GDP Grew 0.2% For Q1 2015 >>> GDP Shrank 0.7% For Q1 2015.
The GDP was originally said to have grown at a meager 0.2% for the first quarter of 2015 back in April. That was bad enough, however, it gets worse. The GDP was revised down to -0.7%. That means that the economy actually shrank by 0.7%. There was no growth. Way to go Barack Obama with your lousy economic plan that has done nothing but make money for the Wall Street ultra-rich. The GDP in Q4 2014 was 2.6%. It would appear we are headed in the wrong direction. The report was the government’s second estimate of first-quarter GDP. It will publish a final estimate in June. Wow, it may actually get revised to an even worse number.
A tax cut or reduction of regulation is certainly not on the table for this socialist president. Of course Obama and his minions will point to the unemployment number of 5.4% for the uninformed in America. The reality is that unemployment is in double digits.
The U.S. economy went into reverse in the first three months of this year as a severe winter and a widening trade deficit took a harsher toll than initially thought.
The overall economy as measured by the gross domestic product contracted at an annual rate of 0.7 percent in the January-March period, the Commerce Department reported Friday.
The revised figure, weaker than the government’s initial estimate of a meager 0.2 percent growth rate, reflects a bigger trade gap and slower consumer spending. It marked the first decline since a 2.1 percent contraction in the first three months of 2014, a slump that was also blamed on winter weather.
US Only Adds 126,000 Jobs in March 2015 … 245K Expected; Unemployment Rate Remains at 5.5% … Record Level of Americans Not in Labor Force
THE OTHER BARACK OBAMA LIE … THERE IS AN ECONOMIC RECOVERY IN THE US.
Economic recovery, what economic recovery? As reported at CNBC, economists expected nonfarm payrolls to rise 245,000 in March 2015 and the unemployment rate was to remain the same; however, the numbers came in much, much, much lower. In fact, only 126,000 jobs were created in March, the smallest gain since December 2013. OK, so how did only half the number of jobs come in as predicted and the unemployment rate did not go up, Hmm?
Do you really want to know who such fuzzy math can take place and a lying Obama and his minions can claim that 5.5% is a good thing when it is not? How about a record 93,175,000 Americans are not in the Labor Force!!!
The sputtering U.S. economy created just 126,000 jobs in March as bad weather, weak consumer spending and flailing corporate profits resulted in the worst report since December 2013.
Economists expected nonfarm payrolls to rise 245,000 in March, with the unemployment rate holding steady at 5.5 percent, according to Reuters. February’s numbers were revised lower to 264,000 from the initially reported 295,000, while January’s number fell from 239,000 to 201,000.
The total fell well short of the 269,000 average over the past year and was the first time in 14 months that the number dropped below 200,000.
However, the overall unemployment rate held steady at 5.5 percent, as a generational low in labor force participation helps keep the figure low. A separate gauge that includes those who have stopped looking for work as well those employed part-time for economic reasons—the underemployed—edged lower from 11 percent to 10.9 percent.
More Americans dropped out of the labor force last month, as the number of people not in the labor force hit another record high in March.
According to Friday’s Bureau of Labor Statics jobs data 93,175,000 Americans were not in the work force in March, an addition of 277,000 to February’s level of 92,898,000.
The BLS defines people not in the labor force as people ages 16 and older who are neither employed nor have they “made specific efforts to find employment sometime during the 4-week period ending with the reference week.”
The work force decline also corresponded with a drop in the labor force participation rate, wherein March’s rate of 62.7 percent matched earlier lows seen September and December 2014 but not seen before since in 1978. February’s participation rate was 62.8 percent.
Gallup CEO Jim Clifton … The Official Obama 5.6% Unemployment Rate Amounts to a Big Lie … Tells CNBC He Might “Suddenly Disappear” for Telling the Truth About Unemployment Lie
Well, if Gallup CEO suddenly disappears we will know why …
Gallup CEO Jim Clifton says during an interview with CNBC that he is worried he might “suddenly disappear” and not make it home that evening if he disputed the accuracy of what the U.S. government is reporting as unemployed Americans. How sad is it that many would not put it past the Obama administration to actually retaliate against an American citizen for speaking the truth?
