U.S. second-quarter GDP growth revised sharply higher to 3.7 percent

[rdean]

U.S. second-quarter GDP growth revised sharply higher to 3.7 percent

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, grew at a 3.1 percent rate, rather than the 2.9 percent pace reported last month. Consumer spending got off a to brisk start in the third quarter, with retail sales rising solidly in July.

A strong labor market, cheaper gasoline and relatively higher house prices are boosting household wealth, helping to support consumer spending.

The employment picture was further brightened on Thursday by a separate report from the Labor Department showing initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 271,000 for the week ended Aug. 22.

It was the 25th straight week that claims remained below the 300,000 threshold, which is usually associated with a strengthening labor market.
------------------------------

I wish Republicans would stop hoping our economy would collapse. That already happened. It was when they were in charge. As long as they continue to do nothing, things will probably get better. It's when they follow GOP economic policies that bad things happen.

 

[DarkFury]

Consumer spending is up BECAUSE prices are up.

 

[Pete7469]

The economy may be chugging along in spite of the moonbat messiah, but with the lowest labor participation rate and the highest level of poverty in 80 years I think we would be doing much better if the socialist clown wasn't there.

Thank God there is a republicrat congress to at least slightly resist some of that idiot's policies.

 

[Toronado3800]

The economy may be chugging along in spite of the moonbat messiah, but with the lowest labor participation rate and the highest level of poverty in 80 years I think we would be doing much better if the socialist clown wasn't there.

Thank God there is a republicrat congress to at least slightly resist some of that idiot's policies.

I dunno man. Sounds like what I heard about Ronald and George the 1 but from a democrap.

The debt sucks but interest rates are low and no one who talks great about Ronald can say anything bad about debt.

The economy seems to stink less I agree and we avoided a real socialist revolution after '07 just like we did afer '29. This time the reforms were less meaningful by far.

WELfare for the WEALthy is my description. Then again while I could have watched every bank go under I would have probably turned chicken and bailed out GM also.

 

[Sonny Clark]

LETS LOOK AT THE U.S. ECONOMIC PICTURE:

(1) Less home ownership, more renters
(2) Employment basically consist of low wage, part-time, and temporary employment
(3) Approximately 47 million receiving food stamps
(4) Millions receiving some form of government assistance
(5) Cities going bankrupt or in bad financial shape
(6) Retail chains have closed many stores, or have gone out of business
(7) Malls in some areas have become ghost buildings
(8) Lost home equity is still a concern for millions
(9) Troubled pension funds
(10) No money to repair and upgrade our rundown infrastructure
(11) The rising cost of food, utilities, health care, and rent
(12) The rising cost of higher education
(13) $19Trillion national debt, and rising
(14) Untold $Billions spent on the care and support of illegal immigrants
(15) Rising poverty and shameful homelessness ( Vets included )
(16) A growing gap between the rich and the poor
(17) A shrinking Middle Class
(18) Our dependency on cheap foreign imports
(19) Innovation, technology, and automation replacing workers
(20) Businesses continue to off-shore out-source jobs and import labor
(21) An inadequate number of living wage jobs to fill the demand of a growing population of workers
(22) College grads working at the same jobs as high school drop-outs, and living with parents
(23) The growing gap between real wages and the cost of living
(24) Astronomical student loan debt
(25) 95% of the wealth is held by the top 1%

So, how well are we doing? A look at the big picture may shock you.

 

[Pete7469]

I dunno man. Sounds like what I heard about Ronald and George the 1 but from a democrap.

The debt sucks but interest rates are low and no one who talks great about Ronald can say anything bad about debt.

The economy seems to stink less I agree and we avoided a real socialist revolution after '07 just like we did afer '29. This time the reforms were less meaningful by far.

WELfare for the WEALthy is my description. Then again while I could have watched every bank go under I would have probably turned chicken and bailed out GM also.

I am a partisan creature. I'll give no credit to the moonbat messiah, unless pressed on it but I truthfully see nothing he has done that improved anything.. As far as what he has been for our fiscal well being I would say he is an unmitigated disaster only held back from tripling the debt by a republicrat house.

Indeed the debt Reagan allowed to be racked up was wrong, and I'll give credit to Clinton for at least compromising with the republicrats and slowing down spending.

I did complain about the debt during Bush, and recall being told something along the lines:

"If the economy is good, and your fiscally strong there isn't a problem for banks to invest in your debt"

It sounded plausible, but it didn't address what would happen if the feds HAD TO raise the interest for whatever whimsical reason they think of. Then before you know it, the entire income of the treasury goes to interest.

I agree that the bailouts were bullshit, but when many of the banks were forced by democrook thugs to throw money at oxygen thieves to buy houses they later destroyed, screwing over the banks, I don't think it was right to let them all fail.

