US GDP drops to 2.2% in Q1

Hotair ^ | 04/27/2012 | Ed Morrissey

[Gaffer]

I agree that’s his end motive, but he needs to keep the structure in place to get the votes to finally secure his power... I have no doubt that once he does this, he’ll change tack and go openly about what he’s really intending i.e., the revenge and reparations you describe...until then, he has to keep the means to his power viable.

[chiller]

Agreed. Months, even years ago, I sensed good things for '12 because Obie's policies could not, would not succeed. They just needed time to ripen, and fall apart during campaign season. I'm breathing easier every week as another leg of the Obama administration crumbles.

And the farm child labor provisions--though withdrawn--serve a purpose to demonstrate what could be ahead.

SC decisions, Fast and Furious.....lots more to crumble.

[unkus]

According to the ‘rats, if the economy is still down, it’s due to Bush’s policies,
and only when it starts to get better can we say that 0bama’s policies are having an effect.

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The Rats will never admit that Clinton enjoyed an economy that was still running on Ronald Reagan’s coat tails.

[csmusaret]

Add in all the campaign spending and it is even worse.

[erod]

Whoever, wants 4 more years of this regime is insane.

[Lazlo in PA]

At this point in time when Reagan took over ( after the Carter recession ), the US GDP was growing by above 4%.

Your being modest. GDP growth was 7.3% in Q1 1984. The average over the Reagan years was 4.3%. Let's also remember that oil prices dropped significantly as well for an extended period after Reagan took office.

[tiki]

I figure that it will be “unexpectedly” revised downward on May 31.

[GOPRaleigh]

This.

“Everyone is running around this morning surprised at how low this figure is. I am surprised at how high it is.”

[unkus]

Well, obviously, if the economy isn’t recovering,
we haven’t given 0bama’s policies enough time to take effect - “it was worse than we thought and will therefore take more time”.

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Yep. Like the old Communist ‘Five Year plans’.

This will be the 4th ‘Summer of Recovery’.

[kcvl]

During the Reagan administration, the American economy went from a GDP growth of -0.3% in 1980 to 4.1% in 1988 (in constant 2005 dollars), which reduced the unemployment rate by 1.6%, from 7.1% in 1980 to 5.5% in 1988

http://en.wikipedia.org/wiki/Reaganomics

[khelus]

A good approximation of the GDP adjusted by an inflation rate that has not been subjected to enhancements that suppress inflation. Note: government spending has not been removed.

[tcrlaf]

“but stronger demand for automobiles softened the blow.”

Pretty damn easy to sell new cars when Government-owned Ally Bank is financing 450 Score Credit Criminals on Government Motors cars, to boost Obama’s econ numbers.

And remember, Government-owned Ally Bank FAILED it’s stress test recently.
I can’t IMAGINE why, can you?

Yeah, this is how it works in a fascist, centrally-planned economy, folks. YOU will get stuck with the bill.

[tcrlaf]

“Unexpected! Drink!”

UNEXPECTEDLY UNEXPECTED!!!!

[Chode]

that's just toooo damn funny...