The news sent the Dow Jones, S&P and NASDAQ sharply lower as investors are becoming increasingly wary of indicators such as this hint at a slowing U.S. economy.
The Obama administration can continue to tout untruths about the strength of the U.S. economy under their watch; however, numbers like these tell all. It’s no wonder that manufacturing continues decline in the U.S.; the unremitting threat of increased taxation to businesses would send any coherent U.S. business owner to foreign markets for employment. Yet the Obama Administration’s only solution to the current economic disaster is to redistribute the wealth of individual citizens and American corporations in the name of income inequality. We will undoubtedly continue to see staggering unemployment numbers and the reduction of manufacturing within the U.S. as long as the current administration stays this course. America, now more than ever, needs a leader who understands the fundamentals of a capitalist economy.