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Posts Tagged ‘3rd Quarter GDP’

The Obama Boom: 3rd quarter GDP grows at an anemic 2% due to government spending

by Phantom Ace ( 165 Comments › )
Filed under Business, Economy, unemployment at October 26th, 2012 - 10:30 am

The Obama lapdog media is already crowing about the latest GDP numbers and they are proclaiming that the economy is strong and we are living through an unprecedented boom.  The economy grew at a 2% for the 3rd quarter of 2012 which is a slight improvement from the 1.3% growth of the 2nd quarter. 2% no matter how you slice it is still an anemic figure and it is nothing to brag about and in this case its totally artificial since most of the growth came from a 9.6 % increase in government spending!

The U.S. economy expanded at a slightly faster 2 percent annual rate from July through September, buoyed by an uptick in consumer spending and a burst of government spending.

The Commerce Department said growth improved from the 1.3 percent rate in the April-June quarter.

The pickup in gross domestic product may help President Barack Obama’s message that the economy is improving.

Still, growth remains too weak to rapidly boost hiring. And the 1.74 percent rate for 2012 trails last year’s 1.8 percent growth, a point GOP nominee Mitt Romney will emphasize.

[….]

Government consumption and expenditures soared 9.6 percent after decreasing 0.2 percent in the second quarter.

Defense spending surged 13 percent after also decreasing 0.2 percent during the previous period.

This is a terrible number for the economy.  Two percent represents stagnation and is not enough to keep up with new workers trying to enter the workforce.  When George W. Bush was president, a growth of 2.5% to 3% was called anemic (or a jobless growth), but now that Obama is president, 1.5% to 2% is considered good economic news – that’s how much we have lowered our expectations for “the greatest economics president we ever had” (as Bob Beckel once pronounced him to be).  Keep in mind that when Poppy Bush lost in 1992, 3rd quarter GDP was 4%, therefore  Obama’s economy is worse than Bush’s 20 years ago.  Still the media in its quest to reelect the fraud, will push the 2% as “happy days are here again”.

There is no Obama Boom and hopefully on November 6th, Americans will reject this propaganda.

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Posted in Business, Economy, unemployment | 165 Comments »

The Obama Boom: Obamabot thanks Obama for 2.5% growth

by Phantom Ace ( 129 Comments › )
Filed under Barack Obama, Economy, Humor, Progressives at October 29th, 2011 - 2:00 pm

The Left are back to celebrating the Obama Boom! The Progressives are cheering the 2.5% growth figure in GDP. The media has proclaimed that good times are back. On cue, the Obamabots are celebrating! Some are thanking Obama for what they consider to be awesome economic news.

This comment I found at Politico.

It’s really sad when people celebrate a 2.5% growth in GDP. This is the mentality of Obama supporters on display. They will hang onto any illusion to support him.  President Hussein has a cult like following.

Update: Here’s another comment thanking Obama for these “great” GDP numbers.

Obamabots really are not that bright. 2.5% is nothing to crow about.

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Posted in Barack Obama, Economy, Humor, Progressives | 129 Comments »

The Obama Boom: The Media celebrates 2.5% growth in Q3

by Phantom Ace ( 4 Comments › )
Filed under Barack Obama, Democratic Party, Economy, Headlines, Progressives at October 27th, 2011 - 10:23 am

The Obama Boom is back! The media is celebrating the fact the US economy grew at a 2.5% rate in the 3rd Quarter.

US economic growth increased at its fastest in a year in the third quarter as consumers and businesses set aside fears about the recovery and stepped up spending, creating momentum that could carry into the final three months of the year.

At the same time, slightly fewer people sought unemployment benefits last week, though level remains elevated above 400,000.

Though part of the increase came from the reversal of temporary factors that had restrained growth, the expansion was a welcome relief for an economy that looked on the brink of recession just weeks ago.

U.S. gross domestic product expanded at a 2.5 percent annual rate in the third quarter, the Commerce Department said in its first estimate on Thursday. That was a big acceleration from the 1.3 percent pace in the April-June quarter and matched economists’ expectations.

Good times are here again! Seriously, 2.5% growth is nothing to brag about. This will not stop the media from declaring things are good again and that Obama is an economic genious . If the economy keeps up at this pace, the media will tell people how good things are in America.

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Posted in Barack Obama, Democratic Party, Economy, Headlines, Progressives | 4 Comments »