I really don't know what the best way to handle it was, other than not having libtarded policies in the first place.

 

[rdean]

I dunno man. Sounds like what I heard about Ronald and George the 1 but from a democrap.

The debt sucks but interest rates are low and no one who talks great about Ronald can say anything bad about debt.

The economy seems to stink less I agree and we avoided a real socialist revolution after '07 just like we did afer '29. This time the reforms were less meaningful by far.

WELfare for the WEALthy is my description. Then again while I could have watched every bank go under I would have probably turned chicken and bailed out GM also.

I am a partisan creature. I'll give no credit to the moonbat messiah, unless pressed on it but I truthfully see nothing he has done that improved anything.. As far as what he has been for our fiscal well being I would say he is an unmitigated disaster only held back from tripling the debt by a republicrat house.

Indeed the debt Reagan allowed to be racked up was wrong, and I'll give credit to Clinton for at least compromising with the republicrats and slowing down spending.

I did complain about the debt during Bush, and recall being told something along the lines:

"If the economy is good, and your fiscally strong there isn't a problem for banks to invest in your debt"

It sounded plausible, but it didn't address what would happen if the feds HAD TO raise the interest for whatever whimsical reason they think of. Then before you know it, the entire income of the treasury goes to interest.

I agree that the bailouts were bullshit, but when many of the banks were forced by democrook thugs to throw money at oxygen thieves to buy houses they later destroyed, screwing over the banks, I don't think it was right to let them all fail.

I really don't know what the best way to handle it was, other than not having libtarded policies in the first place.

Plausible?

 

[rdean]

LETS LOOK AT THE U.S. ECONOMIC PICTURE:

(1) Less home ownership, more renters
(2) Employment basically consist of low wage, part-time, and temporary employment
(3) Approximately 47 million receiving food stamps
(4) Millions receiving some form of government assistance
(5) Cities going bankrupt or in bad financial shape
(6) Retail chains have closed many stores, or have gone out of business
(7) Malls in some areas have become ghost buildings
(8) Lost home equity is still a concern for millions
(9) Troubled pension funds
(10) No money to repair and upgrade our rundown infrastructure
(11) The rising cost of food, utilities, health care, and rent
(12) The rising cost of higher education
(13) $19Trillion national debt, and rising
(14) Untold $Billions spent on the care and support of illegal immigrants
(15) Rising poverty and shameful homelessness ( Vets included )
(16) A growing gap between the rich and the poor
(17) A shrinking Middle Class
(18) Our dependency on cheap foreign imports
(19) Innovation, technology, and automation replacing workers
(20) Businesses continue to off-shore out-source jobs and import labor
(21) An inadequate number of living wage jobs to fill the demand of a growing population of workers
(22) College grads working at the same jobs as high school drop-outs, and living with parents
(23) The growing gap between real wages and the cost of living
(24) Astronomical student loan debt
(25) 95% of the wealth is held by the top 1%

So, how well are we doing? A look at the big picture may shock you.

But Republicans want to abolish the minimum wage and end benefits. Their goal is to move the wealth of the nation to the top 1%. Seems everything is going to plan. What's the beef.

 

[Sonny Clark]

LETS LOOK AT THE U.S. ECONOMIC PICTURE:

(1) Less home ownership, more renters
(2) Employment basically consist of low wage, part-time, and temporary employment
(3) Approximately 47 million receiving food stamps
(4) Millions receiving some form of government assistance
(5) Cities going bankrupt or in bad financial shape
(6) Retail chains have closed many stores, or have gone out of business
(7) Malls in some areas have become ghost buildings
(8) Lost home equity is still a concern for millions
(9) Troubled pension funds
(10) No money to repair and upgrade our rundown infrastructure
(11) The rising cost of food, utilities, health care, and rent
(12) The rising cost of higher education
(13) $19Trillion national debt, and rising
(14) Untold $Billions spent on the care and support of illegal immigrants
(15) Rising poverty and shameful homelessness ( Vets included )
(16) A growing gap between the rich and the poor
(17) A shrinking Middle Class
(18) Our dependency on cheap foreign imports
(19) Innovation, technology, and automation replacing workers
(20) Businesses continue to off-shore out-source jobs and import labor
(21) An inadequate number of living wage jobs to fill the demand of a growing population of workers
(22) College grads working at the same jobs as high school drop-outs, and living with parents
(23) The growing gap between real wages and the cost of living
(24) Astronomical student loan debt
(25) 95% of the wealth is held by the top 1%

So, how well are we doing? A look at the big picture may shock you.

But Republicans want to abolish the minimum wage and end benefits. Their goal is to move the wealth of the nation to the top 1%. Seems everything is going to plan. What's the beef.

What's the beef?.......... what do you mean?

