It's not Barry's Fault!! Never..........

[JustRalph]

http://thefederalist.com/2014/06/25/...lt-but-obamas/

The Economy Tanked Last Quarter And It’s Everybody’s Fault But Obama’s
JUNE 25, 2014 By Sean Davis

"The U.S. economy shrank at an annual rate of 2.9 percent during the first three months of 2014, government bean counters announced this morning. That matches the worst non-recession contraction of the U.S. economy in over 40 years.

Each quarter, the government releases three sets of numbers gauging the size of the U.S. economy: preliminary, revised, and final. Today’s numbers were the final version. This is important, because the numbers drastically changed throughout the process, as did the liberal spin about the economy. The preliminary numbers, released at the end of April, suggested that the economy barely chugged along during the first quarter, growing at a meager rate of 0.1 percent."

This is the 4th recovery summer in a row~!!!!!!

[johnhannibalsmith]

Headline was much too premature. Even Arianaville sorta disagrees with them.

Obamacare is going to have to return its hero's cape, and we're all going to have to learn to think twice before we over-react to shaky economic data.

Two months ago, President Barack Obama's signature health-care reform law was widely credited with saving the U.S. economy from shrinking in the first quarter by giving a huge jolt to health-care spending. On Wednesday, we found out that had all been a mirage.

Using more-solid data than it had two months ago, the U.S. Bureau of Economic Analysis found that health spending actually shrank in the first quarter, weakening overall consumer spending and contributing to a terrible quarter for the broader economy. Gross domestic product shrank at a 2.9 percent annualized rate in the quarter, the worst since the depths of the Great Recession, with health spending alone shaving 0.16 percentage points from growth.

http://www.huffingtonpost.com/2014/0...usaolp00000592

[FantasticDan]

Plenty of articles out there explaining the "shrinkage", and why it's not reflective of the overall economy's health.

WARNING: Neither of the following articles linked regarding the 2014 economy are prefaced with a huge picture of Obama when he was a college freshman in 1980. I know, right?

http://abcnews.go.com/Business/wireS...te-q1-24295320

Though such a sharp decline would typically stoke fears of another recession, analysts see it as a short-lived result of winter storms that shut factories, disrupted shipping and kept Americans away from shopping malls and auto dealerships. They say the economy is rebounding in the April-June quarter. Many expect growth to reach a robust annual rate of at least 3.5 percent this quarter.

http://www.bloomberg.com/news/2014-0...ive-years.html

Consumers returned to stores and car dealerships, companies placed more orders for equipment and manufacturing picked up as temperatures warmed, indicating the early-year setback was temporary. Combined with more job gains, such data underscore the view of Federal Reserve policy makers that the economy is improving and in less need of monetary stimulus.

The first-quarter slump is “not really reflective of fundamentals,” said Sam Coffin, an economist at UBS Securities LLC in New York and the best forecaster of GDP in the last two years, according to data compiled by Bloomberg. “For the second quarter, we’ll see some weather rebound and a return to more normal activity after that long winter.”

[Marshall Bennett]

And I suppose there weren't any winters when Bush was president.
Liberals will dig up any excuse they can for their losers, even one as pathetic as Obama.

[FantasticDan]

Yep, the economists comments in those articles are all liberal losers. I mean, I just know they are, I can smell it on 'em.

[Tom]

They small alright.
The smell is coming down from atop that 17 trillion dollar debt mountain they built.

Maybe some of the smell is that record number of food stamps out there in the summer heat.

Yeah, we's doin jus' fine.

[PaceAdvantage]

Originally Posted by FantasticDan

Yep, the economists comments in those articles are all liberal losers. I mean, I just know they are, I can smell it on 'em.

It is interesting how there is always an excuse that somehow lets Obama off the hook. That's fine.

We really don't want him responsible for much anyway...

[Clocker]

Originally Posted by PaceAdvantage

We really don't want him responsible for much anyway...

Not to worry. He has shown no responsibility in his life to date. He is unlikely to change in the future.

