Under the Obama Administration, bin Laden is dead and General Motors is alive
To the editor:
I am writing to express my confusion.
I read political commentary from the local level to the national level. In much of the conservative and Republican commentary, I have been told that President Obama is at least a socialist and maybe even a communist.
However, as the first quarter of this year is ending, companies were expected to deliver essentially zero profit growth. Instead, with more than half of the companies in Standard and Poor’s
500 having now reported first quarter results, companies are showing 6.7% growth for the 10th consecutive period of profit increase.
There is also evidence that companies are beyond just cutting costs. Analysts are standing by forecasts calling for increasing growth through the rest of the year.
When President Obama took office the stock market stood at just over 8,000 and now is over 13,000. This is over a 50% increase since President Obama took office. These numbers certainly show how ridiculous all the socialist and communist talk is.
In addition, domestic oil and gas production are at an 8-year high. The economy has a way to go until it has fully recovered.
The president has been working to fix a mess he did not make. Remember that the Romney campaign says its economic plan is an update of the Bush plan, which is what got us into the current situation. As Vice President Biden said, “Under the Obama Administration, bin Laden is dead and General Motors is alive.”
Sincerely,
John Hiestand
Hillsboro