4th Quarter GDP - Obama's Economic Policies At Work


#1

4th Quarter GDP was just announced. The Obama economy “grew” at a rate of minus (-) 0.1% during the 4th quarter of last year. That’s recession territory. Obama’s anti business, anti energy, anti capitalism, pro regulatory regime on steroids and pro government growth policies, as well as playing “chicken” with the economy vis a vis the fiscal cliff that served to give him leverage for his tax and spending and deficit increases, have certainly worked. And just think, the effects of his recent tax increases have not been felt, yet. Yes, happy days are here again!!

Damn, I wish it would warm up here in north Texas. I want to go fishing!!


#2

But that’s impossible. The liberals have told us that the economy is recovering.
:howler:


#3

Yes, JS. And we have al Queda on the run!!


#4

“I am not going to keep cutting the discretionary budget, which by the way is not out of control, despite what you hear on Fox News,” said Democratic Senator Mary Landrieu.
Blind deaf and dumb.


#5

She really is an idiot. We’re doing our best to take her down this go-round.


#6

Isn’t the Landrieu family the most corrupt family in Louisanna? That doesn’t come easy, they had to work hard to get that distinction.


#7

One of. We have many from the old Democrat party that are just as bad, if not worse. Mary’s brother Mitch is a former federal prosecutor here, I have served on a grand jury that he’s brought cases before. He’s now the mayor of NOLA. The family also has several businesses to include construction and other contractors. << Quite well paid by local gov’t contracts I might add.

Mary generally keeps her seat because her last name is an old Louisiana name, and when she runs in some areas she’ll get the vote by default against a non-French sounding name, and other areas because of the D.

I don’t like it, but that’s the way it is.


#8

But Tiny - we have al Queda on the run!! [/sarc]


#9

:banghead:

[quote=“MDMikeB, post:8, topic:38009”]
But Tiny - we have al Queda on the run!! [/sarc]
[/quote]Yep, and the mean ole Republicans want to throw granny off a cliff.:rofl:


#10

Keep in mind GDP counts government spending the same as private sector spending, so we are in reality much worse off than that number shows.


#11

Oh that’s just the initial number. It will be adjusted down in a few weeks.


#12

You are no doubt correct, tperkins. I noticed that last November’s private sector jobs growth was originally reported to be 215,000. That figure was revised downward today to 185,000. This morning’s report set new private sector jobs in December at 192,000 VS the projected number of 175,000. However, when revised figures are revealed next month the revision will most likely fall to around 170,000. It is a cold day in Hell whenever the reported GDP or jobs numbers are revised upwards.

As a consequence, I think it very likely that next month today’s GDP figure of -0.1% will be revised to -0.2%. Now, to be fair, Sandy certainly had some impact, albeit small, on the GDP - but we are 4 years into the Obama presidency and $5 trillion additional in debt at the hands of this ass clown and his Congressional cohorts with no end in sight and we are churning out these economic numbers. In addition, with the number of people that are no longer being counted in the unemployment figures as a result of dropping out of the job market, we KNOW that the nation’s unemployment rate is considerably higher than the reported 7.8%. The impact of the recent tax increases and Obamacare have yet to be felt to any degree.

I’m no genius and there are people on this cite that know more about this stuff than I do, but I know one thing - this can’t be good. The one bright spot - at least in some areas of the country - is housing. However, another quarter like the one we just experienced could take much of the steam out of that sector.

Regardless a person’s political philosophy there is simply no way to paint a happy face on any of this.


#13

The fact you are even hearing about this tells you its bad. The Obama Administration has cooked books, hid budgets, doctored, data, and all the good stuff you see in big central authoritarian regimes. If they say minus 0.1, don’t be surprised if its -1.0


#14

[quote=“JStang, post:5, topic:38009”]
She really is an idiot. We’re doing our best to take her down this go-round.
[/quote]Yes, I hope you do.


#15

This is amazing, Christmas spending falls primarily in the 4th quarter so coming up with negative growth in the 4th quarter is very hard to do.

I knew the election results would cause a sell-off of long term Capital Gains holdings to take advantage of the current rates and a “battening down of the hatches” on the part of domestic businesses but I would not have guessed that this would be universal enough to overcome the holiday spending.