Has US economy bottomed out? Census suggests yes

pioneer press ^ | 9-20-12 | hope yen

[TurboZamboni]

WASHINGTON—The U.S. economy is showing signs of finally bottoming out: Americans are on the move again after record numbers had stayed put, more young adults are leaving their parents' homes to take a chance with college or the job market, once-sharp declines in births are leveling off and poverty is slowing. New 2011 census data being released Thursday offer glimmers of hope in an economic recovery that technically began in mid-2009. The annual survey, supplemented with unpublished government figures as of March 2012, covers a year in which unemployment fell modestly from 9.6 percent to 8.9 percent.

Not all is well. The jobless rate remains high at 8.1 percent. Home ownership dropped for a fifth straight year to 64.6 percent, the lowest in more than a decade, hurt by more stringent financing rules and a shift to renting. More Americans than ever are turning to food stamps, while residents in housing that is considered "crowded" held steady at 1 percent, tied for the highest since 2003.

[TurboZamboni]

and inflation is in check,too!(if you don't count food and gas)

[rxtn41]

Sure it has bottomed out..380,000 dropped out of workforce last month....or was it last week////

[GeronL]

These people still live in denial.

[Smokin' Joe]

When mom and dad can no longer support their offspring in the style to which they think they should be accustomed, maybe the kids will move out. It isn’t exactly ‘The Waltons’ out there for a lot of families. Besides, can’t separate households draw more ‘benefits’? (As in ‘if you can be listed as a dependant on someone’s tax return, you don’t qualify?’) If I’m wrong about that, someone correct me, please.

[John W]

One of many stand-on-your-head Bizarro World news stories you’ll see over the next six weeks as we do every election season to try and save the liberals day.

[EGPWS]

Everything is wonderful and when 0bama is reelected it will be Utopia.

Repeat as necessary.

[Mr. Bird]

Taken as a whole, however, analysts say the latest census data provide wide-ranging evidence of a stabilizing U.S. economy.

After a lengthy drop, even the Titanic stabilized. This article contains no good news, but actually reads as if there were an abundance of it.

[Texas resident]

Rush warned against this. obama’s media will run positive economy stories despite reality.
The news is fantasy land to prop up the One.
When Romney wins, this will be declared a depression.

[2ndDivisionVet]

Reality on the ground shouts NO!!

[cripplecreek]

We’re just riding low in the water compared to where we’re headed no matte who wins the election.

[mountainlion]

I don’t think that I will trust any government reports until after the election.

[Buckeye McFrog]

I thought we only took a Census in years ending in “0”? Where are they getting this data?

[COBOL2Java]

[NonValueAdded]

The census? Dated information and a blunt instrument at that. Label that article as an in-kind campaign contribution for Emperor O.

[Buckeye McFrog]

When Romney wins, this will be declared a depression.

And you'll know its a depression cause we'll have people jumping out of windows again. Course most of them will be Cable Network Pundits...

[Major Matt Mason]

Yes, I'm sure that the data being produced by the census bureau is trustworthy and unbiased. /s

[TurboZamboni]

if Romney wins, homeless people will become famous again.

[ilgipper]

So with 3.5 years of Obama policy, we have hit bottom. Cool. Sounds like his programs are working so well for the American people. They work so well, they have taken us all the way to a bottom three full years after enacted.

[2big2fail]

Perfect analogy. I am appropriating this today!

[TexasRepublic]

Wait until QE3 kicks in, then we’ll see some more inflation. Nevermind what the talking heads say - are YOU better today than four years ago? That is the question that needs to be repeated everywhere until election day.