GDP growth for the last quarter came in at a strong 3.3% — revised upward from initial estimates of 1.9% and beating analysts’ forecasts (stupid things) of 2.7%.
But Joe Biden and Barack Obama would still have you believe that all the “average family” discusses around the dinner table is “how in God’s name” they’re going to possibly make it this month, let alone pay for the kids to go to college.
Last night, Biden said he’d never seen things this bad in America economically. Really? I mean, really?
Now… will Barack live up to his slogans and speak of the hope of this improving economy tonight, or will he give us the same pessimistic view the rest of the Democrats, along with his Veep, share? Because once again, the Democrats have hemmed themselves into a situation where what is bad for America is what is good for them.
August 28th, 2008 at 11:04 am
i’m no Dem, but even a reasonable person has to see that the Q2 GDP is the result of one thing- STIMULUS CHECKS.
the fundamentals are still weak guys, inflation is getting higher and the housing market is still down and the credit crunch and draw on banks is still lurking.
I like the number, but thats not get too carried away about it
August 28th, 2008 at 11:10 am
you dont get 3.3 % from just stimulus checks
August 28th, 2008 at 11:20 am
Well said Mike, anything more than 1% is much more than stimulus checks.
August 28th, 2008 at 11:21 am
“Last night, Biden said he’d never seen things this bad in America economically.”
What a crock. He was around during the mid to late ’70s when things really were bad due to the big government, big spending, over taxation, over regulation of the l965-1980 period. Sustained high inflation, taxes and destructive regulations drained all the capital out of the economy.
August 28th, 2008 at 11:21 am
corep,
The economy is getting stronger — stocks are up today after jobless claims fell more than expected and oil is continuing to drop in price as well. Consumer confidence is up mildly, and the percentage of people who rate their own economic situation as good or excellent is growing as well.
It’s not just the economic stimulus checks.
August 28th, 2008 at 11:22 am
Chris L – exactly. Click on the two links I provided there.
August 28th, 2008 at 11:23 am
Hooverville! – Not.
You don’t generate exports with stimulus checks. You can chock a decent portion of this up to the very weak dollar during the spring.
This is of course good news, shows the economy is still chugging despite all the very real issues that are out there. As Perino said it’s not time for a victory dance though.
August 28th, 2008 at 11:25 am
ok, weak dollar for exports, flood of money from Fed, and checks…real solid stuff…don’t drink too much Kudlow cool aid
August 28th, 2008 at 11:26 am
Reps don’t want to go down this road. You can’t tell people they are not struggling when they are having a hard time making ends meet. Its a dangerous position to say all is good when folks don’t feel good when they leave the supermarket. Kind of like saying “What’s a supermarket scanner”. Voters will vote based on their wallets more than on the media.
August 28th, 2008 at 11:29 am
3.1% of economic growth was due to trade, more specifically, free trade. Exports surged, imports sangged, and the economy grew.
August 28th, 2008 at 11:32 am
Hutchison is out per newsradio KLBJ Austin.
August 28th, 2008 at 11:32 am
Hutchison said not only was she not offered the job, she never really was interested in it in the first place.
August 28th, 2008 at 11:36 am
you guys convinced me! its a combination but the checks didnt hurt.
nyc.indies point is valid. we dont want to say the econ is good, that wont paly well with the 6 neighbors i have who aer short selling their homes cause they lost their higher income jobs
August 28th, 2008 at 11:37 am
I Matt’s point was to try to sell the economy as good, just to point out that Biden and many of us have seen it FAR worse.
August 28th, 2008 at 11:38 am
I don’t think Matt’s point was to say the gop should try to sell the economy as good, just to point out that Biden and many of us have seen it FAR worse.
August 28th, 2008 at 11:48 am
plus you had the perfect strom for a strong export number…weak dollar along with the rest of the world still ok…however, since then, esp the past 6 weeks or so overseas areas have really starting slowing
August 28th, 2008 at 11:49 am
So much of people’s individual perceptions of the economy is tied to the general “public” perception of how the economy is doing. But it is _very_ easy to notice I’m spending over $250/month on gasoline, or that getting into a home is outrageously expensive.
Have things been worse? Of course. But that doesn’t mean we should dismiss the current state and strive to improve things.
August 28th, 2008 at 1:27 pm
most of us 45 and under have no clue what bad economic times are. I remember as a child the late 1970’s and early 1980’s. And even that was nothing compared to things my parents experienced as children in the 30’s and 40’s. We are a bunch of spoiled brats is what we are. Instant gratification or something is wrong.
On top of the economic news, this was on Rasmussen this morning:
War on Terror Update
Confidence in War on Terror and Iraq at Highest Level Ever
If true, Obama is toast.
February 10th, 2009 at 11:12 am
[...] { February 10, 2009 @ 4:12 pm } · { 1st week } { Tags: 2012, Barack Obama, Economic Issues, Improving Economy } There are many issues rising in the issue of Barack Obama bringing the economy back to its status quo… Check out what people are saying about this issue. [...]