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Title: The GDP Report is a political disaster for Democrats
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URL Source: http://hotair.com/archives/2010/07/30/q2-gdp-2-4/
Published: Jul 30, 2010
Author: Ed Morrissey
Post Date: 2010-07-30 13:18:40 by no gnu taxes
Keywords: None
Views: 1104
Comments: 6
This is a political disaster for Democrats. There’s no way to spin a 2.4% GDP rate as a positive step in a recovery. Worse yet, the pattern has been to revise these numbers downwards when Commerce firms up its data. The next statement of Q2 GDP will come on August 27, just before Congress comes back in session and right at the prime time of summer campaign season, just a week before Labor Day. If this drops much lower in the next iteration, Democrats will have to explain the failure of their economic program to angry voters across the nation — and they’re not going to want to hear “It’s Bush’s fault!” two years after electing Obama and four years after giving Nancy Pelosi and Harry Reid control of Congress.
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#1. To: no gnu taxes (#0)
As long as the alternative to Democrats is insane Republicans, the Democrats are in pretty good shape.
Chuckles... Riiight...there's just no way to spin positive growth after a deep recession as anything but negative.
Indeed, from another thread here, "Recession in U.S. Was Even Worse Than Estimated, Revisions Show," they paint a grim picture. An interesting aspect that I'm quite sure you didn't want to address, was the following quote: "The worst quarter of the current economic slump is now the final three months of 2008." Now, WHO was "the decider" during that time? Oh, don't guess! A pic is worth a thousand words, eh, Dondero? Go65, I thought you might enjoy this... Since it's your pic. ;)
Without the government spending, Q2 would have looked pretty bad, it appears — and that spending bubble is nearing its end. I Any positive at all came from President Tarball and Company further raping the taxpayer.
Nancy Pelosi?
(laughing) Right. Great campaign slogan ya got there...
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
This is a political disaster for Democrats. There’s no way to spin a 2.4% GDP rate as a positive step in a recovery. Worse yet, the pattern has been to revise these numbers downwards when Commerce firms up its data. The next statement of Q2 GDP will come on August 27, just before Congress comes back in session and right at the prime time of summer campaign season, just a week before Labor Day. If this drops much lower in the next iteration, Democrats will have to explain the failure of their economic program to angry voters across the nation — and they’re not going to want to hear “It’s Bush’s fault!” two years after electing Obama and four years after giving Nancy Pelosi and Harry Reid control of Congress.
Being a Republicans means you get to choose your own reality
#2. To: no gnu taxes, go65 (#0)
There’s no way to spin a 2.4% GDP rate as a positive step in a recovery.
#3. To: no gnu taxes, go65 (#0)
This is a political disaster for Democrats. There’s no way to spin a 2.4% GDP rate as a positive step in a recovery. Worse yet, the pattern has been to revise these numbers downwards when Commerce firms up its data.
#4. To: war (#2)
Real federal government consumption expenditures and gross investment increased 9.2 percent in the second quarter, compared with an increase of 1.8 percent in the first. National defense increased 7.4 percent, compared with an increase of 0.4 percent. Nondefense increased 13.0 percent, compared with an increase of 5.0 percent. Real state and local government consumption expenditures and gross investment increased 1.3 percent, in contrast to a decrease of 3.8 percent.
#5. To: Capitalist Eric (#3)
Now, WHO was "the decider" during that time?
#6. To: go65 (#1)
As long as the alternative to Democrats is insane Republicans, the Democrats are in pretty good shape.
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