Posted on 08/28/2014 10:47:15 AM PDT by Hotlanta Mike
When the economy shrinks substantially over the course of an economic quarter, tepid recoveries tend to look, well, tepid. The nonpartisan Congressional Budget Office has slashed its predictions for US economic growth in 2014:
The Congressional Budget Office on Wednesday forecast that the U.S. economy will grow by just 1.5 percent in 2014, undermined by a poor performance during the first three months of the year. The new assessment was considerably more pessimistic than the Obama administration's, which predicted last month that the economy would expand by 2.6 percent this year even though it contracted by an annual rate of 2.1 percent in the first quarter...Even with the [Q2] rebound, economists have lowered their outlook for the entire year, given the weak start. Economists at JPMorgan Chase are forecasting that the economy will grow by 1.9 percent this year, when measured from the fourth quarter, down from 3.1 percent in 2013.
(Excerpt) Read more at townhall.com ...
BFL
Nothing to see here, folks. The Administration’s talking point instructions to the MSM will be “it’s a result of the terrible economy under Bush”. And so it will be reported to the low information minions.
It’s not even 1.5%.
This was so predictable its funny.
ANY statistics of any kind put out by the government are complete lies.
Erkel Obama - LOL!
That damn Bush.. after working round the clock, 24/7 for more than five years suffering racist taunts from white America PRESIDENT! Obama mmmm, mmmm, mmm Obama! Obama! Obama! has not been able fix all the problems, but he’s almost there, report the employees of the MSM . . . .
The middle class found out they were either losing their health insurance or paying more.
The Obama people blamed it on cold weather. HA!
Your friend,(and President, OK?)
Barack Hussein Obama, Jr. (or II)
I think it was Dennis Prager who said the left is not interested in prosperity but equality, so they consider it acceptable if everyone is in poverty as long as it is equal.
That’s unexpected. I would have guessed that if ObamaCare didn’t produce robust growth, then amnesty for illegals, a minimum wage increase, of the other far left proposals would produce that growth. It’s almost like big government doesn’t really work to help people.
Of course that is 1.5% growth after the official inflation rate is figured in. When the real rate is applied, however, it is not so rosy.
They determine to be the 5% that controls everything but the resulting economy will necessarily reduce that %age and the conniving and backstabbing will begin in earnest as the resources decline.
Funny, Obama didn’t mention this just now when he was bragging that the second quarter GNP had been upgraded to 4.2%......
To quote from Frank Herbert, most revolutionaries are closet aristocrats - they want to overthrow the existing system with the assumption they’ll be in charge in the new one.
Kenny, you know a faltering economy is going to have a disparate impact on the lowfo, I mean low income voters. Poverty is already back to 1960 levels. And add to that the effort to legalize millions of criminal aliens. In other words, blacks have been hustled by a mulatto charlatan.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.