Unemployment is falling. The jobs numbers are up. The stock market continues to hit all-time highs. Corporate profits are at historic highs. And now the 4th quarter gdp is at 4.1%. There must be confederate flags at half-mast today in "conservative" states across the nation over this news. What? Letting the Bush Tax Cuts expire didn't cripple the economy? SHOCKER. But don't worry, I'm sure that Obamacare, which is mostly in effect now will lead to a destruction of the economy so that right-winger can once again be pleased with themselves. Unless, of course, we ignore the fact that the ACA is actually creating jobs and making a huge positive impact on the economic numbers. Yet another nail in the coffin of "Trickle Down." Enjoy your holidays GOPers because the election season, if the current trends continue, is going to be pretty long for you guys. http://money.cnn.com/2013/12/20/news/economy/gdp-report/index.html?hpt=hp_t2 Wow! U.S. economy revved up By Annalyn Kurtz @AnnalynKurtz December 20, 2013: 9:57 AM ET NEW YORK (CNNMoney) Wow! The U.S. economy suddenly looks a lot perkier in the third quarter, according to revised data released by the government on Friday. Gross domestic product -- the broadest measure of economic activity -- grew at a 4.1% annual pace in the third quarter, up from the 2.8% pace that was first reported in November. It was the fastest quarter for economic growth in two years, according to the Bureau of Economic Analysis. The government typically reports its GDP figures at least three times, and Friday's report is the final number for the third quarter. "With each of the revisions, we've been getting better data and it's showing there's some better traction with the consumer than we had initially expected," said Wells Fargo senior economist Sam Bullard. "There is more momentum in the economy than we originally thought." Larger increases in consumer spending as well as business investments in commercial real estate, industrial equipment and intellectual property like software were some of the main reasons why GDP was revised higher.
It's not "booming". It's creeping back to something approximating what it would have been all along if the Wall Streeters hadn't been allowed to treat the economy like a free-candy shop.
It is booming. However, the "boom" is being felt primarily at the top and simply hasn't "trickled down" as we are continuously told it will by adherents to the failed "Supply Side" economics camp.
This is great news. Now when people stop spending discretionary cash next year on food, entertainment and big ticket items because they have to pay double, triple or more for their new ObamaCare premiums, we can all point our finger at how great the Clinton News Network report on the booming economy is. Forward!
Several years ago, George Bush was lambasted for letting unemployment get up to 6%. Meanwhile Obama can't get that figure below 7% and liberals are falling all over themselves talking about how wonderful he is. If this is a "booming economy" then God help us all.
So your Democrat Party cheerleading thread was designed to point out that the rich are doing well? How out of character.
It's "booming" if you go by the Obama standard of lowered expectations. And, of course apply a lot of spin to get the result you want. For instance, don't pay any attention to the fact that the labor force participation rate is at a 30 year low and that if the same amount of workers were in the market now that were there in 2007 we'd still have close to 10% unemployment. Pay only attention to the number.. 7%. That's apparently a number worth celebrating. Keep in mind that the average 2% GDP growth that we've had is a good number to progressives. Keep it as close to 0 as possible, because economic growth is bad for the environment and causes global warming.
I have to continue. I @ how you've just painted yourself into a corner. Let's what the possible options are from here: 1) The economy continues to "boom" (by your definition, which is that only the rich are getting richer), but the middle and lower classes continue to die on the vine. This means...what? for you and yours? Will you finally admit that Obama and the Dem controlled Congress - along with their ideology - is a total failure? 2) The economy continues to "boom", but finally it seems to be trickling down to the middle and lower classes, at which point...what? You have to admit that Trickle Down is real? Oh, I am gleeful at the opportunities!
Also our national debt is now at the 17 trillion dollar mark . . . and still growing. I think that our Obama worshipers would consider the destruction wrecked by the Japanese tsunami of a couple of years ago as just a trifling amount of rising damp in the basement if Obama or one of his flacks uttered that assessment.
I'm just amazed at how desperate they are to have the legacy of the first non-white male President come out sterling, no matter what. In many ways, their ideology is dependent on the history of the Obama Presidency. They'll distort whatever they have to in order to get the narrative they want.
Soooo, if the economy is booming then way to the *******s need to extend unemployment benefits? Why are food stamps and welfare recipients increasing and not decreasing? More hypocrisy from the left.
+1 +1 +1. He has been so atrocious in his 5 years as President that some people have lowered their standards so far. 7% unemployment is the new norm. How pathetic is that??
You know their values by what they spend their time discussing. They aren't complaining about the unemployment rate. 7-8% is fine, because that's what it has been in areas of Europe for a long time. They spend their time talking about "wealth disparity", because they would rather live in a society where 8% of the population is unemployed, if it meant that there weren't people amongst them who were much richer than they were. It's a mixture of jealousy and spite... all negativity.
Funny the same people that contradict you Are the ones That Seem to think people on welfare and food stamps and unemployment compensation Some how can easily get a job And They are nothing but lazy freeloaders
4% is actually not that good. It just seems good because of the atrocious job Obama has done thus far. The average GDP growth rate for the 12 years of Reagan-Bush (sr.) was 6.97%. And that was the 12 year average. Let me say that again: For the 12 years from 1981 to 1992 (inclusive) the AVERAGE GDP growth was almost 7%. And here's one more thing the liberal morons don't realize. Obama didn't have an annual growth rate of 4.1%. He had one single quarter where the growth rate relative to the prior quarter projects out to an average of 4.1% annually. This is Obama's 5th year in office and he has only broken 4% annual growth once (and he isn't going to do it this year either). George W. Bush has been condemned by the liberals left and right for his handling of the economy. Well in 5 of his 8 years in office he did better than 4% GDP growth rate. His average was 4.22%, and that includes the one year he had negative growth.
Unfortunately for you, most people can use context and aren't dim enough to fall for this pitiful argument. Bush left the biggest economic trainwreck of our lifetimes as president. If the president gets U3 to 6% by the end of his sixth year, it would be an enormous accomplishment, ESPECIALLY when you factor in the obstructionist tactics of the GOP. Record filibustering, government shutdowns, fiscal cliffs and sequester cuts in heaping doses. Think your approval ratings are awful now? You haven't seen nothing yet.
Unfortunately for you, most people aren't dim enough to keep blaming Bush 5 years after he has left office. Liberals are certainly that dim, however.
We're booming alright. But the boom sound is merely China buying up everything that's still worth anything.
As opposed to leftwingers who apparently think that having huge numbers of people on welfare and food stamps and unemployment compensation equates to . . . a healthy and booming economy.
The Republican House has done a great job keeping The Worst Ever's memory alive. People don't soon forget, which is why the Grey Old Party in 2013 has all the popularity of a scorching case of syphillis. Btw, the number of months of -7% unrmployment for Reagan 5 years into his presidency? One.
