Click here to read about the Obama miracle...

The economy was already slowing down in the fourth quarter of last year, with the GDP increasing by just 2.2 percent, a very mediocre growth rate no matter how you slice it.

This week, Mr. Obama’s Commerce Department issued its second estimate of how the economy performed in the first three months of this year, announcing again that it had not just stopped growing, but was declining.

After tinkering with its numbers with what they said was fresh economic data, the government changed its original assessment of the nation’s gross domestic product (GDP) — the broadest measure of our economy.

The economy did a little better than its first calculation of minus 0.7 percent. Instead, it had only shrunk by minus 0.2 percent. Why? People were spending less. Exports were down. Businesses were reluctant to invest in expansion. Retail sales were lackluster. The U.S. economy wasn’t just anemic, it was contracting.

Economists are already forecasting second-quarter growth at a sickly 1 to 2 percent. “Still, that would leave growth in the first half [of this year] at a weak 1.2 percent annual rate,” the Associated Press reported Wednesday.

And many forecasters are saying the Obama economy will not do much better than that for the rest of this year, or possibly into next year as well.

The only positive going on in our economy is cheap energy resulting from the Bakken and shale, facilitated by fracking. All of which Obama and the democrats have opposed.

But....Flags....and Marriage.....and Obamacare.....

(06-26-2015 11:25 AM)MonarchManiac Wrote:  But....Flags....and Marriage.....and Obamacare.....

Predictably....this one is getting buried pretty quickly. Guess the economy of this nation is not nearly as important as who gets to marry who and what kind of outrage we have over what private pool everyone gets to swim in.

(06-26-2015 02:58 PM)MonarchManiac Wrote:  Predictably....this one is getting buried pretty quickly. Guess the economy of this nation is not nearly as important as who gets to marry who and what kind of outrage we have over what private pool everyone gets to swim in.

this story may get some traction sometime before Hillary's coronation.

Why do you think the news media has been pushing everything else?

The economy sucks and ultimately it's the only thing we ALL care about.

(06-26-2015 09:54 AM)No Bull Wrote:  Click here to read about the Obama miracle...

The economy was already slowing down in the fourth quarter of last year, with the GDP increasing by just 2.2 percent, a very mediocre growth rate no matter how you slice it.

This week, Mr. Obama’s Commerce Department issued its second estimate of how the economy performed in the first three months of this year, announcing again that it had not just stopped growing, but was declining.

After tinkering with its numbers with what they said was fresh economic data, the government changed its original assessment of the nation’s gross domestic product (GDP) — the broadest measure of our economy.

The economy did a little better than its first calculation of minus 0.7 percent. Instead, it had only shrunk by minus 0.2 percent. Why? People were spending less. Exports were down. Businesses were reluctant to invest in expansion. Retail sales were lackluster. The U.S. economy wasn’t just anemic, it was contracting.

Economists are already forecasting second-quarter growth at a sickly 1 to 2 percent. “Still, that would leave growth in the first half [of this year] at a weak 1.2 percent annual rate,” the Associated Press reported Wednesday.

And many forecasters are saying the Obama economy will not do much better than that for the rest of this year, or possibly into next year as well.

This is the new normal.i suspect the recent economic trends more closely mirror socialist European countries than historical US trends.

This is what an economic boom looks like under the new normal.

(06-26-2015 11:25 AM)MonarchManiac Wrote:  But....Flags....and Marriage.....and Obamacare.....

We had the "Great Recession" and Obama's very first act as president-to provide funding for groups that do abortions overseas. It was a very clear message as to what his priorities were. Getting people back to work was an irritant distracting from his plans of remaking America.

The new normal is a myth made up the progressives to cover their ass on Obama's economy. A republican president will get the economy cranking.