Economic growth in US down to 1.5%

Where are all the hyperlibs this morning telling us how wonderful the economy is and, to remind us, as Obama tells us, "the private sector is doing just fine!"

Obviously, Libocrats have a very different idea of what "doing just fine" means if they are happy with growth of 1.5%:

http://www.nydailynews.com/news/nat...-slowed-1-5-rate-april-june-article-1.1123271

http://www.ft.com/cms/s/0/2e20b90e-d7e8-11e1-9980-00144feabdc0.html#axzz21vGJiFsO

http://www.washingtonpost.com/busin...ast-3-months/2012/07/27/gJQAK8diDX_story.html

And, yeah, the hyperlibs will tell you it's all Bush's fault, but after Bush left, the Obama regime orchestrated "rescues", "bailouts", "stimulus" frauds, "quantitative easings I and II, interest-manipulating "twists", and other Keynesian nonsense for the past 3 1/2 years -- and what has it gotten us? A National Debt that stands this morning at a staggering $15.9 TRILLION dollars (it was $10.6 Trillion when Bush left office).

How in the name of sanity could anyone but a reckless, careless Socialist, who has never had to earn his own living, want FOUR MORE YEARS of this kind of delusional financial idiocy?!

 

As long as libs have Obama to hand out government checks they don't need a good economy.

 

Unfortunately you're right. About half the people in this country don't pay taxes, and nearly half the population is on public assistance of one kind or another. They couldn't care less if the so-called recovery is real or not, as long as they get their government checks, food stamp credit cards and all the rest of the expensive crap that ran the national debt up to nearly $16 trillion dollars The really bad thing about this is that you can be on welfare and still have the right to vote in this country. That is the killer! And it will kill us too! The only "growth" they notice is the growth in their ass from sitting on it all day and doing nothing. The only interest they have in the growth of a business is so that the government can tax it more to provide more welfare forever.

 

Obama built that.

 

There are also all the government workers who generally make more that they deserve.

While a few might lose their jobs in a bad economy Obama is working tirelessly to get as much money for them as possible.

So they also get paid the same whether the economy is growing or not.

 

I can't provide metrics to support this, but I've always believed that Americans alone CANNOT consume themselves into sustainable prosperity!

I also believe there are no guarantees that the private economy will grow at a prescribed rate which will provide Americans with everything they need.

And, I respect the fact that the USA today operates in a global economy.

So, if we can't consume ourselves into sustainable prosperity, then the USA must encourage consumption from outside of the USA...which would be exports.

If the USA operates in a global economy, then the USA has no choice whatsoever but to compete with business entities outside of the USA.

It is obvious to me, that current domestic consumption is about 65% of the economy with the other 35% being exports. So I ask myself what does it take for more domestic and foreign consumption of American products and services? What is the impetus to increase either of these consumer driven economies?

Is it possible that most Americans simply don't have the money, or the need, to buy much more stuff? Is it possible that we cannot greatly increase exports because of the cost of doing business in the USA? If so, then how can we expect GDP growth to be anything more than 1-2%?

Something like 10,000 baby-boomers retire every single day, and these boomers were consumers on steroids! Are they being replaced with 10,000 equal consumers every day...I don't think so.

As costs to do business in the USA continue to climb, how can this allow US business to be more competitive in the global economy thereby increasing exports?

I think every single American is to blame...

 

Any way you cut it, this "band-aid economy" recovery was nothing but Federal Reserve bull(*)(*)(*)(*) from the beginning. If anybody doubts that what will they say between now and about the end of September when Bernanke powers up the printing presses and "stimulates" the economy with yet another Quantitave Easing? All this does is keep the Suckers Rally going on Wall Street and prop up the bankers. A growth rate of 1.5% is practically grounds for impeachment given that Obama has swelled the national debt nearly six trillion dollars to accomplish nothing better than that. What a bunch of really stupid idiots these socialists are.

 

1.5% is a really bad number it is bad just like 8.2%.

Obama is a total failure.

 

I've noticed some liberals on this forum have made the argument that our current economy is an Obama success story, because there is positive economic growth, even though economic growth has been declining all year. I recently saw an Obama ad in which he said his plan worked (!).

I wonder if he can actually get re-elected at the same time we slide into a new recession? If so, I guess we will have earned a 2nd term Obama administration.

