I didn’t think so.
Not with durable goods orders plummeting 4 times more than expected:
New orders for U.S. manufactured goods fell in January by the most in three years as demand fell across the board from machinery to aircraft, suggesting the economy started the year on weaker footing than expected.
Durable goods orders dropped 4.0 percent, the biggest drop since January 2009 when the country was still mired in a deep recession, according to Commerce Department data on Tuesday.
Economists had forecast orders falling 1.0 percent.
Durable goods range from toasters to big-ticket items like aircraft which are meant to last three years and more.
And let’s not forget the abysmal home price index. Homes are now at levels not found since 2002:
Home prices fell in December for a fourth straight month in most major U.S. cities, as modest sales gains in the depressed housing market have yet to lift prices.
The Standard & Poor’s/Case-Shiller home-price index shows prices dropped in December from November in 18 of the 20 cities tracked. The steepest declines were in Atlanta, Chicago and Detroit. Miami and Phoenix were the only cities to show an increase.
The declines partly reflect the typical slowdown that comes in the fall and winter.
Still, prices fell in 19 of the 20 cities in December compared to the same month in 2010. Only Detroit posted a year-over-year increase. Prices in Atlanta, Las Vegas, Seattle and Tampa dropped to their lowest points since the housing crisis began.
Nationwide, prices have fallen 34 percent nationwide since the housing bust, back to 2002 levels. A gauge of quarterly national prices, which covers 70 percent of U.S. homes, fell to its lowest point on records dating back to 1987 after being adjusted for inflation.
I think this picture does Obama’s economic plan plenty of justice:
Source: KICKIN AND SCREAMIN