“It’s the High Taxes and Over-Regulation, Stupid.”
Well, new figures for US economic growth are out. And it turns out last quarter was not a good one.
The US economy’s annualized real growth rate for the first quarter of this year? Try a whopping 0.5%. Yes, that’s a ZERO to the left of the decimal point. And yes, that’s the annualized growth rate.
That’s the slowest quarterly annualized real growth rate we’ve seen for the US economy in 2 years.
The US economic real growth rate was so low last quarter, it was nearly 30% less than expected. And it was only expected, based on midpoint projections, to be 0.7% – which is itself abysmally bad. It also marked the third straight year with a p!ss-poor beginning, economic-growth wise.
This follows on the heels of a rather anemic fourth quarter of last year. During that quarter, in real terms the US economy grew at a “massive” 1.4% annualized rate.
It seems a cinch to say that we won’t see 3% real growth this year overall. So far, the current gang of economic idiots screwing things up by-the-numbers in DC Administration has yet to see a single year with US real economic growth at or above an annual rate of 3%. That makes the Obama Administration the first US Presidential Administration in history to fail to deliver even a single year of 3% growth. In fact, if the economic growth rate for this year doesn’t reach 2.67% (kinda doubtful at this point IMO), the Obama Administration will be the fourth-worst Administration in US history, economically speaking.
If current projections hold, the 8 year average for US economic growth under this gaggle of economically naïve tools Administration will be around 1.55% – if they’re lucky. If the economy doesn’t improve dramatically with respect to last quarter during the rest of this year, they won’t even see that.
When the US economy doesn’t grow, well, thinks kinda suck for everyone. For comparison, during the Reagan Administration, the 8 year AVERAGE for real economic growth was 3.5% per year. Gee – ya think maybe that had something to do with why it’s perceived as “good times”, economically speaking?
Predictably, the POTUS doesn’t appear to have a clue why the economy is growing so slowly, and keeps touting “low unemployment”. Well, Mr. President, let me provide you a clue or two – free.
Here’s yer first clue. The unemployment rate is dropping for two reasons. First, it’s dropping because people who want to work are becoming discouraged and ceasing to look for work. And second, your inane policies regarding social welfare programs have removed many consequences for doing so. Here’s one example: you still haven’t reinstated Clintoon’s work requirements for SNAP (AKA food stamps) eligibility since you suspended them in 2009.
When a recovery begins, the economy starts consistently growing again at a strong rate – typically a real annual growth rate of 3% or higher. When that happens, people will start looking for work again – which means the unemployment rate will spike. And the labor participation rate, a much better overall measure of economic health than unemployment, will start to rise consistently.
Right now, we’re still in Carter Administration territory on the latter. And since we haven’t seen a spike in unemployment yet, any claims that we’re “in an economic recovery” today . . . are bullsh!t.
Now, for the second clue. Regarding why the economy isn’t growing – see the title of this article. Have someone explain it to you if you don’t “get it”.
Sheesh. I will be so damn glad to see someone with a freaking clue about the economy running the show in DC. At least Slick Willie seemed to know his butt from a hole in the ground there.
Category: "The Floggings Will Continue Until Morale Improves", "Your Tax Dollars At Work", Barack Obama/Joe Biden, Economy, Government Incompetence
Well all the folks are starting to cash out because they fear what’s next the last 7 years have been a golden age for our financial industry here in America. To think Lars and company believes Dems care ???. NOT !!!!!!!
Lars is demonstrably a fucking idiot.
word ^^^^
The Poodle doesn’t have a clue about real economics and a true market economy, but if he manages to show up here he will let us all know how a socialist economy is SO much better than capitalism.
I think you just proved TOW’s assertion, Ex-PH2. (smile)
Well, if you recall, Hondo, the British economy under Elizabeth I flourished because she was smart enough to recognize that a rising middle class supports a healthy economy. And she demanded that her court wear as much jewelry as they could get their hands on, to present an appearance of a strong and prosperous economy to foreign governments.
There were two things that were included in British law, and this is simplifying it: nobody really went hungry and everyone wore wool, and sumptuary taxes allowed the rising middle class to wear gold instead of silver and pewter. A lot of them were willing to pay that tax, you see, and it worked quite well for them. It also allowed England to look even more prosperous to its competitors.
While the Spanish were grubbing around for gold, because their government was starved for it, the English were acquiring land and colonies, and exporting criminals (read Defoe’s ‘Moll Flanders’) to those colonies, where many of them became quite successful. And taxes went flowing back to the English throne.
Sorry, I forgot to say ‘thanks’! My bad.
The Portuguese and Spaniards didn’t just look for gold, they too acquired colonies… or, rather, conquered territories. Gold was not the only item that came from these colonies, other valuables and resources also flowed out. So much wealth was flowing to Iberian Peninsula that England and other kingdoms raided Spanish shipping in order to acquire this wealth for themselves.
