Tags: Steve Malzberg Show | Stephen Moore | Obamanomics | small businesses

Heritage's Stephen Moore: Economic Recovery an Obama Illusion

Wednesday, 28 Jan 2015 04:47 PM

The so-called economic recovery being touted by President Barack Obama is really an illusion says Stephen Moore, chief economist for The Heritage Foundation.

"Family incomes continue to fall … The people in the top 10 or 20 percent are doing pretty well. The people in the bottom 80 percent are doing poorly," Moore said Wednesday on "the Steve Malzberg Show" on Newsmax TV.

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"Here's a president who has been so hyper obsessed with income equality and yet he's made income inequality worse than just about any president going back nearly 100 years."

As well, consumer prices continue to rise and small businesses are struggling, according to Moore.

"This is maybe the most disturbing statistic of all, which is that the small business creation index, monitoring how many new businesses are being created every month, has fallen to a 10-year low," he said.

"It's incredible because this is supposed to be the fifth or sixth year of recovery and yet people are becoming very risk averse about setting out their own shingles and starting their own business.

"That's a terrible lead indicator for the economy and employment because as you know two out of every three new jobs comes from small businesses. If we're not creating small businesses, we're not creating jobs."

Moore is also astounded that Obama is taking credit for falling gas prices.

"The president has done everything he can to try and stop [energy production]," Moore said.

[He said on Monday] he's going to take 10-12 million acres in Alaska off limits for drilling. That's some of our best oil and gas in the world. That was outrageous.

"Did you see what the senator from Alaska said today that Barack Obama has declared war on the state of Alaska? She's right. That's how people making their living there see it."

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The so-called economic recovery being touted by President Barack Obama is really an illusion says Stephen Moore, chief economist for The Heritage Foundation.
Stephen Moore, Obamanomics, small businesses
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2015-47-28
Wednesday, 28 Jan 2015 04:47 PM
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