With nowhere to hide from the dismal results of his failed economic policies, President Barack Obama's 'Yes We Can" became "It could be worse." Today we found out it is. Contrary to previous estimates, the US economy grew at a meager 1 percent annual pace this spring a full year after what the administration promised would be Recovery Summer. We now stand perilously close to another recession.

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Still this president refuses to acknowledge that his over borrowing, over spending and over regulating has turned a shaky economy into a near disastrous one with a sustained unemployment rate over 9% and virtually every other economic indicator falling.

He recently paid lip service to regulation reform when he announced plans to streamline some government regulations that would "likely" result in a savings of $10 billion over five years.

Meanwhile Speaker of the House John Boehner (R-Ohio) will be sending the president a letter tomorrow asking that the administration calculate and release the economic impact of its planned new regulations. "This year, the administration's current regulatory agenda identifies 219 planned new regulations that have estimated annual costs in excess of $100 million each," Speaker Boehner wrote, "That’s almost a 15 percent increase over last year and appears to contradict public suggestions by the administration this week that the regulatory burden on American job creators is being scaled back."

The letter goes on to state that "the [Environmental Protection Agency] estimates that at least one of its proposed rules will cost our economy as much as $90 billion per year," and that, "The administration has not disclosed how many of the other 218 planned rules will cost more than $1 billion, nor identified these rules."

It's doubtful that President Obama will provide the information the Speaker is requesting since, as House Minority Leader last summer, Mr. Boehner made a similar request to no avail. Instead this president will continue playing his bait and switch game - promising to eliminate $10 billion in job-killing regulations over 5 years while adding at least $90 billion more in one year.

And the march toward even worse goes on.