Economy Shrinks…Obama & Pals Blame Republicans

Discussion in 'Politics' started by Wehrwolfen, Feb 1, 2013.

  1. Wehrwolfen
    Offline

    Wehrwolfen Senior Member

    Joined:
    May 22, 2012
    Messages:
    2,752
    Thanks Received:
    338
    Trophy Points:
    48
    Ratings:
    +338
    Economy Shrinks…Obama & Pals Blame Republicans ​


    By: Curt

    [​IMG]

    Another ‘who woulda thunk it’ moment:

    The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.

    The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.

    Get outta here! You mean with businesses fretting over the unknown cost of ObamaCare, with taxes being raised for almost every American, and government spending continuing to spiral out of control that our economy is contracting?

    Shocking!

    [ame=http://www.youtube.com/watch?feature=player_embedded&v=1WsoTc1myvI]Krauthammer Obama Blaming Republicans - YouTube[/ame]​

    [Excerpt]

    Read more:
    Economy Shrinks?Obama & Pals Blame Republicans | Flopping Aces
     
    • Thank You! Thank You! x 1
  2. auditor0007
    Offline

    auditor0007 Gold Member

    Joined:
    Oct 19, 2008
    Messages:
    10,716
    Thanks Received:
    1,841
    Trophy Points:
    190
    Location:
    Toledo, OH
    Ratings:
    +1,997
    The economy shrunk due to Hurricane Sandy. Would you like to make a bet that we see positive growth again in the first quarter?
     
  3. Charles_Main
    Offline

    Charles_Main AR15 Owner

    Joined:
    Jun 23, 2008
    Messages:
    16,692
    Thanks Received:
    2,235
    Trophy Points:
    88
    Location:
    Michigan, USA
    Ratings:
    +2,247
    This is why I maintain, and will continue to, that Obama is a failure as a leader. The man is an amazing Politician but as a leader he is one of the worst I have ever seen. The first step to being a leader is taking responsibility. Obama never will.
     
  4. Charles_Main
    Offline

    Charles_Main AR15 Owner

    Joined:
    Jun 23, 2008
    Messages:
    16,692
    Thanks Received:
    2,235
    Trophy Points:
    88
    Location:
    Michigan, USA
    Ratings:
    +2,247
    OMG man you people are so fucking blind? Blaming a storm now? Really?
     
  5. The Breeze
    Offline

    The Breeze VIP Member

    Joined:
    Jun 10, 2010
    Messages:
    238
    Thanks Received:
    46
    Trophy Points:
    66
    Ratings:
    +53
    Gotta blame somebody.
     
  6. Claudette
    Offline

    Claudette Gold Member

    Joined:
    Nov 3, 2009
    Messages:
    13,212
    Thanks Received:
    1,878
    Trophy Points:
    245
    Ratings:
    +2,201
    Yup. The blame will be leveled at anything and anyone other than that fuck in the WH and his pack of incompetant boobs.

    Its all still Bush's fault doncha know?
     
  7. DiamondDave
    Offline

    DiamondDave Army Vet

    Joined:
    Jun 30, 2008
    Messages:
    18,169
    Thanks Received:
    2,812
    Trophy Points:
    88
    Location:
    MD, on the Potomac River
    Ratings:
    +2,815
    Why not?? They blame ATM's.. They blame a phony reduction in government spending (craftily leaving out that the slight reduction over the previous quarter was a result of the HUGE SPIKE of that previous quarter... with spending still being higher than ever before).. Why not now blame a storm?? It is right in their wheelhouse for excuses
     
  8. BlindBoo
    Offline

    BlindBoo Gold Member

    Joined:
    Sep 28, 2010
    Messages:
    13,368
    Thanks Received:
    1,331
    Trophy Points:
    175
    Ratings:
    +1,531
    The private sector continued growing. Military spending , or rather lack thereof is the reason for the overal contraction. Would the military spending have been reduced if the sequester was not on the table?

    Fiscal Cliff Woes Caused GDP Contraction: Heidi Moore | Daily Ticker - Yahoo! Finance

    The Pentagon decreased its expenditures by over 22% in the quarter ending in December. Had military spending remained the same, Q4 GDP would have increased by 1.27%. The decrease in defense spending was largely in preparation of the $500 billion cut to military disbursement that the fiscal cliff proposed.

    “There was no other kind of pressure on defense spending that would have cause it to plummet 22% except for the expectation of the cuts,” says Moore.

    Business pull back in response to fiscal cliff uncertainties was the second main cause of economic decline. According to the Bureau of Economic Analysis, “The downturn in real GDP in the fourth quarter primarily reflected downturns in private inventory investment.” Had private inventory investment remained at quarter three levels, GDP would have grown by 1.17% last quarter.

    Moore contends that inventories were not low because of high consumption but rather because businesses purposely pulled back in inventory accumulation as a response to fiscal cliff threats.
     
  9. Wehrwolfen
    Offline

    Wehrwolfen Senior Member

    Joined:
    May 22, 2012
    Messages:
    2,752
    Thanks Received:
    338
    Trophy Points:
    48
    Ratings:
    +338
    Why is it that when you're peeing down someone's leg you keep claiming its raining?
     
  10. DiamondDave
    Offline

    DiamondDave Army Vet

    Joined:
    Jun 30, 2008
    Messages:
    18,169
    Thanks Received:
    2,812
    Trophy Points:
    88
    Location:
    MD, on the Potomac River
    Ratings:
    +2,815
    Did you forget the mention that the reduction was over the HUGE SPIKE IN INCREASED SPENDING DURING Q3??

    You guys just LOVE to leave that little tidbit out

    So you can take your little blog and shove it
     

Share This Page