Last year, the United States economy fell far short of that normal 3% growth, and the first quarter of 2014 shows the economy is barely hanging on. That first quarter growth was a pathetic 0.1% GDP growth (which would translate into a yearly growth of only 0.4%). That means the economy is very close to slipping back into a recession (even though most Americans have yet to recover from the last recession).
And perhaps most embarrassing for the congressional Republicans is what kept that first quarter GDP from being negative -- Obamacare (the program they have voted to repeal more than 50 times). The increase in government spending due to Obamacare added about 1.1% to the GDP growth in the first quarter -- which means that the GDP growth would have been -1.0% with Obamacare (if the Republicans had been successful in repealing it).
The Republicans seem to be doing everything they can to throw this nation back into a recession (which they would then try to blame on the Democrats). They must be voted out of office in the coming election -- so we can return to a sane economic policy that will spur economic growth and create jobs.
Oh my giddy aunt, perfect Humpty-Dumpty-speak: "When I use a word,' Humpty Dumpty said in rather a scornful tone, 'it means just what I choose it to mean — neither more nor less."
ReplyDeleteSo, the imposition of a tax which is passed to private insurers counts as 'growth'? And the fact that zillions of people have stopped paying because their private deals were cancelled is totally ignored!
You couldn't make it up! 0.1% growth from the mighty US of A after six years of Obama - what a superman!
Why don't you stop lying. There weren't "zillions" of "private deals" cancelled, and you know it. The number of policies cancelled was very small -- and most of those were replaced with better and cheaper policies. And government spending does boost an economy, even though you right-wingers won't admit it -- and that's what happened. In fact, if the Republicans hadn't obstructed everything Obama tried to do, and imposed a ridiculous austerity, the economy would be doing a hell of a lot better.
ReplyDeleteNumbers of Policies cancelled are not small. None were replaced by cheaper policies. Government spending boosts the enconomy only when it creates jobs. This insanity with insurance boosts nothing but the deficit. And I'd sure like to know where this austerity you keep wailing about is. Ive not seen it from either side.
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