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Big Losers in GDP Report: Democrats
Bloomberg, by Megan McArdle

Original Article

Posted By:garnet, 6/26/2014 8:59:04 AM

You can sum up today’s report on first-quarter gross domestic product in one short word: oof. The last estimate had GDP shrinking slightly from the prior quarter. The current estimate has it shrinking a lot: 2.9 percent on an annualized basis. If this keeps up for another quarter, the economy will officially be in recession. How did this happen? The White House line is that this was driven mostly by health care and net exports. But treat those figures carefully -- which is what I’ve seen a lot of people on Twitter not doing. Health-care spending is a major factor in the downward

      


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Reply 1 - Posted by: NorthernDog, 6/26/2014 9:09:07 AM     (No. 9900386)

Don´t worry. They´ll juggle the numbers enough to make Q2 look positive. Q3 results can be stalled and delayed until after the mid-term election. In the meantime, the American people are negatively affected by those bad numbers, but no one seems to take notice.

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Reply 2 - Posted by: JHBoatwright, 6/26/2014 9:24:21 AM     (No. 9900406)

There are not enough folks in the Won´t-Work-Voter class to care what the letters GDP refer to, nor are they interested in finding out.
As long as their new 0bamaCellPhone appears every day, week, or month, why worry?

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Reply 3 - Posted by: horacer, 6/26/2014 9:27:53 AM     (No. 9900409)

GDP has never fallen this sharply unless we were in or entering a recession. Consumer spending has disappointed this quarter, durable goods shrunk in May. Energy prices are going to remain high. The Obama economy continues.

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Big Losers in GDP Report: Democrats
Bloomberg, by Megan McArdle    Original Article
Posted By: garnet- 6/26/2014 8:59:04 AM     Post Reply
You can sum up today’s report on first-quarter gross domestic product in one short word: oof. The last estimate had GDP shrinking slightly from the prior quarter. The current estimate has it shrinking a lot: 2.9 percent on an annualized basis. If this keeps up for another quarter, the economy will officially be in recession. How did this happen? The White House line is that this was driven mostly by health care and net exports. But treat those figures carefully -- which is what I’ve seen a lot of people on Twitter not doing. Health-care spending is a major factor in the downward

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Posted By: garnet- 6/22/2014 10:20:16 AM     Post Reply
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