Tag: growth

Categories
Politics

U.S Economy has Strongest Growth in Over a Decade

The U.S. economy posted its strongest growth in more than a decade during the third quarter, supported by robust consumer spending and business investment, the Wall Street Journal reports.

Gross domestic product, the broadest measure of goods and services produced across the economy, grew at a seasonally adjusted annual rate of 5.0% in the third quarter, theCommerce Department said Tuesday. That was up from the second quarter’s growth rate of 4.6% and the strongest pace since the third quarter of 2003.

The agency last month had estimated third-quarter GDP growth at 3.9%. Economists surveyed by The Wall Street Journal had expected a smaller upward revision, to 4.3% growth.

Tuesday’s report upgraded estimates for fixed nonresidential investment, a proxy for business spending, and personal spending, especially on services like health care.

Categories
Politics The Budget weekly address

President’s Weekly Address – Obama’s Budget Is For You. There’s For The 1 Percent

In this week’s address, the President highlighted the important differences between the budget he’s put forward – built on opportunity for all – and the budget House Republicans are advocating for, which stacks the deck against the middle class.

Categories
Politics

Obama Great For The Economy – 48 Months of Job Growth

We hear a lot about this fictional liberal land under President Obama, where job creation was killed by Obamacare and liberal ideas have destroyed the country. Reality, of course, is quite different. In fact, reality is almost the exact opposite. For Bush’s entire 8 years, job growth was just 1.1 million. Yet under Obama, the private sector has had 48 straight months of job growth, with businesses adding 8.7 million jobs.

Today’s job numbers are a good example of the disconnect. “Nonfarm payroll employment rose by 175,000 in February, and the unemployment rate, at 6.7 percent, changed little,” per Erica L. Groshen, the Commissioner of the Bureau of Labor Statistics.

Jason Furman, Chairman of the Council of Economic Advisers, put these numbers in perspective in a statement in which he explained that February was the 48th straight month of private sector job growth, “February 2014 was the 48th straight month of private-sector job growth, with businesses adding 8.7 million jobs over that time.”

Exit mobile version