And you thought 0.1% GDP was bad …
On Thursday the Commerce Department adjusted down the first quarter GDP, Gross domestic product, to – 1.0% for the first three months of 2014. The agency had initially last month estimated GDP grew at a 0.1% rate in the first quarter. Oops, missed it by that much. How’s that Obamanomics working out for you America? A recession is defined as a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. However, because job wages have remained stagnant, if you have one, while food prices are up, gas prices are up and energy prices are up, most Americans feel that we are still in a recession.
The recovery that wasn’t. Of course the Obama folks are quick to point to the harsh winter weather for the downturn. Hmm, what happened to global warming? But what happened in the first quarter of 2014 … how about Obamacare enrollment?
The United States GDP shrank at an annual rate of 1.0 percent in the first quarter of 2014, according to the second estimate released by the Commerce Department. It is the worst performance in three years and comes lower than a preliminary estimated 0.1 percent expansion, due to a sharper fall in private inventory investment and a bigger trade deficit.
The downturn in the percent change in real GDP primarily reflected a downturn in exports, a larger decrease in private inventory investment, and downturns in nonresidential fixed investment and in state and local government spending that were partly offset by an upturn in federal government spending.
The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 1.3 percent in the first quarter, 0.1 percentage point less than in the advance estimate; this index increased 1.5 percent in the fourth quarter. Excluding food and energy prices, the price index for gross domestic purchases increased 1.3 percent in the first quarter, compared with an increase of 1.8 percent in the fourth.
Remember when President Barack Obama spoke of the job recovery that was under way … Neither do most Americans!
During Barack Obama first State of the Union Address in 2009 he stated the following: “It’s an agenda that begins with jobs. As soon… As soon as I took office.” Instead he focused 100% on passing Obamacare against the will of the people.
According to the most recent CNN poll, not only is Barack Obama struggling with low job approval numbers and trust issues on Onamacare, with regards to the #1 issue facing Americas today, the economy, 59% things are going badly, only a mere 24% believe the economic recovery is under way. Exactly how long has Obama been making that promise? And instead of making jobs the number one issue, he goes out of his way to destroy jobs with over-regulation and his healthcare and energy agenda. Obamacare has caused business to fire individuals or reduce the jobs from full-time to part-time. An his energy policies are doing their best to destroy the coal industry in the United States.
Americans views on the state of the nation are turning increasingly sour, according to a new national poll.
And a CNN/ORC International survey released Friday also indicates that less than a quarter of the public says that economic conditions are improving, while nearly four in ten say the nation’s economy is getting worse.
Forty-one percent of those questioned in the poll say things are going well in the country today, down nine percentage points from April, and the lowest that number has been in CNN polling since February 2012.Fifty-nine percent say things are going badly, up nine points from April.
Besides an obvious partisan divide, which contributes to a urban-rural gap, the survey also indicates a difference of opinion between younger and older Americans.
So its not just Obamacare that Americans are dissatisfied with Barack Obama. It is coming from all directions and at some point it will reach the point of no return, if it already hasn’t.
Yea, imagine if we actually did what Obama promised and did oil exploration in the US and made dependency on Middle East oil a thing of the past. Imagine if we regulated less and allowed the American industrial machine to take off. Imagine if we allowed for increases in nuclear, clean coal, oil, natural gas and the dreaded fracking
Imagine what we could accomplish if we followed their example. Think about the America within our reach: A country that leads the world in educating its people. An America that attracts a new generation of high-tech manufacturing and high-paying jobs. A future where we’re in control of our own energy, and our security and prosperity aren’t so tied to unstable parts of the world. An economy built to last, where hard work pays off, and responsibility is rewarded.
The very small business jobs that Obama is touting are the very one’s that Obamacare is destroying.
But we have never measured progress by these yardsticks alone. We measure progress by the success of our people. By the jobs they can find and the quality of life those jobs offer. By the prospects of a small business owner who dreams of turning a good idea into a thriving enterprise. By the opportunities for a better life that we pass on to our children.
This recession has also compounded the burdens that America’s families have been dealing with for decades – the burden of working harder and longer for less; of being unable to save enough to retire or help kids with college. [Save enough? How are Americans supposed to save with the increase in energy costs, the price at the pump and high premium costs of Obamacare? Let along college ids can't get jobs.]