The CNBC interview came one day after Clifton had penned a gutsy opinion piece on Gallup’s web site, defiantly calling the government’s 5.6 percent unemployment figure “The Big Lie” in the article’s headline. His appearance on CNBC was apparently to walk back the “lie” part of the title and reframe the jobs data as just hopelessly deceptive.
Clifton stated the following on CNBC:
“I think that the number that comes out of BLS [Bureau of Labor Statistics] and the Department of Labor is very, very accurate. I need to make that very, very clear so that I don’t suddenly disappear. I need to make it home tonight.”
But after making that opening comment in case he suddenly goes missing, Jim Clifton went on to eviscerate the legitimacy of the cheerful spin given to the unemployment data by the Obama White House and liberal MSMS, stating to CNBC viewers that the percent of full time jobs in this country as a percent of the adult population “is the worst it’s been in 30 years.” Otherwise known as Obama’s Big Lie. Then again, hasn’t the entire Barack Obama presidency been one big lie and scandal after another?
Gallup CEO: 13 Million Jobs Lost – Only 3 Million Created Under Obama
Jim Clifton, Gallup CEO – The Big Lie: 5.6% Unemployment:
Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheer-leading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.
None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job — if you are so hopelessly out of work that you’ve stopped looking over the past four weeks — the Department of Labor doesn’t count you as unemployed. That’s right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news — currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren’t throwing parties to toast “falling” unemployment.
There’s another reason why the official rate is misleading. Say you’re an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 — maybe someone pays you to mow their lawn — you’re not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.
Yet another figure of importance that doesn’t get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find — in other words, you are severely underemployed — the government doesn’t count you in the 5.6%. Few Americans know this.
There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.
Sen. Chuck Schumer (D-NY) Says Dems Screwed Up Passing Obamacare … “Democrats Blew the Opportunity the American People Gave Them” in 2008 and “Put All of Our Focus on the Wrong Problem”
ISN’T THIS INTERESTING, DEMOCRAT CHUCKY SCHUMER SAYS THAT DEMOCRATS SCREWED UP PASSING OBAMACARE …
Speaking Tuesday at the National Press Club in Washington, DC, New York Democrat Sen. Charles Schumer had an epiphany and stated that “Democrats blew the opportunity the American people gave them” after the 2008 election. Schumer went on to say that, “We took their mandate and put all of our focus on the wrong problem, health care reform.” Gee, ya think? Sen. Schumer was one of the 60 Democrat senators who passed Obamacare, with not one GOP vote, and forced the unpopular law down the throats of Americans. Now suddenly because as we predicted back then, it would be their undoing, Schumer has misgivings that Democrats focused on it first and did not focus on what Americans were dealing with on a day to day basis, a poor economy and unemployment. Schumer told those in attendance “that considering 85% of all Americans got their health care from either the government, Medicare, Medicaid, or their employer … we would still only be talking about only 5% of the electorate.” Wasn’t that the same argument that those opposed to Obamacare were making in 2009? Why blow up the healthcare system in the United States for only 5% of the people? This is a kin to demolishing a house because the back porch needs repair. Not only did Democrats not listen to the people, the law they forced upon them was nothing more than a lie.
Democrats made a strategic mistake by passing the Affordable Care Act, Sen. Charles Schumer (N.Y.), the third-ranking member of the Senate Democratic leadership, said Tuesday.
Schumer says Democrats “blew the opportunity the American people gave them” in the 2008 elections, a Democratic landslide, by focusing on healthcare reform instead of legislation to boost the middle class.
But why is Sen. Schumer talking about the Democrats disastrous decision to pass Obamacare now, is it because they have buyer’s remorse and care about the American people? Not at all, it is because they have taken a political shellacking in 2010 and 2014 and now find themselves in the minority in the House and the Senate. It all has to do with power, not the people. Honestly, who in their right mind thought that an unpopular bill that adversely affected so many people to only benefit a few would not have ramifications? If Democrats could not see that, then they deserve what they got.
