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August 27, 2011

More Obama Hope & Change: 2nd Quarter GDP Revised Down to 1%

Posted in: Barack Obama,Economy,GDP,Hope and Change,Jobs,Obamanation,Obamanomics,Polls,Unemployment

Hope and Change Obama Style.

The bad economic news of Barack Obama’s presidency just got worse. Everyone thought that the 1.3% GDP initially announced was bad, guess what sports fans, the Department of Commerce just revised it down to 1%.  Add this to this weeks increase in first time unemployment benefits, the 9.1% unemployment rate and the an 18.2% underemployment rate. America cannot stand 4 more years of this nonsense.

Real gross domestic product — the output of goods and services produced by labor and property
located in the United States — increased at an annual rate of 1.0 percent in the second quarter of 2011,
(that is, from the first quarter to the second quarter), according to the “second” estimate released by the
Bureau of Economic Analysis. In the first quarter, real GDP increased 0.4 percent.
The GDP estimates released today are based on more complete source data than were available
for the “advance” estimate issued last month. In the advance estimate, the increase in real GDP was 1.3

Barack Obama has earned his 26% approval and 71% disapproval rating on the economy. It was Obama who said that he would be judged on his handling of the economy in the 2012 election, wasn’t it? It sure was.

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