U.S. Economy Grows At Fastest Rate Since 2003

Quote:WASHINGTON (AP) — The U.S. economy grew at a sizzling 5 percent annual rate in the July-September period, the fastest in more than a decade, boosted by strength in consumer spending and business investment.

The Commerce Department on Tuesday sharply revised up its estimate of third-quarter growth from a previous figure of 3.9 percent. Much of the strength came from consumer spending on health care and business spending on structures and computer software.

It was the fastest quarterly growth since the summer of 2003. It followed a 4.6 percent annual growth rate in the April-June quarter.

Most economists think growth is slowing to an annual rate of around 2.5 percent in the current October-December quarter. They foresee growth around 3 percent in 2015.

That would be the strongest figure since the economy expanded 3.3 percent in 2005, two years before the Great Recession began.

Quote: strength came from consumer spending on health care

Thought that was supposed to decline.

Again.... Check the items in your houses, tell me what's made in the USA. The economy been declining since the 60's and is showing zero signs of real growth. Just because people are working in Walmarts and Red Lobsters doesn't mean the economy is growing.

(12-23-2014 10:02 AM)Redwingtom Wrote:  U.S. Economy Grows At Fastest Rate Since 2003

Quote:WASHINGTON (AP) — The U.S. economy grew at a sizzling 5 percent annual rate in the July-September period, the fastest in more than a decade, boosted by strength in consumer spending and business investment.

The Commerce Department on Tuesday sharply revised up its estimate of third-quarter growth from a previous figure of 3.9 percent. Much of the strength came from consumer spending on health care and business spending on structures and computer software.

It was the fastest quarterly growth since the summer of 2003. It followed a 4.6 percent annual growth rate in the April-June quarter.

Most economists think growth is slowing to an annual rate of around 2.5 percent in the current October-December quarter. They foresee growth around 3 percent in 2015.

That would be the strongest figure since the economy expanded 3.3 percent in 2005, two years before the Great Recession began.

Lol, you can thank Mr. Bernanke for DOW 18000.

Yep from July on most folks Knew the Democrats were going to Lose big in November and the Leftest control of Government would Fall. Hell I even had a Garage built with American Born Citizens.

Imagine what the economy would do with better policies coming from Washington.

Red please don't confuse people with facts. Rush is on vacation and they won't know how to respond.

(12-23-2014 11:25 AM)Fitbud Wrote:  Red please don't confuse people with facts. Rush is on vacation and they won't know how to respond.

So is "O"-Hole !

(12-23-2014 11:25 AM)Fitbud Wrote:  Red please don't confuse people with facts. Rush is on vacation and they won't know how to respond.

Facts unto themselves do not imply causation.

(12-23-2014 10:55 AM)CardFan1 Wrote:  Yep from July on most folks Knew the Democrats were going to Lose big in November and the Leftest control of Government would Fall. Hell I even had a Garage built with American Born Citizens.

I've seen you make this statement before. What metrics are you using to arrive at this conclusion?

Quote:The Commerce Department on Tuesday sharply revised up its estimate of third-quarter growth from a previous figure of 3.9 percent. Much of the strength came from consumer spending on health care and business spending on structures and computer software

So what did Obama have to do with any of this other than providing billions of dollars to insurance companies? And if you think pumping billions into insurance companies stimulates the economy then you believe in trickle down economics.

Quote:The country is on track to have its healthiest year for job growth since 1999. In November, employers added 321,000 jobs, the biggest one-month increase in three years.

Again, there's no mention of anything Obama may have done to cause this and it doesn't mention the quality of the jobs or if they're part time or full time.

Yet number of people on food stamps remains at all time high.

Food stamp rolls at record highs for 3 years

Labor participate rate of 62.8% is a historic low

Labor Participation Rate

Quote:In January 2009, there were 92.4 million Americans who were not employed. By November 2014, there were 101.5 million, an increase of 9.1 million.

Number of Americans No Longer working exceeds 100million

Americans on disability reaches nearly 11million

Disablity rolls at record highs

It's a great economy as long as you want to be an unemployed government dependent.

(12-23-2014 11:29 AM)QuestionSocratic Wrote:  

(12-23-2014 11:25 AM)Fitbud Wrote:  Red please don't confuse people with facts. Rush is on vacation and they won't know how to respond.

Facts unto themselves do not imply causation.

Falling gas prices will have more of an affect than any government policy enacted by this administration...and...it has zero to do with falling gas prices.

Gasoline and oil prices are down because the "drill, baby, drill" folks were right. You don't really think this is because we inflated our tires, do you?
The stock market is up because the Fed is pumping money into the economy and interest rates are roughly zero, so there's no place else for the money to go.
There's no fundamental improvement in the soundness of the US economy, just moving to a different place in the business cycle.

(12-23-2014 11:25 AM)Fitbud Wrote:  Red please don't confuse people with facts. Rush is on vacation and they won't know how to respond.

Y’know, you very rarely seem Limbaugh quoted or his arguments presented as gospel on conservative web sites. He's not even all that easy to listen too with his schedule up here in the Cities from 11-3 or something like that.

Now, entertainer Jon Stewart is frequently used as a primary source on Liberal web sites. What has he deemed clap-worthy today?

The President/government/congress/governor/general assembly only affects the economy when the party a person supports is in power.

(12-23-2014 05:19 PM)dawgitall Wrote:  The President/government/congress/governor/general assembly only affects the economy when the party a person supports is in power.

Go ask poor folks if they are better off today than 6 years ago and then get back to me. The only demographic that has benefited substantially from this President has been the rich. They have profited handsomely.

Although my wages dropped over the last 6 years...my retirement portfolio has increased dramatically. I am afraid though that we are creating a bubble that is poised to burst. I think the Fed is aware of this and has as much to do with keeping interest rates low as anything else.

(12-23-2014 05:34 PM)Fo Shizzle Wrote:  

(12-23-2014 05:19 PM)dawgitall Wrote:  The President/government/congress/governor/general assembly only affects the economy when the party a person supports is in power.

Go ask poor folks if they are better off today than 6 years ago and then get back to me. The only demographic that has benefited substantially from this President has been the rich. They have profited handsomely.

Although my wages dropped over the last 6 years...my retirement portfolio has increased dramatically. I am afraid though that we are creating a bubble that is poised to burst. I think the Fed is aware of this and has as much to do with keeping interest rates low as anything else.

There are any number of factors that create the economic conditions we see at any point in history. People tend to give more credit than is deserved to politicians they support and more blame than they deserve to the the ones they oppose.

I heard how fracking is driving the availability of Nat.Gas and crude and that on private land only. Imagine what we could do if we had the opportunity to explore our own govt. owned real estate.

It would be enormous.

Fracking- Natural gas availability and lower gasoline prices are all driving the economy to higher and higher levels. See what we can do with more carbon based energy ! ! Some folks are saying they now have something like $1400+ this year, especially around Christmas time and they are spending it. Spending is increasing in exponential fashion.

(12-23-2014 12:08 PM)Redwingtom Wrote:  

(12-23-2014 10:55 AM)CardFan1 Wrote:  Yep from July on most folks Knew the Democrats were going to Lose big in November and the Leftest control of Government would Fall. Hell I even had a Garage built with American Born Citizens.

I've seen you make this statement before. What metrics are you using to arrive at this conclusion?

I contracted with Four White Guys to build My Garage !