We can measure the failure by using benchmarks set by not Rush Limbaugh or Fox News but the administration. In 2009, the White House projected that GDP growth would average 4.6 percent in 2012. The next year, the White House projected that growth would reach 4.3 percent on average last year. In 2011, it downgraded to an average of 3.6 percent. Wrong again. Last year's growth was actually 2.2 percent. And that number was achieved by injecting billions in monthly debt for an array of liberal hobbyhorses.
The GDP numbers may still be revised. But if we weren't waist-high in the worst recovery since the 1800s, none of this would matter. We'd be discussing 4 or 5 percent quarterly growth rather than 1 or 2 percent, whether we cut some military spending or not. Today stagnation is the normal -- and totally expected.
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