The plan that has made all of this possible, from the tax cuts to the jobs, is the Recovery Act. That’s right – the Recovery Act, also known as the Stimulus Bill. Economists on the left and the right say that this bill has helped saved jobs and avert disaster. But you don’t have to take their word for it. [Yea, how did that "Hopey-Changey" stimulus waste of tax payers money work out for you America?]
That is why jobs must be our number one focus in 2010, and that is why I am calling for a new jobs bill tonight.[What was his #1 focus, jobs or Obamacare?]
You don’t need to hear another list of statistics to know that our economy is in crisis, because you live it every day. It’s the worry you wake up with and the source of sleepless nights. It’s the job you thought you’d retire from but now have lost, the business you built your dreams upon that’s now hanging by a thread, the college acceptance letter your child had to put back in the envelope.
The impact of this recession is real, and it is everywhere. [Hmm, doesn't it sound like Barack is talking about the affects of Obamacare on families and businesses?]
Posted November 30, 2013 by Scared Monkeys
Barack Obama, CNN Opinion Research, Consumer Confidence, Economy, Energy, Epic Fail, Jobs, Labor Force, Misleader, Obamanation, Obamanomics, Oil, Over-Regulation, Politics, Polls, PT/FT Jobs, Recession, Restoring America, The Lying King, Unemployment, War on Coal, Wasteful Spending, We the People, Welfare State | one comment
The choice is yours America, do you want your economic growth to be like a “Red” or “Blue” state?
Let this be a reminder to those in 2012 swing state/battle ground states, Independents and open-minded and concerned Democrats, as reported in USA Toady, Red state’ incomes are growing faster than that of Blue states’. What is most interesting is that when averaged nationally, the robust gains in red states and meager gains in blue states produced a national growth rate remarkably similar to that in the swing states. This is what would be called a trend America. there is a reason why Red states are doing better than the big government, union controlled, high tax blue states. As also stated at The Blaze, “Gee, maybe there’s something to be said about this ‘limited government’ & ‘free market’ stuff, huh?” A note to those in swing states in 2012 … what would you want your state ti be in the next four years, like a red state or blue? The choice is yours in November 2012.
The income of those living in red states has climbed 4.6% since the recession began in December 2007, a USA TODAY analysis of total increases found. The average income of those living in blue states and swing states saw a much slower increase. The personal income of blue states has increased 0.5%, while in the swing states, income increased 1.4%.
Contrary to Obama’s comments, it looks like there is a difference between a Red state America and a Blue state America. Even though a President is supposed to be President of all America, it is obvious what works economically and it ain’t big government, Nanny states.
Income is growing much faster in Republican-leaning “red states” than in Democratic-tilting “blue states” or the pivotal swing states that will decide the 2012 presidential election, a USA TODAY analysis finds.
Personal income in 23 red states has risen 4.6% since the recession began in December 2007, after adjusting for inflation. Income is up just 0.5% in 15 blue states and Washington, D.C., during that time. In the dozen swing states identified by USA TODAY that could vote either way Nov. 6, income has inched ahead 1.4% in 4 ½ years.
Key swing state findings:
•Declines. Four of the 10 slowest growing are swing states: New Hampshire, Michigan, Florida and Nevada. The Silver State’s income plunge is in a class of its own, down 10.8% because of its real estate collapse.
•Gains. Eight of the top 10 states in income growth lean Republican.
What more does it take for Americans to realize what direction America needs to go in 2012? How much data, how many obvious signs and indicators do Independents and open minded Americans who are concerned with the future of the United States need to rescue our country?
Just How Much Trouble is Obama in For Reelection … The Numbers Do Not Lie, Correlation Between Consumer Confidence and Reelection
Take away the rhetoric and forget the negative class warfare campaign of President Barack Obama and look at the numbers. When it comes to reelection, there appears to be a definite correlation between consumer confidence and an incumbent Presidents chance for reelection.
A daisy chain of political disaster seems to be forming for President Obama, says political analyst Dan Clifton at Strategas Research. Clifton suggests that “there seems to be a relationship between consumer confidence and whether a president gets reelected. The current levels of confidence are consistent with Carter and George H. W. Bush when they lost reelection.”
Bad news for Barack Obama, confidence among U.S. consumers declined in July to the lowest level this year as Americans grew more pessimistic about their finances.