More Obamanomics … welcome to
More bleak economic news as a result of Democrat and Obama policies. The GDP for the second quarter of 2011 for the US is, drum roll … 1.3%!!! Wow, thank you Barack Obama. Does that even count as growth? Needless to say the markets are reacting prior to opening and are down. Oh wait, it gets worse, if that is possible. First quarter GDP was sharply revised down to a 0.4% from 1.9%. But wait there’s more, fourth quarter growth from 2010 was revised down to a 2.3% from 3.1%.
Growth in gross domestic product — a measure of all goods and services produced within U.S. borders – rose at a 1.3 percent annual rate, the Commerce Department said. First-quarter output was sharply revised down to a 0.4 percent pace from 1.9 percent.
Economists had expected the economy to expand at a 1.8 percent rate in the second quarter.
In addition, fourth-quarter growth was revised down to a 2.3 percent pace from 3.1 percent, indicating that the economy had already started slowing before the high gasoline prices and supply chain disruptions from Japan hit.
Obama and the Democrats have done everything possible to put Americans into Hoovervilles. This President truly is an OBAMANATION and an EPIC FAILURE!!! Unemployment, debt and GDP, OH MY!!! This president has done nothing but harm the economy, they best thing Obama could do to help the United States is resign. Obama has truly become Jimmy Carter. Just like in 1980, the only way that America was to return around from its “malaise” was for Carter to be voted out of office. Does it really surprise anyone that Obama has a 41% approval to be reelected? Look for that number to go down even further. Which begs the question … Has Obama become “landslidable” in 2012? Look for that future post in the near future.
Brian in a Blue State