Obamanomics FAIL: 2nd Quarter GDP up only 1.7%

Not only does the 2nd Quarter GDP figure suck, the 1st Quarter GDP figure was rounded down to 1.1%.

This isn't rocket science, folks - it's Econ 101. If you raise taxes on everyone, they are going to have less money to spend, and that results in less economic activity.

Welcome to the worst economic recovery in American history, brought to you by the Economic Illiterati in the Obama Administration and its "progressive" co-travelers.

 

Republicans make the sequester as damaging as possible to the economy. Refuse to pass any bills to help the economy, like closing the loopholes that benefit companies that ship jobs overseas, and basically make every effort to hurt the country for political gain, and the country is still growing faster than much of the world and economists predict that the economy will only get better and better.

Can you imagine what it would be like if we actually had a functional congress that put country above the politics of destruction.

 

Austerity in action!

 

This president is a horrible failure. The Senate Majority leader Harry Reid is even worse.

America, we can do better than this. Your chance to set matters straight is next year during the congressional mid-term elections.

Press the reboot button on these losers.

 

I heard some econ clown yesterday, before the number was published, downplaying the importance of the GDP number and paint this rosy picture about how the rest of year is looking really, really good. As soon as heard that I knew it was going to suck.

 

People fell for this in 2010... they're not gonna do it again. 2014 is gonna be another devastating blow for the Repubs. They are in disaster mode right now.

 

The sequester was Obama and Lew's brilliant idea, sport, and Obama owns the tax hikes that have reduced everyone's take-home pay in this country.

Take a bow, progs - this is what you voted for.

 

Can't make shicken salad out of Chicken chit, but it is humoring to see the usual suspect libs here keep trying !

What an unmitigated disaster the community organizer is ................

 

Yea, after 41/2 years & no budget for what, 3+ years now, I'm sure its all the rep's fault.

 

If so, this would be very unusual. I'll try to look it up, but I know that the party NOT in the White House almost always gains seats in midterm elections. As usual, the American public gives Congress as a whole a terrible rating, but gives their own representative a high rating. So we get a powerful "throw the other guys out, keep my guy in" response.

If the typical Republican voter is anything like the Repubicans posting here, they will vote overwhelmingly for a representative who votes against everything Obama does because "that's what he was elected to do", and then vote Republican because "Obama hasn't accomplished anything." Heads I win, tails you lose. Politics is about feeling good, not about being rational.

 

And that's BEFORE it gets "REVISED" downward, in about three weeks, and is completely un-reported.

 

I think these are extraordinary times. I mean even last Presidential election, no President has ever been reelected with such a high unemployment %. And the numbers in the election were not good for the Repubs. They are losing in the fastest growing populations and they continue their attack on minorities, poor people, women, etc. They aren't providing any real policies, they are still focusing on all these fabricated scandals and having all these useless hearings. Even Bob Dole came out this year and said they should close up shop for the year and create a new strategy.

Then you have the dagger in Chris Christie calling libertarian ideas dangerous. The Republicans in Congress have the worst ratings in all of politics. Nothing is looking good for the Repubs at all. They keep trying to win by making Obama look bad rather then actually providing ideas and doing something that helps the country.

I think they are in for a shock if they keep this up and I don't think they stand a chance in 2014 at this rate.

 

Actually, that was Obama's idea. He wanted to make the sequester felt by as many people as possible, because if it wasn't, then a lot of people would realize that he was simply blowing smoke with his fearmongering over how detrimental his sequester was going to be. The worst thing that can possibly happen to liberal Democrats is if Government spending is cut and nobody suffers for it.

 

Ah, here it is. The party of the sitting President has lost House seats in 17 of the last 19 midterm elections, the only exceptions being 1998 and 2002. Over this same period, the party of the sitting President has lost Senate seats 14 times, gained seats 3 times, and no change twice.

 

In about a month or so, theyll come out and revise all the numbers down, and blame bush.

 

Unless of course if DEFENSE spending is cut and nobody suffers. And by golly, defense spending was half the sequester.

 

Nope, I'm in favor of them cutting military spending. I'm not in favor of them cutting military spending so that liberal Democrats can build a bigger welfare state, however.

 

Good point.

If the 1st Quarter revision is any indication, the 2nd Quarter revision will take us down to 1.0%.

Craptacular!

 

Your eyes must be brown with all that BS.

The payroll tax hike stuff is BS because it was lowered by Obama as part of the dreaded stimulus. Payroll taxes are thaw same as they have been for 20 years. How about acknowledging that the temporary stimulus cut did exactly that.

And the sequester was part of a negotiation. Sure Obama came up with the idea as being something he could include to appease the republicans, but it is BS to say he supports it. The only person at the time saying the sequester was 90% of what they wanted was the republicans.

And read the flocking reports and the slow economy has a lot to do with cutting federal spending. You must be the kind of guy that complains the cable bill is too high and cancels his cable, then (*)(*)(*)(*)(*)es the TV doesn't get cable channels.

I would suggest you actually take Econ 101 someday, because you obviously have no idea.

You may believe your own delusions, but to anyone with a basic knowledge of facts, economics and no vested partisian delusions, your posts are comically ignorant.

 

Democrat Style!

What ever the sequester is, is all Democrat and it has OWEblamer's signature.

 

Job numbers are up, the housing market is recovering and the economy continues to recover. Everything is relative and few things more so than economic figures.

The real story is how the fiscal house is doing. The CBO estimates the Budget deficit will be 642 Billion for 2013. http://www.cbc.ca/news/business/story/2013/05/14/business-cbo-deficit.html

Considering it was at 1.4 Trillion when Obama stepped into office this is pretty good on the surface.

There is a big difference between being handed a deficit near zero (as Bush was) and having to deal with 1.4 Trillion in deficit.

I very much dislike Obama and his continued destruction of privacy rights and freedoms (continuing what Bush started - or rather ramped up).

I am a constitution loving fiscal conservative who long ago gave up on the GOP. Republicans had a horrific fiscal record starting with Reagan and they have no respect for the Constitution.

Dems also have no respect for the Constitution but they have been much better fiscal wardens.

At the end of the day we will likely see another Democratic President in 2016. The current number of complete clowns in the Republican party dwarfs those with any sense.

The latest moves on Immigration and Abortion will doom the GOP in the next election. Messing with the election laws is not going to help and demographics continue to move against the GOP.

Goldwater hit the nail on the head when he claimed that the Religious Right would doom the party.

 

People are going to try and talk around that, maybe post graphs or a regurgitated text file that they have about Obamas success....but really, this is the heart of it all.

A very simple thing....when people have it, they'll spend it. When they don't , they won't. Want people to spend? Stop picking their pockets clean.

 

The first thing we need to do is kill Obamacare, then we can move on repairing the economy from there.

 

Yeah, if we think things are bad now, wait till ObamaCare drops.



Blow'd up...

 

Oh the lame excuses, it was Obama's sequester and HE controls it and HE is making the most pain out of it for everyone. That being said it has nothing to do with the lame pathetic economic growth we have had under Obama and the Democrats.

The Republicans HAVE passed jobs producing legislation and have been fighting for tax reform both of which Obama and the Democrats have opposed. And BTW there are no loopholes that benefit companies shipping jobs overseas.