Posted on 07/28/2018 3:57:43 AM PDT by where's_the_Outrage?
It is amazing that Obama's highest GDP (stated at over 5%) happened just before the 2014 election.
Rush was mentioned this about how this happened, but I don't have the transcript.
It is further amazing that Obama could reach a high of over 5% for a quarter but not get 3% for the year.
Now the MSM if falling overall themselves to justify why Obama never got 3%. And how Obama deserves credit for jump starting the Trump economy.
So how real was that 2014 5% GDP? Was it later revised downward?
Good question. It was just before the 2014 midterms, Coincidence?
Statistical tricks were constantly used, like the “low” unemployment rate during Obozo’s term.
Had to make the Usurper & his incompetents look good, of course. With that bunch of bozos, appearance was everything.
How do socialists improve the economy? Cook the Books! Falsify the statistics! If the media will buy it, who cares
That hope and change...../s
I never heard mention of these "U" numbers prior to Obama. The unemployment rate was the unemployment rate. Under dumbass's rule, they had to parse them out to make them sound better.
With that alone, all other Obama stats should be taken with a tiny grain of salt...
I can find you a bazillion market watch youtube videos completely countering this claim and predictions for 2017.
What a bunch of Orwelian bull sht.
I think Rush said they later “corrected” the figures at a lower rate.
Like most things related to 0bama, it was most likely a lie, swallowed whole by his fawning media lapdogs, and spewed forth as gospel truth.
I believe they moved medical spending due to Obamacare from a previous low GDP quarter and applied it to the quarter before the election. There were several articles about it at the time. It was total BS number manipulation.
I read something this morning that it was due to a bounce back from a lousy year the previous year. Not sure where I read it...probably on here.
The headline on today’s Baltimore Sun fishwrap says “highest since 2014” and then the article highlights Obama’s 5.1 % in 2014. It must be nice to have the Fake News propaganda media on your side.
yep statistical fraud from fudging Obamacare numbers
https://www.powerlineblog.com/archives/2014/12/about-that-5-gdp-growth-rate.php
Fake numbers for a fake POTUS...
Everything about that faggy, jug-eared azzclown was either a fake or a lie.
That quarter in 2014 was the top of the oil fracking boom before the crash.
Fracking was adding half a trillion dollars to the US economy at the time despite the obama admin’s best efforts to kill it.
Victor Davis Hanson has said that the media is actually the Democratic Party now and the DNC is nothing but a puppet control by the media.
— Frederic Bastiat
Mssr. Bastiat also wrote this:
Socialism, like the ancient ideas from which it springs, confuses the distinction between government and society. As a result of this, every time we object to a thing being done by government, the socialists conclude that we object to its being done at all. We disapprove of state education. Then the socialists say that we are opposed to any education. We object to a state religion. Then the socialists say that we want no religion at all. We object to a state-enforced equality. Then they say that we are against equality. And so on, and so on.It is as if the socialists were to accuse us of not wanting persons to eat because we do not want the state to raise grain.
I do not dispute their right to invent social combinations, to advertise them, to advocate them, and to try them upon themselves, at their own expense and risk. But I do dispute their right to impose these plans upon us by law – by force – and to compel us to pay for them with our taxes.
The estimate was revised upward with a wild jump in numbers, from 3.5%, to 3.9% & to 5%. The linked article gives more information about the components.
NYT Nov. 25, 2014
But the Commerce Department’s release on Tuesday of its revised estimate of gross domestic product — the broadest measure of goods and services produced across the nation — showed that consumers had already stepped up their pace of purchasing.
The shift in the annual rate of growth to 3.9 percent from 3.5 percent was mainly because of a bigger-than-expected jump in consumer spending, bolstered by a modest increase in reported business investment.
National Income and Product Accounts
Gross Domestic Product: Third Quarter 2014 (Third Estimate)
Corporate Profits: Third Quarter 2014 (Revised Estimate)
Real gross domestic product — the value of the production of goods and services in the United States, adjusted for price changes — increased at an annual rate of 5.0 percent in the third quarter of 2014, according to the “third” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 4.6 percent....
https://www.bea.gov/newsreleases/national/gdp/2014/gdp3q14_3rd.htm
IIRC that high figure was revised downward a couple of months later.IIRC it went from about 5 to about 3 after the revision.
Great article. Unethical economists can make the numbers say anything they want them to say especially with the MSM in their laps.
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