Adjustment of GDP … US Economy Shrunk By Most in Five Years in First Quarter, Commerce Dept Says – 2.9%
RECOVERY, WHAT OBAMA ECONOMIC RECOVERY?
Obamanomics at its finest … The Obama economy is worse than first reported. The GDP for QTR 1 for 2014 was not -1.0%, it was -2.9%!!! This marks the biggest decline since early 2009 when the Great Recession was winding down.
The U.S. economy contracted at a worse pace than previously estimated in the first quarter, marking its sharpest pullback since the recession ended five years ago.
Gross domestic product, the broadest measure of goods and services produced across the economy, contracted at a seasonally adjusted annual rate of 2.9% in the first three months of the year, according to the Commerce Department’s third reading released Wednesday. That was the fastest rate of decline since the first quarter of 2009, when output fell 5.9%.
Commerce had previously estimated output fell by 1% in the first quarter as manufacturers drew down inventories rather than produce new goods and as unusually harsh weather kept consumers at home and shut down work sites. Exports also declined after a surge late last year.
The media lap dogs sat “don’t freak out” with regards to the terrible GDP for Q1 2014. Hmm, would they be saying the same for GWB? Here are the excuses for the reason why you should not fret about the -2.9 GDP, it’s the weather’s fault, it’s not a final number:and other data show the economy is improving. Really, it’s not the final numbers? They just revised it down from -1% to -2.9%, do you mean it could get revised even lower?
More from Newsbusters and the liberal media spin.
Guess what, Barack Obama was not “The One” that we had been waiting for …
In a recent CNN poll, Barack Obama is now as unpopular as former president George W. Bush. Both Obama and Bush now have a 51% unfavorable rating. Obama’s approval rating has dropped to 47%. However, that most likely is not the low that this president will see before he leaves office, and none too soon. With scandals abound like IRS-gate, Fast & Furious, Benghazi-gate and most recently the VA scandal and the release of 5 Taliban, GITMO detainees for an alleged deserter. Not to mention a continued poor economy, a jobless recovery, a disastrous foreign policy and last but certainly not least, Obamacare. As commented on by Hot Air, a Fox News poll out this week shows continued sharp disapproval of President Obama’s signature domestic “accomplishment,” with a sizable majority expressing the opinion that they wish the 2010 healthcare law had never passed.
Who is laughing now Barack?
In January 2009, as President George W. Bush was days away from leaving the White House, the unpopular President’s favorable rating stood at 35% in a CNN/ORC International survey. The man who was succeeding him, Barack Obama, was fresh from his historic 2008 presidential election victory and had a 78% favorable rating among Americans.
But a new CNN/ORC International poll released Thursday indicates a milestone of sorts: Obama is now as unpopular as Bush. Fifty-one percent have an unfavorable view of Bush; 51% feel the same way about Obama. Obama’s favorable rating is now at 47% – a new low for him, and virtually identical to Bush’s 46% favorable rating, a significant improvement over his 2009 numbers.
Obama started out strong, but as many predicted, the public’s love affair with Obama faded as reality set in. Obama dealt with the severe recession plaguing the nation and pushed for controversial proposals such as the federal stimulus and health care reform. By 2010, the President’s favorable rating had dropped by double digits, although his numbers generally remained in the mid-50s throughout the 2012 presidential campaign.
EXIT QUESTION: Will Barack Obama’s favorable and unfavorable ratings be worse than GWB’s by the end of his presidency … Magic 8-Ball says, “Signs point to Yes”.
Texas Senator Ted Cruz Wins 2016 Presidential Straw Poll at a Republican Leadership Conference in New Orleans, Louisiana
If Ted Cruz is Constitutionally allowed to run for President … He will be a real threat to Democrats and establishment Republicans …
Texas Senator Ted Cruz won the 2016 Presidential straw poll at a Republican Leadership Conference in New Orleans, Louisiana. Cruz finished first with 30.33%, Dr. Ben Carson second with 29.38% and Kentucky Senator Rand Paul finished third with 10.43%. They were followed by former Arkansas Governor Mike Huckabee and Texas Governor Rick Perry rounded out the top five, at 5.06% and 4.90%, respectively. Moderate RINO’s Florida’s former Governor Jeb Bush came in 7th with 4.42% and New Jersey Governor Chris Christie came in dead last with 1.11%. During his speech Cruz said that Republicans would take back the Senate, they will retire Sen. Mary Landrieu (D-LA) and remove Harry Reid as Majority Leader.
