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Keyword: gdp

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  • Obama Claims Credit for Booming Economy [semi-satire]

    12/09/2017 9:11:19 AM PST · by John Semmens · 6 replies
    Semi-News/Semi-Satire ^ | 10 Dec 2017 | John Semmens
    Rosy economic statistics showing a robust 3.3% annual growth in gross domestic product and an all time low in the unemployment rate for Hispanics prompted former President Barack Obama to assert that "the real credit for this good news belongs to me." "Trump wants everyone to believe that his relaxation of regulations and championing of tax cuts deserve the credit," Obama said. "What he and everyone else is overlooking is that the stringent regulations and high taxes that prevailed for my eight year term built up the 'coiled spring' pressure that, when released by Trump's moves, allowed the economy to...
  • Americans Spent $409 Billion Filing Taxes In 2016—That’s 2.2 Percent Of GDP

    12/06/2017 12:22:37 PM PST · by Thalean · 25 replies
    National Economics Editorial ^ | Dec 6, 2017 | Editorial Staff
    According to a report from the Tax Foundation, Americans spent $409 billion (2.2 percent of GDP) on tax compliance in 2016. This works out to 8.9 billion man-hours wasted preparing tax returns, which is the equivalent of roughly 4 million full time jobs. The Tax Foundation’s figure includes time spent by individuals preparing and filing their taxes, and money spent by individuals and corporations on tax services provided by accountants and lawyers. Essentially, it is wasted money. The billion dollar question: why does America waste so much money doing taxes? Because of complexity. The US Tax Code is so inordinately...
  • The Mythical 3% GDP Growth

    11/30/2017 8:18:26 AM PST · by grayhog · 14 replies
    MSNBC (video) ^ | 2/26/2017 | Stephanie Ruhle
    The Trump administration releases their budget, but the numbers are based on an major assumption. MSNBC's Stephanie Ruhle explains why relying on a 3% growth rate for our GDP is just "pie in the sky." This is a short 2 min video under their series "For Facts Sake" - have to watch it to see this smug elitist in the media. They were as confident in this as they were in Hillary winning.
  • Report: 3 Percent U.S. GDP Growth Rate Is Unrealistic

    11/30/2017 7:38:55 AM PST · by grayhog · 27 replies
    Inc. Magazine ^ | 5/19/2017 | Leigh Buchanan Editor-at-large, Inc. magazine
    The fiscal 2018 budget, due to drop Tuesday, will likely reflect assumptions that economic growth of 3 percent or more will make President Trump's spending proposals work. Those are bad assumptions, according to a new research paper from the Committee for a Responsible Federal Budget.... But the number is unrealistic, said Marc Goldwein, senior policy director at the bipartisan CRFB, in a press briefing. A more credible number is just south of 2 percent, more than a percentage point below the 3.2 percent average annual rate the U.S. has enjoyed since 1950.... "The bottom line," said Goldwein, "is we should...
  • If Trump thinks he can get more than 3% economic growth, he's dreaming

    11/30/2017 7:30:41 AM PST · by grayhog · 47 replies
    LA Times ^ | 5/19/2017 | Michael Hiltzik
    With the political world deeply focused on the question of whether the Trump administration comprises a gang of Russian pawns, less attention has been devoted to more mundane questions, such as what ever happened to Trump’s economic policy? As it happens, economists are keeping their eye on that ball, and their conclusion is that it’s in a bad way. More specifically, they recognize that Trump’s policy is aimed heavily at achieving annual economic growth of more than 3%... The U.S. hasn’t had sustained real annual growth (that is, over inflation) of better than 3% since the 1990s, with a brief...
  • BOOM! Third Quarter GDP Revised Up To 3.3%

    11/29/2017 11:29:29 AM PST · by Enlightened1 · 12 replies
    Breitbart ^ | 11/29/17 | John Carney
    The economy’s rate of economic growth was revised up Wednesday to the fastest pace in three years, the Commerce Department said Wednesday. Gross domestic product grew at a 3.3 percent annualized rate in the July through September period, an increase from the previous estimate of three percent. The increase means economic growth was stronger in the third quarter than previously believed despite the damage done by hurricanes Harvey and Irma The revision also shows that the economy has been growing at a rate closer to what President Donald Trump said he would achieve than what many economic forecasters thought was...
  • Tired of all the winning? 3Q GDP revised upward to higher than expected 3.3%

    11/29/2017 7:57:16 AM PST · by SeekAndFind · 14 replies
    American Thinker ^ | 11/29/2017 | Monica Showalter
    U.S. third quarter gross domestic product was revised upward this morning, to 3.3% growth. Unexpectedly, of course, in the minds of analysts, who see no connection between a broadly free market president who is determined to do right by the American people, and results like these. Tired of winning, yet? Yet there is a connection. The free market is happily responding to thousands and thousands of regulations being cut, an end to business being targeted as the enemy, and the prospect of fairer taxes in the future. And what it means is jobs, jobs, jobs, and lots of investment bringing...
  • President Trump Accomplishes the Impossible: Reduces Debt to GDP Ratio by 1% His First Year

