Business School, in a study titled 'Do Powerful Politicians Cause Corporate Downsizing?' have concluded, based on 40 years of data, that federal government spending does not stimulate local business spending. In fact, the opposite occurred. The more federal spending, the less corporate spending," he reported.

"And the same results show up whether the state is large or small, whether the firms are large or small over a period of 40 years. In fact, the study shows the results 'most pronounced in geographically concentrated firms and within the industries that are the target of the spending.' In plain speech, federal 'bacon' is toxic to economic growth in the private sector," he wrote.

[tangent4ronpaul]

The actual report:
http://www.people.hbs.edu/cmalloy/pdffiles/envaloy.pdf

it's 47 pages, double spaced. The section about what are the most powerful committees and reps/senators and what effect their status has on spending (starting on p10) is interesting.

-t