U.S. economy picks up speed

http://money.cnn.com/2014/11/25/news/economy/gdp-report/index.html?hpt=hp_t3
U.S. economy picks up speed
By Chris Isidore @CNNMoney November 25, 2014: 10:57 AM ET
The U.S. economy grew at a faster pace in the third quarter than originally reported, another sign that the recovery is picking up speed.
Gross domestic product, the broadest measure of the nation's economic health, was revised up to 3.9% in the July through September period. Economists had expected the growth rate to be cut from the original 3.5% reading. Both consumer spending and business investment showed greater strength.
Growth in the third quarter was slower than the previous quarter's rate of 4.6%, but that was a rebound from a steep first quarter decline that was blamed bad weather. The combined growth in the second and third quarters represented the best six months for the economy since 2003.
The strength of the economy has been evident in other closely watched measures as well, including a gain in hiring and a corresponding decline in the unemployment rate, record levels for U.S. stocks, strong auto sales and continued gains in home prices.
"We're moving forward at a fairly steady pace," said Keith Hembre, chief economist at Nuveen Asset Management. And the U.S. is outpacing many other major economies in Europe and Asia.
But despite the signs of improvement, many Americans remained worried about the economy and their personal economic outlook. Hembre said that disconnect is because a large percentage of the public has yet to benefit from the recovery.
Disposable personal income is only up 2.3%, according to Tuesday's report, and was revised lower. Meanwhile Hembre points out that the report shows that corporate profits accounted for more than 10% of the nation's GDP, near the record high reached late last year

I'm sure we'll see this report on fox newz, right after the complete report on Benghazi.
😉

Nothing is going to bump Ferguson off the air right now. It would have to be big.
Maybe a Sarah Palin news conference?

Yes, the economy is picking up. I know that I certainly feel it as one who lives on his pension and disability; however, I contribute it more to the engines of Capitalism and Free markets than anything else.

posted on 11/25/2014 at 22:04
I'm sure we'll see this report on fox newz, right after the complete report on Benghazi.
I get a kick out of all you left wingers that think fox news is the problem
You mean fox news , the only station that covers the lies that Goober Gruber has admitted
A video right from the horse’s mouth. Calling American voters stupid and that a lack of transparency
Is a political advantage to the Obama administration
Where it has been a virtual blackout from ABC, NBC and CBS
The only station that has mentioned that 30,000 emails from Lois Lerner have been uncovered and the IRS didn’t really look for them.
Where it has been a virtual blackout from ABC, NBC and CBS
You mean fox news that has covered Obama saying 22 times that it would be unlawful for him to
To give amnesty to illegal aliens then did it
Where it has been a virtual blackout from ABC, NBC and CBS
Oh and by the way the Benghazi story isn’t over yet and the president did cover it up-
For political reasons.
It is amazing how much the left has become a bunch of fascist

posted on 11/25/2014 at 22:04
I'm sure we'll see this report on fox newz, right after the complete report on Benghazi.
I get a kick out of all you left wingers that think fox news is the problem
You mean fox news , the only station that covers the lies that Goober Gruber has admitted
A video right from the horse’s mouth. Calling American voters stupid and that a lack of transparency
Is a political advantage to the Obama administration
Where it has been a virtual blackout from ABC, NBC and CBS
The only station that has mentioned that 30,000 emails from Lois Lerner have been uncovered and the IRS didn’t really look for them.
Where it has been a virtual blackout from ABC, NBC and CBSYou mean fox news that has covered Obama saying 22 times that it would be unlawful for him to
To give amnesty to illegal aliens then did it
Where it has been a virtual blackout from ABC, NBC and CBS
Oh and by the way the Benghazi story isn’t over yet and the president did cover it up-
For political reasons.It is amazing how much the left has become a bunch of fascist
what does that have to do with an improving economy?

posted on 11/25/2014 at 22:04
I'm sure we'll see this report on fox newz, right after the complete report on Benghazi.
I get a kick out of all you left wingers that think fox news is the problem
You mean fox news , the only station that covers the lies that Goober Gruber has admitted
A video right from the horse’s mouth. Calling American voters stupid and that a lack of transparency
Is a political advantage to the Obama administration
Where it has been a virtual blackout from ABC, NBC and CBS
The only station that has mentioned that 30,000 emails from Lois Lerner have been uncovered and the IRS didn’t really look for them.
Where it has been a virtual blackout from ABC, NBC and CBSYou mean fox news that has covered Obama saying 22 times that it would be unlawful for him to
To give amnesty to illegal aliens then did it
Where it has been a virtual blackout from ABC, NBC and CBS
Oh and by the way the Benghazi story isn’t over yet and the president did cover it up-
For political reasons.It is amazing how much the left has become a bunch of fascist
Blah blah blah LIBERALS blah blah blah AMNESTY blah blah blah BENGHAZI blah blah blah.
It is amazing how much the right still likes to keep repeating the same scripted talking points over an over and over and over until they are able to convince themselves that they are true despite the bare naked facts that say otherwise.
what does that have to do with an improving economy?
Not a thing of course, but that is the point. Obfuscate, confuse, distract.
[Edited on 11/26/2014 by gondicar]

