Still Waiting for Those Exports to Double. And Waiting. And Waiting. December 11, 2012Posted by geoff in News.
As you may recall from a post in October, the President promised to double US exports in 5 years, with the clock starting in January of 2010. This wasn’t an idle promise: cranking up exports is one of his fundamental strategies to promote economic growth.
“If we’re going to grow, it’s going to be because of exports,” Mr. Obama told a meeting of business executives at the Asia-Pacific Economic Cooperation meetings in Hawaii in November .
The President doesn’t often make verifiable predictions, because every time he does, he falls on his face. I hate to discourage him from making concrete promises, but this one was wildly optimistic and beyond his control to keep.
The scariest part is that there must have been an economic advisor who told him that this was a sure thing. No wonder everything they’ve done has been ineffectual at best.