Cruz finished in first place in the annual conference’s presidential straw poll at 30.33%. Dr. Ben Carson, a Fox News commentator and conservative activist, finished in second with 29.38% while Sen. Rand Paul, R-Kentucky, was third with 10.43%.
Fox News host and former Arkansas Gov. Mike Huckabee and Texas Governor Rick Perry rounded out the top five, at 5.06% and 4.90%, respectively.
Neither Carson nor Paul spoke at the conference, but their support was a show of confidence by the traditionally more conservative crowd. The annual meeting of activists features of who’s who of big-name Republican politicians. It is an important appearance for potential presidential candidates to make.
More moderate Republicans also skipped the conference, but many fared much worse in the straw poll. New Jersey Gov. Chris Christie came in dead last with 1.11% while Florida’s former Gov. Jeb Bush and current Sen. Marco Rubio and came in seventh and eighth at 4.42% and 3.32 %, respectively.
Nobody Cares what any politicians in Washington says. Power in politics, sovereignty in America is with We the People!
MUST WATCH VIDEO
Ted Cruz, an ardent defender of The Bill of Rights and the Second Amendment said during his speech, “In Texas, we define gun control real simple. That’s hittin’ what you aim at.” Cruz Also went on to say, “that following the tragic shooting in Newtown, CT the president didn’t do what she should have done. What he should have done is he should have stood up and said we are going to go after violent criminals and we are going to come down on violent criminals like a ton of bricks. instead he used it as an excuse to come after the rights of law abiding citizens.”
Cruz consistently pointed out that Democrats and establishment gray-beard Republicans both says that things can’t get done. Yet time after time in examples of drone strikes against Americans, Second Amendment gun control, foreign affairs and provisions in the International monetary fund. All won by conservatives.
Too often the establishment GOP says it can’t be done because they are afraid to take a position. In order for there to be change, not only must Democrats go, so must the establishment Republicans who have long forgot what they were sent to Washington, DC to do.
THE CONSERVATIVE BATTLE AGAINST OBAMACARE: HOW DO YOU WIN ELECTIONS … YOU DON’T WIN IT BY STANDING FOR NOTHING …
Cruz went on to blast the establishment same old-same old way of doing things within the GOP of trying to win elections. There is a cluster of political consultants who keep running losing campaigns, making the same mistakes and keep coming back to donors to make the same failed mistakes that did not win the previous times. He stressed that the way you win elections is you stand for principle and you empower the people.
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.
Comedian Rob Schneider Very Critical of Media & Obama’s Handling of the Economy …”We Are Sliding Very Fast Towards Fascism”
Rob Schneider critical of the Obamameister …
Former SNL cast member, comedian and actor Rob Schneider held nothing back when voicing his opinions on discussing the path he sees the country on during an interview with Chris Stigall on Talk Radio 1210 WPHT. Schneider was extremely critical of Obama’s handling of the economy and of the MSM for being overly influenced by government and in failing to stand up for ‘We the People”. Many of us wish that Barack Obama was in a job where he was “making copies”.
“Democracies don’t end well. We are sliding very fast towards fascism. It’s an ugly kind of thing. There’s this kind of mob mentality that we have to be careful of,” he said.
He believes comedians are pressured toward one side of the political spectrum.
“There’s a polarization that’s happening…I do think you look can look at government and go, ‘Wow, it is out of control now,’ and if you do criticize or tend to be not directly along a liberal stand, you can get murdered,” Schneider commented.
Schneider was very critical of the President’s handling of the economy and he feels certain policies are impacting businesses.
He was also critical of the media for being overly influenced by the government and not standing up for the American people.