WOE THE DAY...................
Posted on 09/29/2004 5:32:49 AM PDT by Rutles4Ever
Oh, the pain.
WOE THE DAY...................
WASHINGTON (CBS.MW) - Second-quarter U.S. growth was revised higher to a 3.3 percent annual rate from the 2.8 percent previously reported, the Commerce Department said Wednesday.
It's the slowest growth in five quarters.(CBS couldn't resist) The economy grew at a 4.5 percent rate in the first quarter and has grown 4.8 percent in the past four quarters.
The second revision to real gross domestic product in the April-through-June quarter was largely due to a decrease in estimated imports, an increase in estimated inventory accumulation, and an increase in estimated exports.
Final sales of domestic product increased 2.5 percent, up from 2.1 percent in the earlier estimate.
Economists were expecting an upward revision to 3.1 percent, according to a survey conducted by CBS MarketWatch.
The government will provide its first estimate of third-quarter growth on Oct. 29. Economists are expecting growth of about 3.7 percent.
Isn't is "sad" that the Democrats depend on bad news for their fortunes to rise? They are parasites on the body of the nation, like vultures that feed on the dead. Or, better, Draculas that feed on the living and turn them into the living dead.
FYI
Wow.
That is a very large revision upward. I was a bit concerned about the real unexpected drop to 2.8 - it didn't sound right at all. This seems much more reasonable.
.
LOL. Tom Daschle. The man with no shadow.
Not true.
Year over year, the economy grew 4.83% from 2q2003 to 2q2004. Year over year, the economy grew 5.04% from 1q2003 to 1q2004. Both figures are as good as or better than anything during the so-called "Clinton Boom". The best performance then was 3q1996 to 3q1997 with 4.79% growth and 2q1999 to 2q2000 with 4.85% growth.
Also, the first recessionary quarter for GDP was in 3q2000, followed by additional negative growth in 1q2001 and 3q2001. In other words, excepting 9/11 and its aftermath, the 2000-2001 recession occurred on Clinton's watch, prior to the commencement of Bush's economic policies, and mostly prior to his inauguration.
The negative GDP growth in 3q2000 vindicates Bush and Cheyney warnings in 11/00 and 12/00 that we were already in a recession.
Yes, but it's a jobless recovery.
Well, OK, jobs are being created, but they're burger-flipping jobs.
Alright, alright, in fact they're good jobs.
But look at the unemployment rate!
Well, true, it's lower than during the Clinton years.
Look, if you want to be President that bad, fine, take it.
Clinton, widely believed to have enjoyed a great economy during his term, had only 5 quarters of growth above 4% in the 15 quarters prior to his reelection.
Bush, widely believed to have enjoyed a terrible economy during his term, has had 4 quarters of growth above 4%, with one more to go, and spotting Clinton the headstart of a recession during Bush's first year and a half in office.
Most of Clinton's "Boom" was in the period 2q1996 to 2q2000, with Clinton enjoying the effects of new economic policies from the Republican Congress that helped produce a 20.5% economic expansion.
Great news! It's sure to make sKerry's day, he's gonna need a few more botox shots for tomorrow night.
HA! HA!
Yes... but but but what about unemployment.... or or or or consumer confidence or or or inflation. There must be SOMETHING BAD IN THE ECNOMEY THE PRESS CAN WRITE ABOUT!
What? You're pinging me because Dubya's spinmeisters are massaging and overhyping "news" from last spring just in time for the election?
Sheeeesh, you gotta get some perspective on how they manipulate this stuff.
New Labor Department Report Reflects Bush Administration's Lack of Seriousness...
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