Yesterday on his company’s conference call, Wynn Resorts CEO Steve Wynn went on a fantastic, blistering tirade against the Obama administration.
He accused the administration of being a “wet blanket,” killing job growth by introducing so much uncertainty.
So has the private sector really shriveled under Obama? No.
This chart looks at GDP without net government spending (AKA the deficit, AKA the difference between how much the government is pumping in via spending compared to how much its taking out via taxes). What you’re left with, basically, is private sector growth.
It turns out growth is robust: The private sector is growing at just under 5% right now.
Not bad at all under an administration that supposedly hates business.
And of course, this fits in with what other data has showed: It’s the public sector that’s shedding jobs right now (as stimulus wears off), and the private sector adding them.