Posted on 10/27/2022 6:53:23 AM PDT by ChicagoConservative27
President Biden on Thursday took a victory lap after federal data showed the U.S. economy grew by 2.6 percent during the third quarter of the year and accused congressional Republicans of “rooting for a downturn.”
“For months, doomsayers have been arguing that the US economy is in a recession and Congressional Republicans have been rooting for a downturn,” Biden said in a statement. “But today we got further evidence that our economic recovery is continuing to power forward. This is a testament to the resilience of the American people.”
Commerce Department data showed U.S. gross domestic product (GDP) grew at an annualized rate of 2.6 percent between July and September, up from declines of 1.6 percent in the second quarter and 0.6 percent in the third quarter of 2022.
(Excerpt) Read more at thehill.com ...
Yep, Costs are up 50% and spending is up 2% means people are spending 48% less and getting 50% less.
Every time Biden opens his trap, out comes lie after lie.
Joe is an adviser to Fetterman.
Yeah. It must be that $900 billion in outlays in September that did it.
What a puke.
“President Biden on Thursday took a victory lap”
The Hill is toxic rat infested land fill
Shut up, Joe.
Numbers adjusted downward to be released by the Dept of Commerce 11/9.
Send her to Aldi’s. Immediately.
$1.92 Trillion in government spending in the last quarter did the trick. No negative consequences to that. /s
So, Jamie Dimon, head of JP Morgan, was wrong about the coming economic hurricane and other “doomsday” predictions? And make no mistake, Dimon is a hardcore leftist whose bank give tens of millions of Wall Street money to Democrats.
Count on it. This is such obvious gaslighting.
These number will be adjusted down “unexpectedly” after the election.
If the media help him out and broadcast these new GDP numbers 24-7 for the next 10 days they might still be able to drag the Democrats over the finish line. We should not get complacent.
I have done accounting for over 65 years.
NOT buying these figures.
The next morning-—11-9
“annualized rate of 2.6 percent”
Question for anybody who knows the answer.
If we grew 2.6% but inflation is 8% (or thereabout if you believe the government) does that mean we actually contracted at an annualized 5.4%?
Or does it mean the economy grew by 10.6% (that is, accounting for inflation)?
Love the description...made me grin!
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