Even the English were grubbing around for gold. In the agreement between the representative of the crown, and the first colonial/corporate ventures, there was a portion in the agreement/contract that gave the monarchy a cut of any gold and similar resources dug up from the land.
Developing the lands alone was not enough to generate wealth from other countries. Once England and other kingdoms acquired colonies, the kingdoms drifted toward an agreement that trading between the different colonies, and colonies and mother kingdoms, was more beneficial to those involved with this trade. This led to the initial initiatives to raid competing nations shipping to be frowned upon, even policed on by the mother kingdoms.
Those that continued engaging in pirating against other shipping and colonies were seen as pirates. This opened up another issue that the colonizing kingdoms and colonial governments had to deal with.
Because of England’s proximity to the European content, and the North American colonies proximity to England and Europe, the free market philosophy that developed in England, took hold in the English colonies and led to the philosophy that advocates for a true market.
A major contribution by Queen Elizabeth to economic growth was ordering the melting-down of the badly-debased coins of her realm from prior reigns, and the re-coninage of high-purity money.
When the local money is sound, the local economy tends to be sound. If the currency is untrustworthy, so goes the economy.
Yet time and again, “geniuses” think they can get away with debasing currency. Maybe a little bit for a little while, but not for long.
word again ^^^^^
Thank You… Hondo
If you want to make a killing try buying defaults the health insurance industry is going down and quick
Within the next 3-5 years max we are going to be told we have to bail them out watch wait and see
Yeah, just mention rolling back and/or repealing all of the excessive taxes and regulations and you’ll hear the libtard media and its moonbat minions bawling about how the political Right wants to take food from the moths of children, poison the air, water and soil,… DON’T get me wrong, there are MOUNTAINS of shitty and senseless regs that need to go away for good, I’m simply predicting the left’s kneejerk bleeding-heart response.
This idjit cannot be re-elected.
Let’s just be grateful for small things.
Consider-Bernie is eliminated, Hillary is indicted and the Dems turn to Michelle at their convention. The media does its usual attack dog act on the Republican nominee and the Obamas stay right where they are for the next 4 years.
Oh, stop being such a cynic. The democraps can come up with someone better than that old cow at any time.
If they want to keep Obama there is a way is all I am saying.
Well, they could have him stuffed.
I really do not think he gives enough of a crap about any of it to stick around or boost that wife of his into the office. I’ve seen how little interest he has, even in Chicago, and in doing anything more than being a gladhanding sack of shit who gets to be on TV a lot.
I think you guys put far too much weight on his interest in that spot. I am willing to bet that he doesn’t even stick around for the next inauguration.
No, he can’t legally be re-elected, but there are ways he can stay where he is. Pray we have elections like normal this year.
If a Republican wins the Presidential election, the MSM will begin to report the poor performance of the economy within 10 minutes of the new President taking the oath of office and the blame will be immediately hung on the new president, with multiple references to Bush as the primary cause. Odumba will disappear from all economic discussions as though he didn’t exist.
10 minutes? I’m sure they’ll start blaming trump before he even gets inaugurated. I can see the MSM’d libidiot minions “documenting” a la Dan Rather how Trump and other rich businesspeople have been manipulating things to make B. Hussein 0bama & Company’s efforts fail because they’re *whisper* “rayccciissst”.
Yep. We’ll then hear about many things that haven’t been reported in years and years. I used to enjoy the disappearance of the poor and the tent cities every time a D was elected and their reappearance every time an R took the WH. Notice that there are few medical horror stories any longer. oBaMacare must have worked, right? Doctors are happy. Patients are happy. Premium are at a low. Everyone is so hap-hap-happy.
My guess is they cooked the books to even get this much. They don’t want a negative growth rate right before the election. We’ve seen them revise estimates downward. It wouldn’t surprise me to see this revised down once the news cycle is on something else.
Yeah. Communists have a long history of cooking the books.
I believe nothing that this administration or the msm says. Nothing.
350 Obama accomplishments.
The Obama legacy will endure. You people have no ability to recognize the humility of his achievements.
Why, a short review of his accomplishments makes the modest blush.
Pass the Koolaid you gun nutz, all this hope and change is here to stay (in the history books anyway)
http://pleasecutthecrap.com/obama-accomplishments/
http://www.tradingeconomics.com/united-states/corporate-tax-rate
I’m no tax expert, but the chart says the tax rate indicated is based on the amount of income of the company being taxed. Therefore, the chart would seem to indicate that the lower tax rate is indicative of lower corporation income?
Larsie, do you spit the liberal dick out of your mouth before you go to sleep, or do you just use it as a pacifier?
I wonder if Commissar’s ass gets jealous of the amount of shit that comes out of his head and mouth?
He’s too busy jerking off to pictures of John Kerry.