Laissez le bon temps économique à rouler. Par la suite. Peut-être.
Well, we have some more economic “good news”, courtesy of those feckless fools and naive tools calling the shots in DC these days savants managing the US government and economy. We have a revision to last quarter’s GDP growth figures.
Federal economists now estimate that the US economy grew at an annual growth rate of 2% during the period July through September 2015. Since the current quarter is looking about the same, we’re looking at an average growth for the US economy of around 2.2% for the year.
Moreover, this will be the 10th straight year that US economic growth has been below 3% for the year. That means it will be the longest period of sustained slow growth since World War II.
I don’t think I really need to tell anyone who’s been running the show in DC for the last 7 of those years – or which party had the majority in both houses of Congress in 2007 and 2008.
But wait, there’s more!
The US labor participation rate last month was 62.5% . That’s lower than all but two months since October 1977 – which was back during Jimmy “Clueless” Carter’s “wonderful stewardship” of the US economy. And those two months that had a lower US labor participation rate? Those would be September and October of this year, where the labor participation rate clocked in at 62.4%.
We’ve now seen the US labor participation rate at below 63% for 20 consecutive months. You have to go back to the Ford Administration and the post-Vietnam/post-Watergate economic slowdown to see that.
But we must be on the verge of something. The current Administration has raised taxes, and is raising interest rates – things known to retard economic growth. That should certainly keep things from overheating, economically-speaking. Gotta make sure that growth doesn’t spiral out of control!
Yeah, as a nation we’re just doing “oh so well” economically. Thanks for “letting the good times roll”, Mr. President.
Category: "Teh Stoopid", Barack Obama/Joe Biden, Economy, Government Incompetence
Yeah, let a Republican get elected POTUS and from the next day on the DNC Pravda media will be incessantly screeching about how ALL of the Nation’s problems are ALL the GOP’s fault.
You actually expect anyone in the democrap paddock to not blame this on someone besides themselves, right? Who could possibly be more skilled at mucking up everything they touch? They do have a few skills, you see. It’s just that kindergarten-level comprehension of how to run things doesn’t help economic growth.
If you have a chance and want to elevate your blood pressure, Listen to Dear Leaders interview on NPR this morning. I suppose you have to be slightly Narcissistic to be a politician, but he has made it an art form.
Not a chance in hell of that…
I cannot stand hearing his voice anymore, it’s like hearing two cat’s wallering at the dumpster outside of Wayne’s Bar-A-Palooza here in Potail Texas on a Saturday night…
If Wayne’s would stop serving armadillo tacos it wouldn’t have a cat problem…
Too bad the Army didn’t make the change to new uniforms during that quarter. All that money being spent, jobs being created… could have made the difference!
Maybe it’s time to pour sand in the engines of cars and trucks again. Get some consumin’ going on!
At least I have some good news to add to the conversation. Yesterday I received my annual letter from the S. S. explaining there would be no cost of living increase next year because there was no increase in the cost of living in 2015. When I opened it, I had expected it to say Santa Clause was for real and to leave some caviar out for him. Yep, we can always count on gubmint to tell us the truth.