WASHINGTON -The Obama economy continues to sink deeper into a recessionary abyss where full-time jobs are in short supply, incomes are flat and life for many millions of Americans is a daily struggle.
We learned this month that the economy barely grew in the last three months of 2013 by a minuscule 2.4 percent, a dismally anemic number that shows the once-powerful U.S. economy remains bedridden under Barack Obama's ultra-liberal tax and spend policies of the past five years.
"The new figures indicate that the recovery has less momentum heading into the new year and add to concerns that recent lackluster economic data could signal even weaker growth in the first quarter," the Washington Post reported last week.
The Obama administration announced in January that the economy's total economic output, or what is known as our gross domestic product, grew by an exaggerated and erroneous 3.2 percent annual rate in the fourth quarter.
That figure captured front-page headlines and made the nightly network news broadcasts, giving the White House a chance to brag that Obama's policies were working and moving the economy forward.
But the revised 2.4 percent sluggish growth rate never got the same high volume, news media treatment.
Outside of the Republicans, who pounded Obama for his impotent policies, Democratic leaders were as silent as the tomb about the nation's paralyzed economy -- as they have been for the past half decade.
And don't hold out any hopes that the first three months of this year are going to be any better. One top Wall Street economist said the first quarter "is unlikely to be anything to write home about."
Most Americans probably don't pay much attention to quarterly GDP statistics that are hard to understand. But low numbers in the 2 percent range mean the economy isn't growing at a rate that will significantly boost business investment, incomes and job creation.
The U.S. Labor Department announced last month that the economy created only 113,000 jobs in January, the second straight month of mediocre hiring.
Forecasters expect the economy produced 150,000 or so net new jobs last month, a pathetic figure in a nation of 160 million adult workers, many of whom are either jobless or forced to accept part-time jobs, or have stopped looking for work entirely.
Surveys by the payroll processing firm, Automatic Data Processing, said Wednesday the February job number will likely be around 120,000. And the ISM service sector jobs index this week plunged below 50 for the first time in over two years, down to 47.5 in February from 56.4 in January.
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