(Washington Times) At a recent appearance in Austin, Texas, President Obama attempted to make the case that America was back in the swing of things and that the Obama Administration’s initiative for economic recovery was truly coming to fruition. “Terrific things are going on in communities all across America,” the President proclaimed, quickly adding in a swipe at Congressional inaction as the impediment for greater progress.
U.S. consumer confidence in May was at its highest in six years, stock market gains have been impressive, and there has been some uptick in U.S. home prices.
But considering how far down these indicators had been and for how long, this comparatively rosy picture of economic conditions is far from something to jump for joy about.