SEN. CHUCK SCHUMER (D-NY): After passing the stimulus, Democrats should have continued to propose middle-class oriented programs and built on the partial success of the stimulus. But unfortunately, Democrats blew the opportunity the American people gave them. We took their mandate and put all of our focus on the wrong problem — health care reform. Now the plight of uninsured Americans and the hardships caused by unfair insurance company practices certainly needed to be addressed, but it was not the change we were hired to make. Americans were crying out for the end to the recession, for better wages and more jobs, not changes in health care.
This makes sense, considering 85% of all Americans got their health care from either the government, Medicare, Medicaid, or their employer. And if health care costs were going up, it really did not affect them. The Affordable Care Act was aimed at the 36 million Americans who were not covered. It has been reported that only a third of the uninsured are even registered to vote. In 2010 only about 40% of those registered voting. So even if the uninsured kept with the rate, which they likely did not, we would still only be talking about only 5% of the electorate.
To aim a huge change in mandate at such a small percentage of the electorate made no political sense. So when Democrats focused on health care, the average middle-class person thought the Democrats are not paying enough attention to me. Again, our health care system was riddled with unfairness and inefficiency. It was a problem desperately in need of fixing. The changes that were made are and will continue to be positive changes, but we would have been better able to address it if Democrats had first proposed and passed bold programs aimed at a broader swath of the middle class.
Had we started more broadly, the middle class would have been more receptive to the idea that President Obama wanted to help them. The initial faith they placed in him would have been rewarded. They would have held a more pro-government view and would have given him the permission structure to build a more pro-government coalition. Then Democrats would have been in a better position to tackle our nation’s healthcare crisis.
Healthcare, it wasn’t at the top of the agenda for middle class people …
“We should have done it, we just should not have done it first”. People were hurting and said, what about me, I am losing my job. It’s not health care that is bothering me.”
EXIT QUESTION: So why is Sen. Charles Schumer making these comments about Obamacare? Maybe because Schumer does not want to be the next on the list of 29 Democrat Senators who are no longer in the US Senate who voted for Obamacare.
Hillary Clinton: “Don’t Let Anybody Tell You It’s Corporations and Businesses That Create Jobs” as She Stumps for Martha Coakley for Mass Governor
SO AMERICA, THIS IS WHAT YOU WANT TO BE THE NEXT PRESIDENT, ANOTHER FAR LEFT SOCIALIST?
(Bumped for importance)
At an event Friday in Boston, Mass stumping for Democrat gubernatorial candidate Martha Coakley, Hillary Clinton told the crowd gathered at the Park Plaza Hotel rally … “Don’t let anybody tell you it’s corporations and businesses create jobs.” Okay Hillary, then who does create jobs, the government? Seriously Hillary, since you brought the subject up, who does create jobs if it is not corporations and businesses? Wake up America, Hillary Clinton is a socialist just like Barack Obama. Can the United States survive another liberal, socialist, Democrat president who despises business?
“Don’t let anybody tell you it’s corporations and businesses create jobs,” Clinton said.
“You know that old theory, ‘trickle-down economics,’” she continued. “That has been tried, that has failed. It has failed rather spectacularly.”
The real story might be is that Hillary Clinton needed to come to the blue, blue state of Massachusetts in the first place. Currently according to RCP, Democrat and uber-lib Martha Coakley trails in the polls to Republican candidate Charlie Baker by 4.5%. However, a very recent Boston Globe poll has Baker up by 9 points over Coakley.
UPDATE I: Hey Hillary … You might want to listen to Ronald Reagan talk about business and jobs, maybe you will learn something.
Well, wouldn’t it be nice to hear a little more about the forgotten heroes of America — those who create most of our new jobs, like the owners of stores down the street; the faithfuls who support our churches, synagogues, schools, and communities; the brave men and women everywhere who produce our goods, feed a hungry world, and keep our families warm while they invest in the future to build a better America? That’s where miracles are made, not in Washington, D.C.