Yesterday John Hinderaker at Power Line posted an article about the current state of the manufacturing segment of the American economy–it’s shrinking again. It is understood that President Obama inherited a miserable economy when he took office, but he has been in office for 3 1/2 years–it is now his economy. The annual growth of the economy this year is expected to be about 1.5%. In contrast, the annual growth of the economy during the fourth year of the Reagan Administration was 7.3%. Reagan also inherited a miserable economy, but his policies turned it around. I believe that if Mitt Romney is elected, his policies will turn the economy around.
This is how the manufacturing sector has looked for the past 10 years: