Economy grows for the third straight quarter

[Samson]

Now, you know very well you are dodging the point of the post.

For Bush, 3.3% growth is descirbed as 'feeling like a recession'

but for Obama, 3.2% is 'halleluyah!'

Care to comment on the mala fide?

because one was leading into a depression and the other is leading out of a recession.

Does that cover it for you?

Interesting to see Tm kicking some ass for a change.

Are you on your meds?

 

[rightwinger]

winger.. do we have to go back in history and show the results of a false boom based on credit and speculation again?

Listen up America!

As we enter the 2010 midterm election season, you are advised to ignore all of the positive economic metrics that have been coming out for the last year. It is all part of a "false boom" that was created by Obama.
Only by following the Republican strategy of cutting more taxes for the wealthy and allowing real economic prosperity to "Trickle Down" can we be saved.

"This has been a public service announcement"

 

[edthecynic]

Sometimes I find you lefties get pulled around by the nose, and love it!

What do you think the headline would be if this was the Bush Administration?

Would the MSM say "it feels like a recession"?


We don't have to guess, 'cause that is exactly what they said:

GDP grows a surprisingly healthy 3.3%, but all's not well
Updated 8/28/2008 11:34 PM | Comments 368 | Recommend 36
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•
By Sue Kirchhoff, USA TODAY
WASHINGTON — The economy performed far better than expected last spring, buoyed by robust exports and increased government spending. That doesn't mean the country is out of the woods, however, or that consumers are wrong to feel beleaguered, economists said Thursday.
"To most people it feels like a recession," says Wachovia economist Mark Vitner, adding many Americans don't feel a direct impact from factors like exports and business spending that he says could keep the economy advancing at a slow, but positive pace.
GDP grows a surprisingly healthy 3.3%, but all's not well - USATODAY.com

Would you rather have the GDP grow for three consecutive quarters or shrink for three consecutive quarters??

We have seen both happen in the last two years

Now, you know very well you are dodging the point of the post.

For Bush, 3.3% growth is descirbed as 'feeling like a recession'

but for Obama, 3.2% is 'halleluyah!'

Care to comment on the mala fide?

That's because Bush's 3.3% was a cooked election year number and was not the 3rd month in a row of growth!!!

The chart on the left in your link shows the actual number was 1.5%, less than half of Bush's cooked GDP.

 

[PatekPhilippe]

I hope the economy does work itself out and start more on the road to recovery... I do know, however, that the big government policies, higher taxation, government expansion and increased spending, etc are not helping the economy and are most probably hindering what could be an even more robust recovery

Higher taxes? What higher taxes? Taxes are lower now than they were last year.

Oh really? Then you jackass party members can NO LONGER COMPLAIN that the deficit and national debt continuing to increase exponentially is Bush's fault.

What kind of jackass Democrat president lowers taxes in a time of war??? How ******* stupid is that!!!!???

 

[DavidS]

Growth was below forecast, and the increase was driven by consumer spending (read that - early Easter compared to 2009).

Where are the jobs?

Were you asking that in October 1982 when unemployment peaked at 10.8% under Reagan after being in office one year and nine months?

Under Obama, a bigger recession than the one in the 1980s, not only did unemployment not grow to the levels it was at in the 1980s, but we also peaked earlier and we're on the downswing.

I guess this means if you're unhappy with the pace of jobs grwoth in the US right now, you were also unhappy with Reagan's first term performance?

The United States Unemployment Rate

 

[DavidS]

I hope the economy does work itself out and start more on the road to recovery... I do know, however, that the big government policies, higher taxation, government expansion and increased spending, etc are not helping the economy and are most probably hindering what could be an even more robust recovery

Higher taxes? What higher taxes? Taxes are lower now than they were last year.

Oh really? Then you jackass party members can NO LONGER COMPLAIN that the deficit and national debt continuing to increase exponentially is Bush's fault.

What kind of jackass Democrat president lowers taxes in a time of war??? How ******* stupid is that!!!!???

Wait, are you complaining about lower taxes? That's a change.

And officially, America is not in a time of war.

 

[DiamondDave]

I hope the economy does work itself out and start more on the road to recovery... I do know, however, that the big government policies, higher taxation, government expansion and increased spending, etc are not helping the economy and are most probably hindering what could be an even more robust recovery

Higher taxes? What higher taxes? Taxes are lower now than they were last year. And how are government policies, government expansion and increased spending hindering this economic recovery that's going on right now? Please explain in detail without giving me some nonsense right-wing bullshit website. I want YOUR ideas -- not some right-wing think tank's.

The tax tables have not changed (my taxes in 2009 with a ~5K income increase took about 1/2 of that increased income.. and that was with an increase in charitable donation).. and as I said, unless record deficits are to be kept on the books, taxes will indeed have to increase as shown in Congress's and Obama's proposals.... Obama has cut no taxes with increases looming on the horizon

Increased government and government spending is a shell game of moving money around, with waste, red tape, etc that does nothing but hurt the economy more than if the money were being spent by consumers and companies in the actual marketplace

I do not quote rightwing think tanks.. never have..

My ideas.. SLASH the federal government expenditures... reduce the size of government with the elimination of entitlements and useless agencies and departments (like I had shown before with the listing of useless agencies only starting with the letter A).... start taxing the ~50% of persons who have income who are not paying any federal income tax.... go thru the constitutional amendment process and finally get a balanced budget amendment... stop government payment to contractors who do not deliver as contractually agreed upon... eliminate foreign aid until such time that we are in the black... the list goes on

 

[DiamondDave]

winger.. do we have to go back in history and show the results of a false boom based on credit and speculation again?

Listen up America!

As we enter the 2010 midterm election season, you are advised to ignore all of the positive economic metrics that have been coming out for the last year. It is all part of a "false boom" that was created by Obama.
Only by following the Republican strategy of cutting more taxes for the wealthy and allowing real economic prosperity to "Trickle Down" can we be saved.

"This has been a public service announcement"

You see me calling for a tax cut for the wealthy?? And you've been debunked before on your accusation that the Bush cuts were only for the wealthy... In fact, you see me calling for equalized taxation... hell, put everyone at the 250K taxation rate... but don't increase spending (a.k.a. pulling a major Obama) with that increase in taxation

Maybe you also need to re-educate yourself on what a false boom can do.. please refer to the 90's pseudo-boom

 

[Truthmatters]

Growth was below forecast, and the increase was driven by consumer spending (read that - early Easter compared to 2009).

Where are the jobs?

Were you asking that in October 1982 when unemployment peaked at 10.8% under Reagan after being in office one year and nine months?

Under Obama, a bigger recession than the one in the 1980s, not only did unemployment not grow to the levels it was at in the 1980s, but we also peaked earlier and we're on the downswing.

I guess this means if you're unhappy with the pace of jobs grwoth in the US right now, you were also unhappy with Reagan's first term performance?

The United States Unemployment Rate

Now you are being unfair here , EVERYONE know that Reagan was above real math. Reaganites are magically imbued with the power to reinvent any real numbers to prove Ronny was above all and saintly.

 

[DiamondDave]

Growth was below forecast, and the increase was driven by consumer spending (read that - early Easter compared to 2009).

Where are the jobs?

Were you asking that in October 1982 when unemployment peaked at 10.8% under Reagan after being in office one year and nine months?

Under Obama, a bigger recession than the one in the 1980s, not only did unemployment not grow to the levels it was at in the 1980s, but we also peaked earlier and we're on the downswing.

I guess this means if you're unhappy with the pace of jobs grwoth in the US right now, you were also unhappy with Reagan's first term performance?

The United States Unemployment Rate

Now you are being unfair here , EVERYONE know that Reagan was above real math. Reaganites are magically imbued with the power to reinvent any real numbers to prove Ronny was above all and saintly.

No.. just you and your ilk's selective math (much like your support for selective equality).. want us to bring back all the other economic numbers (including inflation, interest rates, etc) back to show you AGAIN the more complete economic picture of the horrible state Carter left this country in?? Reagan sure as hell was not perfect, but started attacking the problems.. not adding to them as Obama and the congressional DEMs are doing currently

 

[boedicca]

It's THE JOBS, Stupid.

And they will come stupid

Job growth would have been much better by now if Obama hadn't tripled the deficit and dramatically increase federal debt, you brain damaged waste of protoplasm.

 

[boedicca]

Now you are being unfair here , EVERYONE know that Reagan was above real math. Reaganites are magically imbued with the power to reinvent any real numbers to prove Ronny was above all and saintly.

Did you benefit from the Reagan tax cuts in the 1980s?

 

[boedicca]

Well, maybe you are an expert on COMMERSE, whatever that is.

.But money does have a different impact depending upon who earns it, invests it, and spends it

The Stimulus package has largely been used to prop up state and local government jobs and for transfer payments. That doesn't create private sector jobs.

So money from one person invested in a stock will react differently from another person investing in the same stock?


You are bat shit crazy

Ouch.

Boe pawned by Truthmutters?

Tell me it ain't so!

Hardly. I reject her assumption that economic activity with high levels of spending and taxation (cf. the government's scope of gdp) is the same as that which occurs with a smaller government.

The stimulus going to state and local governments does not have the same impact as that money being used by private businesses to invest and expand.

 

[PatekPhilippe]

Higher taxes? What higher taxes? Taxes are lower now than they were last year.

Oh really? Then you jackass party members can NO LONGER COMPLAIN that the deficit and national debt continuing to increase exponentially is Bush's fault.

What kind of jackass Democrat president lowers taxes in a time of war??? How ******* stupid is that!!!!???

Wait, are you complaining about lower taxes? That's a change.

And officially, America is not in a time of war.

Oh that's right...the Party of jackasses thinks Al Qaeda doesn't exist. I guess your President acknowledging "We are at war." means nothing. Perhaps terminally stupid asses such as yourself should re-evaluate your statements before you make a jackass out of yourself in front of millions.

 

[caddis]

Then you are a partisan idiot.

Commerse does not spend money differently because of it was once in government hands.

Money is money and a corporation does not care about the hand it USE TO be in.

You are wrong. If the government confiscates billions and billions then that means business has billions and billions LESS to reinvest, rehire, retool,... your wonderful economy will take longer to recover.

 

[Vast LWC]

Wow.

The spin in this thread is friggin' ridiculous.

3 Quarters of economic growth is good news in anyone's book. 3.2% is a fair amount of growth to celebrate.

You all are the same people that were crowing that last quarter's 5% growth was all due to temporary programs that were due to expire...

...Well, those programs have expired, and the 3.2% growth is what we have left afterwards. And that's still pretty damn respectable.

Coupled with the good news in unemployment over the last few weeks, we can now officially declare the recession OVER, and state positively that the economy is on the upswing again. Thank God.

So, please, enough with the spin. It's time for you all to admit that the recovery is in full swing and stop bitching and complaining that it's not growing fast enough for your tastes. At least it IS growing.

Of course, according to Rush Limfat and the ditto-heads, the economy was supposed to sink into a full-blown depression because Obama and the Democrats were in charge. Just another bad prediction by Rush that never came true. Wonder how he'll try to revise history this time?

 

[Immanuel]

Coupled with the good news in unemployment over the last few weeks, we can now officially declare the recession OVER, and state positively that the economy is on the upswing again. Thank God.

Help me out here... what good news is that?

Immie

 

[saveliberty]

Wow.

The spin in this thread is friggin' ridiculous.

3 Quarters of economic growth is good news in anyone's book. 3.2% is a fair amount of growth to celebrate.

You all are the same people that were crowing that last quarter's 5% growth was all due to temporary programs that were due to expire...

...Well, those programs have expired, and the 3.2% growth is what we have left afterwards. And that's still pretty damn respectable.

Coupled with the good news in unemployment over the last few weeks, we can now officially declare the recession OVER, and state positively that the economy is on the upswing again. Thank God.

So, please, enough with the spin. It's time for you all to admit that the recovery is in full swing and stop bitching and complaining that it's not growing fast enough for your tastes. At least it IS growing.

Of course, according to Rush Limfat and the ditto-heads, the economy was supposed to sink into a full-blown depression because Obama and the Democrats were in charge. Just another bad prediction by Rush that never came true. Wonder how he'll try to revise history this time?

Recovering is a better term than growing. The recovery is also spotty at best. Even admistration officals are quick to point out jobs need to recover before it is really progress. Why are you having such a hard time understanding that?

 

[Vast LWC]

Recovering is a better term than growing. The recovery is also spotty at best. Even admistration officals are quick to point out jobs need to recover before it is really progress. Why are you having such a hard time understanding that?

I don't have a hard time understanding any of that.

I do understand, however, that unemployment is always the last thing to recover after any recession. It took 2 1/2 years for unemployment to start it's recovery for Reagan.

At the moment, unemployment has already dropped. Not by much, but it's an improvement nonetheless. That's a full year sooner than Reagan.

What I do have a hard time understanding is why anytime good news comes out, right-wing folks are quick to say that it's all some kind of charade, or find an excuse as to why "it won't last". It's like you're intentionally trying to stop the recovery from happening by undermining consumer confidence.

Now, I can see why you don't want Obama to succeed, but do you really want the US economy to go down again just to make a point???

 

[Hamlet]

Higher taxes? What higher taxes? Taxes are lower now than they were last year.

Oh really? Then you jackass party members can NO LONGER COMPLAIN that the deficit and national debt continuing to increase exponentially is Bush's fault.

What kind of jackass Democrat president lowers taxes in a time of war??? How ******* stupid is that!!!!???

Wait, are you complaining about lower taxes? That's a change.

And officially, America is not in a time of war.

Tell that to the loved ones who have lost people in this whatever you want to call it?
Does armed conflict sound better?