    11/21/2017 12:52:23 PM PST · by SeekAndFind · 6 replies
    The Gateway Pundit ^ | 11/20/2017 | Joe Hoft
    President Trump’s policies have decreased the Debt to GDP ratio by 1% while at the same time the Atlanta Fed announced yesterday that the 4th Quarter GDP estimates have increased by 0.2% to 3.4%. Since his inauguration President Trump has focused his efforts on the security of the country and on the prosperity of its economy. The results of his actions are taking shape.The US GDP has increased each quarter in 2017 with the 3rd Quarter GDP increasing to $19.496 trillion – the highest GDP for any country in world history.On the other hand, the President has curtailed US spending....
  • President Trump [Does] the Impossible: Reduces Debt to GDP Ratio by 1% His 1st Year in Office

    11/19/2017 4:59:03 PM PST · by upchuck · 45 replies
    GP ^ | Nov 19(?), 2017 | Joe Hoft
    President Trump’s policies have decreased the Debt to GDP ratio by 1% while at the same time the Atlanta Fed announced yesterday that the 4th Quarter GDP estimates have increased by 0.2% to 3.4%. Since his inauguration President Trump has focused his efforts on the security of the country and on the prosperity of its economy. The results of his actions are taking shape.The US GDP has increased each quarter in 2017 with the 3rd Quarter GDP increasing to $19.496 trillion – the highest GDP for any country in world history.On the other hand, the President has curtailed US spending....
  • Atlanta Fed Upgrades Growth Estimate to 4.5 Percent

    11/02/2017 1:40:22 PM PDT · by ForYourChildren · 26 replies
    Newsmax ^ | 11/02/2017 | na
    The U.S. economy is on track to grow at a 4.5 percent annualized pace in the fourth quarter even as data showed domestic factory sector growth retreated from a 13-1/2 year peak in October, the Atlanta Federal Reserve’s latest GDPNow forecast model showed. The latest estimate for fourth-quarter gross domestic product growth was faster than the 2.5 percent growth rate calculated on Monday, the Atlanta Fed said. Meanwhile, the number of Americans filing for unemployment benefits fell to a near 44-1/2-year low last week, supporting expectations of a sharp rebound in job growth in October after employment was depressed by...
  • Atlanta Fed Upgrades Growth Estimate to 4.5 Percent

    11/02/2017 8:29:25 PM PDT · by LesbianThespianGymnasticMidget · 9 replies
    Newsmax ^ | Thursday, 02 Nov 2017 | Andrey-Popov
    The U.S. economy is on track to grow at a 4.5 percent annualized pace in the fourth quarter even as data showed domestic factory sector growth retreated from a 13-1/2 year peak in October, the Atlanta Federal Reserve’s latest GDPNow forecast model showed. The latest estimate for fourth-quarter gross domestic product growth was faster than the 2.5 percent growth rate calculated on Monday, the Atlanta Fed said. Meanwhile, the number of Americans filing for unemployment benefits fell to a near 44-1/2-year low last week, supporting expectations of a sharp rebound in job growth in October after employment was depressed by...
  • The Canadian dollar hits its lowest level in 3.5 months after GDP unexpectedly shrinks

    10/31/2017 7:05:23 AM PDT · by SeekAndFind · 16 replies
    Business Insider ^ | 10/31/2017 | Jonathan Garber
    The Canadian dollar, or loonie, is trading at its lowest level since early July, down 0.46% at 1.2893 per US dollar, after Canada's GDP unexpectedly shrank in August. Tuesday's GDP report showed the Canadian economy contracted 0.1% month-over-month, making for its first negative print in a year. Wall Street economists were expecting 0.1% MoM growth. Additionally, the economy grew at a 3.5% year-over-year clip, missing the 3.6% growth economists were anticipating. The loonie has been under pressure, falling about 7%, since shortly after the Bank of Canada surprised markets with a rate hike at its September meeting. At the time,...
  • U.S. economy grew at a 3 percent rate, a win for Trump (Washington Post Headline)

    10/27/2017 9:16:52 AM PDT · by SeekAndFind · 66 replies
    Washington Post ^ | 10/27/2017 | Heather Long
    The U.S. economy expanded at a 3 percent annualized rate between July and September, advancing President Trump's goal of faster economic growth and potentially providing a tail wind to Republican efforts to overhaul the tax code. The robust pace of economic growth defied analysts' expectations that activity might slow in the third quarter because of Hurricane Harvey. The economy also grew at 3 percent in the spring, the Bureau of Economic Analysis reported Friday. Combined with a strong labor market and record highs in the stock market — the Standard & Poor's 500 index is up nearly 15 percent year...
  • First Reading On Third-Quarter GDP Up 3.0%, vs 2.5% Rise Expected

