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US Economy Growing Slower
than White House Predicted

ABC News Radio, by Staff

Original Article

Posted By:Scottyboy, 8/27/2014 3:48:46 PM

(WASHINGTON) -- The U.S. economy has grown just 1.5 percent in the 2014 fiscal year -- far slower than White House projections -- while more than $500 billion of deficit spending was added to the national debt, according to projections released Wednesday by the non-partisan Congressional Budget Office. Just last month the Obama administration forecast 2.6 percent GDP growth in 2014. The CBO had some good economic news, predicting that the GDP will rebound and expand by 3.4 percent over the next two years due to increased demand for goods and services, businesses investments in new structures and equipment, improved consumer spending

Comments:
As expected

      


Post Reply  

Reply 1 - Posted by: BaseballFAn, 8/27/2014 3:53:03 PM     (No. 9983535)

"We own the economy."
-Debbie Wasserman Schultz

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Reply 2 - Posted by: horacer, 8/27/2014 3:57:16 PM     (No. 9983541)

2nd qtr gdp´s first adjustment will be released tomorrow. The 4.0% increase should get knocked down quite a bit.

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Reply 3 - Posted by: DCGIRL, 8/27/2014 4:12:16 PM     (No. 9983563)

#2, I think the 2nd qtr GDP of 4.0% was a fabricated number. I can´t wait to see the revised number.

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Reply 4 - Posted by: avikingman, 8/27/2014 4:28:47 PM     (No. 9983579)

Headline should read "Dog Bites Man".

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Reply 5 - Posted by: Pearson365, 8/27/2014 4:43:20 PM     (No. 9983591)

"... the CBO said growth was stymied partly by “bad weather” during the cold months of spring.

Ah, a severely cold winter followed by cold months of Spring followed by an unusually cool summer in much of the country. Surely all signs of a warming US, which Obama is vowing to unconstitutionally fight with his climate agreement. Who needs economic growth when you can have climate justice.

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Reply 6 - Posted by: Penney, 8/27/2014 4:51:12 PM     (No. 9983599)

U.S. Economic growth worse than predicted? ...The 0bama WH must be doing their dance of joy. s/

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Reply 7 - Posted by: EAJ123, 8/27/2014 5:03:37 PM     (No. 9983617)

Aint that a surprise. Somedthing not as the White House predicted? What´s the matter...where is Valerie Jarret…where´s a lying Obama when you need one?

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Reply 8 - Posted by: KTWO, 8/27/2014 5:11:34 PM     (No. 9983634)

2014 fiscal year ends 10/31/2014 just before the elections. Expect a total lie then, the downward revisions will be made after the voting.

I expect 3rd quarter to be revised down to 2.7% tomorrow; your Crystal Ball may disagree.

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Reply 9 - Posted by: Attila DiMedici, 8/27/2014 5:31:27 PM     (No. 9983667)

No, no, the headline writer misunderstood. The economy is growing exactly as the WH predicted...Yes, yes, I know you have recordings of them saying differently, but those recordings are being taken out of context. /s

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Reply 10 - Posted by: rochow, 8/27/2014 6:11:26 PM     (No. 9983705)

Really??? They must have forgotten to check with the first amateur since his never ending lies tell the opposite!

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Reply 11 - Posted by: bpl40, 8/27/2014 6:25:16 PM     (No. 9983717)

High marginal tax rates. Highest Corporate taxes in the industrialized world. Burgeoning regulatory burden. Superimposed by job killers like 0bamacare and EPA carbon rules.
Plus there is the intensely hostile attitude towards payroll creators - you didn´t build that. The Fed can´t simply throw money and grow jobs in this arid environment. The only jobs being created are government (essentially useless for wealth creation) and part time benefit less positions triggered by 0bamacare.
What we need is a complete regime change.

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Reply 12 - Posted by: FormerNYer, 8/27/2014 6:49:41 PM     (No. 9983730)

I´m shocked!!

I´ll bet the real number is under 2%

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Reply 13 - Posted by: strike3, 8/27/2014 7:22:02 PM     (No. 9983747)

The reality is a six year recession with no signs of ending. I don´t care how they fabricate the numbers.

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Reply 14 - Posted by: lylacat, 8/27/2014 7:29:31 PM     (No. 9983750)

Why isn´t anyone being punished in this administration for all their lies???

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Reply 15 - Posted by: Nashville, 8/27/2014 7:32:45 PM     (No. 9983754)

They only had to revise their 1st quarter
Number down 300%

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Reply 16 - Posted by: comstock, 8/27/2014 8:55:40 PM     (No. 9983800)

Can´t be a real article about the economy - the word "unexpectedly" doesn´t appear. In none of the comments, neither.

This is one sick economy, despite what the government tells you. A number to watch is the inventory levels. Factories are churning out goods to go into warehouses because nobody wants to (or has the money to) buy them.

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Reply 17 - Posted by: oh-heck, 8/27/2014 10:46:17 PM     (No. 9983888)

If you took out quantitative easing and deficit spending, then adjusted for the true rate of inflation (using food and fuel), you´d probably realize the economy contracted.

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