3 results for tag: Economy


Economy recovery plagued by recession-era GDP

Buried under reports about IRS emails, Middle East turbulence, election results and soccer games this morning, was another dread-inducing headline. The U.S. economy collapsed in the first quarter of 2014. The Commerce Department announced [1] Wednesday that gross domestic product fell at a 2.9 percent annual rate, marking the steepest decline of the last five years. It’s the worst GDP performance since the Great Recession hit directly after the financial crisis.  Only this time, there’s no preceding financial catastrophe to blame. Some economists are pointing the severe winter weather much of the country experienced this winter. Others ...

Obama’s policies hurt the middle class

When President Obama wasn’t cracking jokes with the White House press corps this weekend, he was busy explaining how he plans to act on his own to “create more jobs and opportunity for hardworking families.” It seems threats of unconstitutional execution action to circumvent Congress are just all in a day’s work for President Obama. In his weekly address[1] to the nation on Saturday, the president took things a step further by saying, “[W]e could do a lot more if Republicans in Congress were less interested in stacking the deck in favor of those at the top, and more interested in growing the economy for everybody.[…] They’ve now voted ...

Obama’s economy

So this … this … is hope and change. This week, the Commerce Department released[1] its first-quarter estimate for GDP growth. The news was about as dismal as it gets: 0.1 percent, down from 2.6 percent last quarter. In other words, economic growth in the first three months of 2014 was barely discernable, if at all.  It’s also the second-worst quarterly performance since the supposed end of the recession in mid-2009. There are a number of factors that go into producing and assessing the GDP growth rate. The first three months of 2014 saw particularly harsh weather throughout the entire country; we know that has at least some impact on ...