    10/27/2017 6:10:22 AM PDT · by Enlightened1 · 15 replies
    CNBC ^ | 10/27/17
    The U.S. economy unexpectedly maintained a brisk pace of growth in the third quarter. An increase in inventory investment and a smaller trade deficit offset a hurricane-related slowdown in consumer spending and a decline in construction. Gross domestic product increased at a 3.0 percent annual rate in the July-September period after expanding at a 3.1 percent pace in the second quarter The U.S. economy unexpectedly maintained a brisk pace of growth in the third quarter as an increase in inventory investment and a smaller trade deficit offset a hurricane-related slowdown in consumer spending and a decline in construction. Gross domestic...
  • GDP Is Bogus: Here's Why

    10/19/2017 10:36:30 AM PDT · by SeekAndFind · 16 replies
    Of Two Minds ^ | 10/19/2017 | Charles Hugh Smith
    The rot eating away at our society and economy is typically papered over with bogus statistics that "prove" everything's getting better every day in every way. The prime "proof" of rising prosperity is the Gross Domestic Product (GDP), which never fails to loft higher, with the rare excepts being Spots of Bother (recessions) that never last more than a quarter or two. Longtime correspondent Dave P. of Market Daily Briefing recently summarized the key flaw in GDP: GDP doesn't reflect changes in the balance sheet, i.e. debt. So if we borrow money to pay people to dig holes and then fill them with the excavated...
  • This Economy is 'Trump Strong'

    10/07/2017 5:04:45 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | October 7, 2017 | Wayne Allyn Root
    There's been a lot of negative stories in the news. Have you noticed? America needs to heal. We have suffered four consecutive body blows in the past six weeks. Hurricane Harvey, Hurricane Irma, Hurricane Maria and now the Vegas mass murder. The media lives by the mantra “If it bleeds, it leads.” And they have served us nonstop headlines of crisis, death, and destruction. But amidst all these negative headlines, we missed some remarkable positive economic news. What Vegas and America need now is some great news. The kind of news that makes you smile and pound your fist in the air....
  • “Inflation is Coming, Inflation is Coming!”

    09/23/2017 6:24:24 AM PDT · by Kaslin · 69 replies
    Townhall.com ^ | September 22, 2017 | Dan Celia
    All around the Federal Reserve building, someone for years has been riding his horse—a la Paul Revere—crying out in excitement over the notion that 2 percent inflation is finally coming. This week, Janet Yellen has finally gotten to where many other Central Bankers around the world already are—it’s not happening. We’re not even close. Especially since we haven’t seen any real, sustainable increases in the Producer Price Index (PPI) or the Consumer Price Index (CPI). Indeed, the European Central Bank leaders (along with the Fed) have been throwing everything they possibly can at inflation, and it doesn’t seem to move....
  • Why We're Doomed: The point is the present system cannot endure

    09/01/2017 8:44:20 AM PDT · by SeekAndFind · 13 replies
    Of Two Minds ^ | 08/31/2017 | Charles Hugh Smith
    Authored by Charles Hugh Smith via OfTwoMinds blog,The point is the present system cannot endure.Despite all the happy talk about "recovery" and higher growth, wages have gone nowhere since 2000--and for the bottom 20% of workers, they've gone nowhere since the 1970s.Gross domestic product (GDP) has risen smartly since 2000, but the share of GDP going to wages and salaries has plummeted: this is simply an extension of a 47-year downtrend.Last month I posted one reason Why We're Doomed: Our Economy's Toxic Inequality (August 16, 2017). The second half of why we're doomed is stagnant wages. Why do stagnating...
  • GDP Increases 3% in Second Quarter, More Than Double The Growth Seen in First Quarter

    08/30/2017 10:16:36 AM PDT · by ForYourChildren · 37 replies
    Washington Free Bacon ^ | 08/30/2017 | Ali Meyer
    GDP growth also exceeded economists' expectations! The U.S. economy expanded in the second quarter of 2017 as real gross domestic product grew at a rate of 3 percent, according to the second estimate released by the Bureau of Economic Analysis. Real GDP represents the value of the production of goods and services in the economy and is adjusted for inflation. The second quarter growth in 2017 of 3 percent, which includes performance from April, May, and July, more than double the 1.2 percent growth seen in the first quarter of 2017. According to economists surveyed by Reuters, second quarter growth...
  • U.S. GDP Grows 2.6 Percent, More Than Double Q1

    07/28/2017 12:32:03 PM PDT · by SeekAndFind · 13 replies
    INC. ^ | 07/28/2017 | By Martin Crutsinger AP Economics Writer
    <p>The U.S. economy revved up this spring after a weak start to the year, fueled by a surge in consumer spending. But the growth spurt still fell short of the optimistic goals President Donald Trump hopes to achieve through tax cuts and regulatory relief.</p>