Best GDP since 2005; strongest economy in 30 years.

The U.S. grew at 2.9%  GDP  for 2018 and is currently posting 2.5% numbers compared to any year of the Obama Error  (1.6% GDP or "borderline recession" numbers for all - each - of his eight years).

Why the difference?  
30,000 pages of deregulation under Trump and a corporate tax reform similar to that of Bill Clinton's.   Just as Clinton's strategies worked well into the Bush years (through 2006),  The Trump strategies will work well into our future,  today.  In fact,  economists interviewed by Marie Bartiromo (CNN/FoxNews economist) on Monday morning,  tell us that the full effects of the 2017 tax cuts are two years away.   This circumstance will work against any recessionary tendencies.  Of course foreign markets could reverse this trend,  but for now,  our economy looks stable for the next couple of years.    

The goal is to finish the year with a 3% GDP for the first time in more than a decade.

Second-quarter GDP jumps 4.1% for best pace in nearly four years

• Gross domestic product increased 4.1 percent in the second quarter, matching Reuters estimates.
• Strong consumer and business spending as well . . . . . 

Final numbers for 2014's 4Q GDP, after the rush for headlines: The lie: Dems tried to go with a 5% GPD and the "fastest growing economy in more than a decade," -- The truth -- down to 2.4% - a very common "2.4%" (No article . . I am laughing to hard to continue).

Correction:  1 Q was a negative 2.8 GDP.
2Q was 4.3.
3Q was 5.0
4Q was 2.6.

For an average of 2.3 GDP for 2014 and now,  the oil/gas industry is preparing to lay off upwards of 50,000 people,  which will effect 10x that number  (140,000 in Texas alone).

The weakest recovery ever,  facing a collapse in the job market  (70% of all jobs created in the past 6 years have been in fossil fuel related industries) and we have the template for another economic collapse.

Which is it: 7 million jobs created or 3.6 million folks back at work?

<<<  As to GDP and job creation,  this "recovery" is without either.  We discuss "joblessness" in this brief.  

Update:  you should know that last months negative 2% figure for GDP ended the Obama claim to fame for consecutive months of economic growth at 49 months.  The Bush economy has the record of 52 consecutive months of GDP expansion.  

Original content begins here: 

According to the Bureau of Labor Statistics, there were 142,152,000 million people employed in January 2009.  In May 2014, the latest month on record, there were 145,814,000 people employed–an increase of 3,662,000 million.

He brags about 7/8 million jobs created,  since his inauguration.  What he does not bother to tell anyone is this:  his “7 or 8 million jobs created” does not include the number of jobs lost,  during this same period of time,  a critical omission.

Understand that the so-called “recovery” has produced only 3,6662,0oo (million) net jobs,  not 7 to 8 million.  “people employed” and “net jobs created” are terms that deal with the very same circumstance. 

In the end,  we are in the midst of a jobless recovery,  with the lowest percentage of the workforce employed,  since the late 1970’s.  Obama knows this.  Consequently,  all Obama statements presenting the notion of a vibrant recovery,  are as false as a Russian lie. 

Approximately 7 million NET jobs were lost over the years,  many of them  (several million) lost due to the heavy tax and regulation burden of this Administration.  This stat,  the 7 million NET jobs lost,  is not offset with the number’s Obama spouts.  His “7 million” translates to 3.6 million folks put back to work. 

Anyone see the problem?  

Economic News: Turns out the 1st Quarter GDP was far worse that originally reported . . . . 2 points worse, into negative territory; just one quarter away from a declared "2nd recession. "

32 share

Initial report on 1^st Q GDP (2014) was a "plus .3%. 

Second report on 1^st Q GDP  was  a minus  .3%

Amendment to the second report came in at a minus 1%. 

And now,  the bad news about the 1^st Q: 

The government reported that the economy contracted at a 1.0 percent annual rate in the January-March period. But with health care spending data now in hand, economists say growth probably declined at a rate of at least 1.7 percent.  (per CNBC:)

More evidence that the economy is in a failed state per the Obama Administration, itself.

From congressman's Bob Latta's office,  we have this admonition and commentary:

Help House Republicans pass 27 jobs bills

Commentary Posted by Congressman Robert Latta on February 02, 2012

Data reported by POLITICO shows our economy isn't improving. 

• The Federal Reserve has announced it will keep interest rates low through 2014, a sign of its pessimism about the pace of the economic recovery.

Editor's note:  manipulating lower interest rates is an indication of a poor economy,  in and of itself. Healthy or improving economies do not need such "assistance" -  blog editor. 

• The Commerce Department found the nation’s economy grew at a 2.8 percent rate in the fourth quarter of 2011, a faster pace than the rest of the year but worse than expected. If the economic growth slows in the next quarter, it will be tough to keep unemployment down.

Editor's note:  if inventory purchases are excluded from the 4th quarter GDP statement,  the economy grew at the much lesser rate of .07%  -  which is less than a one percent growth rate,  just in case you missed that point  --  blog editor. 

• The Congressional Budget Office projected a wider budget deficit and rising unemployment for the rest of the year, with the jobless rate expanding to 8.9 percent by the end of the year.

• Housing remains a problem. The Case-Shiller index again found that home prices across the country fell 1.3 percent in November from October in its most recent survey. 

Editor's note:  the Case-Shiller Index  is a collection of housing data from 20 designated cities.  In 19 of the the 20,  prices fell,  this November  (the most recent report)  - blog editor

The House is passing bills to spur the economy and help create jobs but the Senate and White House aren't supporting our efforts. Help us pass these bills by contacting your Senator. 

Three years later: Stimulus hasn't worked

Posted by Latta on February 01, 2012

On February 1, 2009, President Obama said when speaking on the economy, “If I don’t have this done in three years, then there’s going to be a one-term proposition.” 

Three years later, the results couldn’t be clearer. The failed policies and broken promises of the President’s trillion-dollar stimulus have made things worse. As the chart below illustrates, the policies of the Obama Administration have left Americans worse off now than before Obama took office. 

Key to reading the above chart:  understand that the first line,  the lower line on the chart,  is one drawn by Christina Romer and  Jared Bernstein sometime during the 2007-2008 season.  You can find the original chart (without the "actual unemployment rate" [red] ) in the embargoed report,  found here.  and dated "January 9, 2009,"  11 days before Obama's inauguration.  

Per this chart,  Obama projected a 6.7% unemployment rate by the end of the 1st quarter of 2012, and the "first quarter" is now.  


Watch for more on this matter,  but I am working on research documenting Obama's effort at dealing with the economy two years before his election.  Romer and Bernstein were must two of several dozen individuals and agencies either working on his "hit the ground running" strategy or being consulted with regards to this effort.  The 787 Stimulus was already written before he was sworn into office.  That is why it took just 27 days to publish the Stimulus and sign it into law - less than a month after taking office. 


Amazing.  Two stinking years of hard work and the Stimulus failed within six months of its passage.  And this guy wants a second term?!!