I simply stated the economic condition of this once great nation. My comment was in reference to the GDP number. The GDP number is NOT an indication of the health and stability of the economy. Gross Domestic Product reflects the production output, nothing more.

 

[Pete7469]

What's the beef?.......... what do you mean?

I simply stated the economic condition of this once great nation. My comment was in reference to the GDP number. The GDP number is NOT an indication of the health and stability of the economy. Gross Domestic Product reflects the production output, nothing more.

The country is productive, in spite of rdean's democrook thugs and he's pissed of you're pointing out the devastation caused by these criminally insane totalitarian sociopths.

 

[Toronado3800]

What macro Washington level policies would you change going forward?

Besides the on that is probably unconstitutional but forces my freeloader neighbors to pay SOMETHING for their healthcare.

 

[EdwardBaiamonte]

It's when they follow GOP economic policies that bad things happen.

100% stupid and liberal of course. GOP is capitalist while libs are socialist. Ever heard of East/West Germany, Hong Kong/China, Cuba /FLA etc etc???

If libs had even one good economic idea why are you so afraid to tell us what it is? What does that teach us about the liberal IQ

 

[EdwardBaiamonte]

. The GDP number is NOT an indication of the health and stability of the economy. Gross Domestic Product reflects the production output, nothing more.

100% stupid of course. Compare GDP of USA versus Botswana and tell us what you learn about importance of GDP.

As a typical liberal do you have the IQ to be here?

 

[rdean]

LETS LOOK AT THE U.S. ECONOMIC PICTURE:

(1) Less home ownership, more renters
(2) Employment basically consist of low wage, part-time, and temporary employment
(3) Approximately 47 million receiving food stamps
(4) Millions receiving some form of government assistance
(5) Cities going bankrupt or in bad financial shape
(6) Retail chains have closed many stores, or have gone out of business
(7) Malls in some areas have become ghost buildings
(8) Lost home equity is still a concern for millions
(9) Troubled pension funds
(10) No money to repair and upgrade our rundown infrastructure
(11) The rising cost of food, utilities, health care, and rent
(12) The rising cost of higher education
(13) $19Trillion national debt, and rising
(14) Untold $Billions spent on the care and support of illegal immigrants
(15) Rising poverty and shameful homelessness ( Vets included )
(16) A growing gap between the rich and the poor
(17) A shrinking Middle Class
(18) Our dependency on cheap foreign imports
(19) Innovation, technology, and automation replacing workers
(20) Businesses continue to off-shore out-source jobs and import labor
(21) An inadequate number of living wage jobs to fill the demand of a growing population of workers
(22) College grads working at the same jobs as high school drop-outs, and living with parents
(23) The growing gap between real wages and the cost of living
(24) Astronomical student loan debt
(25) 95% of the wealth is held by the top 1%

So, how well are we doing? A look at the big picture may shock you.

But Republicans want to abolish the minimum wage and end benefits. Their goal is to move the wealth of the nation to the top 1%. Seems everything is going to plan. What's the beef.

What's the beef?.......... what do you mean?

I simply stated the economic condition of this once great nation. My comment was in reference to the GDP number. The GDP number is NOT an indication of the health and stability of the economy. Gross Domestic Product reflects the production output, nothing more.

Get real. You know what you wrote is a sign of changing times or has political motivation. Untold billions spent on the care and support of illegal immigrants? That is simply not true and you know it. If you are illegal, by law, you can not get health care or food stamps or welfare. Retail chains have closed stores because of the Internet. Sell over the Internet and there are fewer employees and you pay for a warehouse and not stores. 95% of the wealth is held by the top 1% has been part of the GOP's plan for years. From 2001 to 2008, millions of jobs were moved to China and over 40,000 factories were closed in this country and even though Republicans held both houses and the presidency, they did nothing because they get their money from those same businesses. Republicans slash investment in education which of course is passed on to students. Scott Walker just cut 300 million in his state that went to colleges. Is it any wonder job growth there is so poor?

So many of these "problems" are created based on ulterior motives.

 

[EdwardBaiamonte]

. If you are illegal, by law, you can not get health care or food stamps or welfare. .

Children in unlawful immigrant households receive heavily subsidized public education. Many unlawful immigrants have U.S.-born children; these children are currently eligible for the full range of government welfare and medical benefits. And, of course, when unlawful immigrants live in a community, they use roads, parks, sewers, police, and fire protection; these services must expand to cover the added population or there will be “congestion” effects that lead to a decline in service quality.

In 2010, the average unlawful immigrant household received around $24,721 in government benefits and services while paying some $10,334 in taxes. This generated an average annual fiscal deficit (benefits received minus taxes paid) of around $14,387 per household. This cost had to be borne by U.S. taxpayers. Amnesty would provide unlawful households with access to over 80 means-tested welfare programs, Obamacare, Social Security, and Medicare. The fiscal deficit for each household would soar.