[NJ Stinks]

Originally Posted by PaceAdvantage

It is interesting how there is always an excuse that somehow lets Obama off the hook....

Yea, this "excuse" sure is lame.
_____________________________

Is This The Worst Winter Ever? Here’s A Look At New York City Snowfall Data [CHARTS]

By Lisa Mahapatra@lisamahapatra
on February 28 2014 1:47 PM


With 57 inches of snowfall in New York City so far, this is officially one of the coldest, snowiest winters in the past 150 years or so, according to the National Weather Service, which has snowfall records in Central Park dating back to 1869.

The last New York City winter that had a comparable amount of snowfall -- 62 inches -- was in 2010-11, when then-mayor Michael Bloomberg received quite a bit of criticism for not handling the winter snow adequately.

There’s still more than a month of winter left, and it’s quite possible that the winter of 2013-14 might surpass that of 2010-11.

The snowiest winter on record, ever, was the winter of 1995-96, when more than 75 inches of snow fell in Central Park.

________________________

More at the link including historical charts of annual snowfall in Central Park:

http://www.ibtimes.com/worst-winter-...charts-1558615

[iceknight]

I am surprised that the computers at U.S. Bureau of Economic Analysis did not crash before the revised data was analyzed.

[burnsy]

I 'm an economist. I told you politicking goof balls that this will last for years......long after King Obama leaves too. You were all warned like 25 years ago.........now we are reaping the "rewards" of our policies. It will eventually come back...maybe. There's nothing they can do about it now even if Moses got elected. Its an adjustment or rebuilding stage. Part of the debt is these people trying to prop things up so people don't really get agitated. They won't accept bread lines and riots. Pissing money away on what other countries are dealing with, doesn't help either. When will people wake up and realize its all of our fault for going along with it. If "fault" is what people want. We wanted world, free trade and an open "world" economy.....we got it in spades. Now we have to compete or get off the pot....no crybabies...... Why do you think the Obamas and Romney's run? People with half a brain want no part of that mess. The people most qualified...run from that garbage. They can do better elsewhere.

[PaceAdvantage]

Originally Posted by NJ Stinks

Yea, this "excuse" sure is lame.
_____________________________

Is This The Worst Winter Ever? Here’s A Look At New York City Snowfall Data [CHARTS]

By Lisa Mahapatra@lisamahapatra
on February 28 2014 1:47 PM


With 57 inches of snowfall in New York City so far, this is officially one of the coldest, snowiest winters in the past 150 years or so, according to the National Weather Service, which has snowfall records in Central Park dating back to 1869.

The last New York City winter that had a comparable amount of snowfall -- 62 inches -- was in 2010-11, when then-mayor Michael Bloomberg received quite a bit of criticism for not handling the winter snow adequately.

There’s still more than a month of winter left, and it’s quite possible that the winter of 2013-14 might surpass that of 2010-11.

The snowiest winter on record, ever, was the winter of 1995-96, when more than 75 inches of snow fell in Central Park.

________________________

More at the link including historical charts of annual snowfall in Central Park:

http://www.ibtimes.com/worst-winter-...charts-1558615

Must have been some humdingers during the Carter years....

[classhandicapper]

I just read a great analysis on the impact of the weather on GDP in an investment newsletter I subscribe to.

The gist of it was that the weather did impact first quarter GDP. However, if you look at all the other severe winters, the impact of the weather in those periods was never strong enough to explain this bad GDP data by itself. So the conclusion is that economy is very weak on its own and the weather made it even worse.

The other thing it noted is that the pent up demand from delayed activity due to weather tends to cause a temporary spike in the following quarter or two. So if we get a strong 2nd and 3rd quarter report, it will be overstating the underlying health. If we barely get a positive 2nd quarter, that would mean the economy is probably actually in a recession.

[Tom]

57 inches?
62 inches?


Pardon me.....

We call that FLURRIES around here.

[Robert Goren]

Conservatives want blame Obama for the winter drop in GDP. That is fine if they will give him credit when GDP rebounds in the second and third quarters. I suspect the Astros will win a world series before that happens though.