Friday, July 30, 2010

Obama's Epic Failure - GDP Edition #2

Quoting The New York Times:
“The United States economy expanded at an annual rate of 2.4 percent in the second quarter, after expanding a revised 3.7 percent in the previous three months”

[Economic growth has slowed to an anemic pace -- -- click here for the raw data.]

“consumer spending… grew at an annual rate of 1.6 percent in the second quarter, after an annual increase of 1.9 percent in the previous quarter”

[The growth in consumer spending is slowing.]

“The personal savings rate in the second quarter was estimated to have been 6.2 percent of disposable income, significantly higher than the 4 percent that had been estimated.”

[Consumers are saving for that Big Government induced rainy day they KNOW is coming.]

“businesses seem to be investing more in equipment than in hiring… businesses don’t have to pay health care on equipment and software, and these get better tax treatment than you get for hiring people”

[Hey! Dims! Nice work with that job killing ObamaCare tyranny!]

“Government spending shot up more than many anticipated, growing at an annual rate of 4.4 percent”

[As if the Dims had not already grown government spending enough?]

“The nation’s unemployment rate continues to linger just below 10 percent”

[Hey! Dims! Nice work with that job killing “stimulus”!]

“Some forecasters have predicted even slower growth in the second half of the year… At that pace of total G.D.P. growth, it may be years before the economy returns to the trend it was on before the financial crisis hit”

[Given the economy killing policies of the Dims, it doesn’t take a genius to see THAT coming.]

[And, please remember, Dim housing policies were the root cause of the financial crisis.]

“ ‘Given how weak the labor market is, how long we’ve been without real growth, the rest of this year is probably still going to feel like a recession,’ said Prajakta Bhide, a research analyst for the United States economy at Roubini Global Economics.”
To convey the image of all that bleak news, the NYT chose
an image of a shopper with a giant Gucci bag (below).
I guess the NYT is still pimping for Obama’s economic folly.

Click the image & read the rest:
Click the image & read the rest
The NYT has changed the image.
(Old image here, new image here.)
I guess even the NYT found the first image inappropriate.
Not surprisingly, they did not make a note of the change.

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