 

the gop and guys like bill looman are who you can thank for the economy


Georgia Businessman Refuses to Hire Until Obama Is Fired

Nov 25, 2011

A Georgia businessman has an ultimatum for America: Fire President Obama, or he will not hire any more workers. Bill Looman, owner of U.S. Cranes LLC, said he is fed up with the bad economy and D.C. politicians who do nothing to solve the problem. So until there is a change of leadership, his company trucks will bear the message: “New Company Policy: We Are Not Hiring Until Obama Is Gone.”

http://abcnews.go.com/blogs/politics/2011/11/georgia-businessman-refuses-to-hire-until-obama-is-fired/

 

We can? Did Bill Looman draft all of the liberal regulations and crushing oversight bull(*)(*)(*)(*) that caused him to let 3 workers go?

 

Leftist ideologues don't care about the plights of small business owners. In fact, some of them probably take pleasure in their suffering. All these closet socialists are interested in is expanding government and perpetuating their fraudulent patronage system. They expect small business owners to take the abuse and keep carrying the employment and tax burden in silence...

 

Good on him. More businessmen and women should stand up to the anti-business rhetoric and policies of the radical left.

 

Yes it really sucks that small business can hold government hostage to their desires...oh wait...hmmm nevermind...

 

You can thank Obama for his failed policies and threats to people and companies who want to expand the economy for the economy we have.

"The most recent comparable recession occurred in 1981-1982. Yet as the nearby chart shows, the Reagan expansion exploded with a 9.3% quarter and kept up a robust pace for years. By the 12th quarter of expansion, growth popped up to 6.4.%. At this stage of the Reagan expansion, overall GDP was 18.5% higher versus 6.7% for the Obama recovery, according to Congress's Joint Economic Committee. Even comparing this recovery with the average since the end of World War II, the Obama growth rate is well below the norm of 15.2%. The U.S. is running about $1.5 trillion of economic output behind where it should be.
This may sound like an abstraction, but it is the difference between a robust job market and lost opportunity for millions of Americans. It is the difference between a small federal budget deficit and more than $1 trillion for four straight years. It is the difference between a rising or falling poverty rate.....



"By the way, the federal Bureau of Economic Analysis chose this quarter to revise the post-2008 GDP numbers based on more detailed data, and it shows that the recovery was even weaker in 2010 than previously estimated. The growth rate for the first two quarters of 2010 were revised sharply downward, and for the year to 2.4% from 3%. The revisions also show the trough in 2009 was not as deep as originally thought. This further discredits the value of the government's 2009-2010 stimulus spending bonanza. Business investment and inventory buildup were both revised downward for 2010, which suggests that the stimulus did very little to boost business confidence. "
And what is his ONLY plan to get the economy going, higher taxes on businesses and the people who own them. What a plan, goes hand in hand with his plan to bring down the unemployment rate, just get everyone to stop looking and go on government subsidence and we don't have to count them any more........."
http://online.wsj.com/article/SB100...7553211912280818.html?mod=WSJ_Opinion_LEADTop

It is time to fire this inept administration.

 

Not to argue over semantics, but economic growth is different from Real GDP growth (or percent change in Real GDP). The latter is applicable to the reported metric.

 

And for the purpose of our discussions here what is the distinction you are making?

 

Economic growth denotes increases in potential output, also known as long-run aggregate supply, real output per worker, or productivity. Real GDP growth, or percent change in real GDP denotes changes in aggregate demand, a short-run measurement. If economic growth in Q2 2012 is 1.5 percent, most people would be ecstatic, whereas a 1.5 percent change in real GDP is anemic short-run growth at best.

 

I think people make the distinction between future economic growth or potential versus economic growth we have already experienced as measured by GDP so using the term either way works as long as they are clear they are talking past or future.

 

As long as you know what you are talking about, I have no problem with incorrect economic terminology. I just thought I would provide the correct terms with proper definitions.

 

I heard some talking heads saying that we are going to slide into a recession. I thought we were already in a recession, or is this a full blown depression. Hard to figure out the difference these daze.

 

The big businesses are on the side of republicans because they get lower tax rates when their in office, so they stop hiring and limit job growth during President Obamas term to make him look bad with poor economic growth data.

Americans can protect their welfare by staying the course, weather the storm, and eventually socialism will takeover and big business will work for us instead of us working for them.

 

I don't work for big business, RIGHT NOW....

 

Yes you do even when it isn't else you wouldn't have posted what you did.