Economic Growth: GDP Estimate for First Quarter Was Too High

Chuck1:32 PM Jun 25, 2010
The eye opener is that he economy has expanded for three straight quarters after four down quarters.
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No, the eye opener is that unemployment is still nearly 10%. Kind of dispells your claim doesn't it?...

These are the same people that say if the Government spends more money it will reduce the deficit! Right!!!!

The economy is expanding, but not as quickly as some of you screwballs think it should. The unemployment figures are starting to go DOWN, not like the Bush years-------have you forgotten 300,000 layoffs a month, then 400,000, then on and on up to 700,000
Have you forgotten who got us into this mess------the worst financial meltdown since the Great Depression? It was bush. Now say it slowly and put all the letters together so that you will not forget it B----U---S---H

You see more & more of this kind of stuff happening. Figures come out that make Obama look like he's doing something....he racks up all kinds of credit and then a couple months later we are told the truth and it turns out the figures weren't what we were told. This happened with the GDP, unemployment, jobs created/saved, etc. It's to the point you can't believe anything the Government says anymore.

Every time Obama or Biden gives a speech about how we are turning the corner using data, that data ends up being inflated. The number of jobs created by the stimulus bill that they trumpeted was also revealed to be a farce. They gave plenty of speeches about sales of cars during Cash for Clunkers, but failed to follow up with the huge drop in sales once our tax dollars were no longer subsidizing it. Same with the home ownership plan. Lots of speeches about how our tax dollars were saving people from foreclosure, but nothing about how 441,000 of those mortgages were foreclosed on even after we poured so much money into it. Businesses are not going to create jobs or invest as long as they have the expense of higher Obamacare costs and higher costs for possible Cap and Trade legislation and higher taxes hanging over their heads. Obama can't create jobs (other than government jobs and he's created plenty of those for us to support) but he can create an environment that is friendly to private sector growth and he has done exactly the opposite. Until that changes, the unemployment rate will remain high and growth in GDP slow.

It seems every adjustment made to prior statistics is made downward. Is this normal, or an attempt to fool somebody? We who live in the "real" world, and not in our State and Federal Gov't cushy confines, might not know the numbers, but we sure know what it feels like.

An article of great interest to all: Google froma harrop and click on her article about government pensions............it is an eye opener, folks.

With more than 4 million jobs lost since 2009 , is this really a suprize?

GDP Estimate for First Quarter Was Too High. Imagine that.