Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.5 percent in the second quarter of 2012, (that is, from the first quarter to the second quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent.
Now, the thing to ask yourself, is that a bug or feature of Obama’s plan?
h/t Hot Air
To reiterate, these numbers are annual rates. It’s easy for a casual reader to see Q1=2% and Q2=1.5%, add them and believe the economy grew 3.5% in six months. The actual growth was a quarter of that, or 0.9375%.
Which doesn’t even keep up with population growth, resulting in college loans that will just keep accruing interest while recent graduates are un(der)employed. Then they join OWS because somehow it’s the 1%’s fault they can’t get a decent job.
You’re right Monster, that step down from 2 to 1.5 shows an already gasping economy slumping to the floor.
I suppose everyone knows?
10% real inflation minus 1.5% growth — undoubtedly most of it the result of bullshit banking — kinda confirms what life actually feels like.
Call it pain and misery. Why thank you, says Barry, I think I shall:
Inflation with and without lies.
[…] Via Darleen at Protein Widsom: […]
OT, but must watch: C.L. Bryant’s speech at FreePAC last night.
There was lots of good stuff, but that was the barn burner. I’ve never had three hours of listening to speeches blow by so quickly.
Yo, Mitt! C.L. Bryant. Tampa. Give him a slot.
I know “You didn’t build that” has gotten most of the attention, and it is terrible, but I think this is worse. “We tried our plan, and it worked”. He concedes his plan was enacted, and then is either: 1) completely out of touch 2) lying 3) planning for economic disaster.
[…] a bug or feature of Obama’s plan? http://www.youtube.com/watch?v=x0etE…layer_embedded https://proteinwisdom.com/?p=42206 To reiterate, these numbers are annual rates. It’s easy for a casual reader to see Q1=2% and […]
Here ya go, JHoward. It’s called opportunity fire.
Thanks, Serr8d, you are a man among men. Posted here. Let’s make it go viral.
From where I sit… it’s much worse than all the links provided consider. It may very well be too late to save the republic.
Forgot… Obama’s winning slogan: Mission Accomplished.
On January 24, 2009, President Obama’s first week in office, there were 133,886,830 people in the labor force. (7.8% unemployment) The week of June 9, 2012 there were 127,048,587 people in the labor force. (8.2% unemployment) That is nearly 7 million fewer people working today in the United States. Unemployment has not dropped to less than 8.1% since President Obama’s first week in office.
On January 20, 2001, President Bush’s first week in office, there were 126,843, 537 people in the labor force. (4.2% unemployment) On 6/5/2004, there were 126,084,041 people in the labor force. (5.6% unemployment) Which means that even after dealing with the aftermath of 9/11 There was only a drop of 3/4 of a million workers. By the end of President Bush’s term, there were 133,886,830 workers, meaning that 7 million jobs were added during the Bush presidency.