I'm happy the economy looks to be improving. That's good for everybody.
But now that the topic has touched on other matters, isn't it also best for everybody if government wrongdoing is uncovered and cleaned up where it exists? There's always room for improvement.
[Edited on 11/26/2014 by alloak41]

I'm happy the economy looks to be improving. That's good for everybody.
But now that the topic has touched on other matters, isn't it also best for everybody if government wrongdoing is uncovered and cleaned up where it exists? There's always room for improvement.
In other words, let's keep changing the subject to Obamacare, Amnesty and Benghazi at every opportunity because nothing else matters.

I'm happy the economy looks to be improving. That's good for everybody.
But now that the topic has touched on other matters, isn't it also best for everybody if government wrongdoing is uncovered and cleaned up where it exists? There's always room for improvement.
[Edited on 11/26/2014 by alloak41]
those things happen with every administration and yes there is always room for improvement. but things are pretty good and getting better, its time for people to enjoy life for a little while and not worry about things they cannot control.

Yes, the economy is picking up. I know that I certainly feel it as one who lives on his pension and disability; however, I contribute it more to the engines of Capitalism and Free markets than anything else.
Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.

just remember there will be a 10% or so correction next year, probably around june.

Yes, the economy is picking up. I know that I certainly feel it as one who lives on his pension and disability; however, I contribute it more to the engines of Capitalism and Free markets than anything else.
Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
Wrong, wrong and wrong. If McCain had been elected, recession would have become depression and we'd still be digging out of an even deeper hole.

Yes, the economy is picking up. I know that I certainly feel it as one who lives on his pension and disability; however, I contribute it more to the engines of Capitalism and Free markets than anything else.
Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
Another in a line of negative & bitter posts that we've come to expect out of you. The pattern is predictable & repeats.

It is amusing to read the bitter conservatives posts here when the country is improving under Obama. If things go wrong it is his fault and if things actually get better his administration had nothing to do with the improvements.
It would be fascinating to really understand what is behind this illogical hatred some on this forum have for the man considering how he has actually managed to turn things around despite the sh*t sandwich Bush handed him and the total GOP obstructionism he had to deal with this past 6 years.

Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
I'm so sorry for your bitterness. I hope you are able to put it aside for the holiday.
"you can only hold the U.S. economy down for so long..."
Yeah. It had nothing to do with Bush Administration policies. It wasn't like he turned a surplus into the largest deficit in the history of the world.

Yes, the economy is picking up. I know that I certainly feel it as one who lives on his pension and disability; however, I contribute it more to the engines of Capitalism and Free markets than anything else.
Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
Actually it is true.
Really? And what in your opinion did Obama do to hold back the growth of the economy?

Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
I'm so sorry for your bitterness. I hope you are able to put it aside for the holiday.
"you can only hold the U.S. economy down for so long..."
Yeah. It had nothing to do with Bush Administration policies. It wasn't like he turned a surplus into the largest deficit in the history of the world.
The deficit did not cause the banking system to be poisoned by toxic subprime loans.

Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
I'm so sorry for your bitterness. I hope you are able to put it aside for the holiday.
"you can only hold the U.S. economy down for so long..."
Yeah. It had nothing to do with Bush Administration policies. It wasn't like he turned a surplus into the largest deficit in the history of the world.
The deficit did not cause the banking system to be poisoned by toxic subprime loans.
Right, everything that happens in the world has one, and only one, cause.

Yes, the economy is picking up. I know that I certainly feel it as one who lives on his pension and disability; however, I contribute it more to the engines of Capitalism and Free markets than anything else.
Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
Wrong, wrong and wrong. If McCain had been elected, recession would have become depression and we'd still be digging out of an even deeper hole.
Interesting perspective. I'm no McCain fan by any stretch, but exactly what would he have done to drag us into a depression?

Yes, the economy is picking up. I know that I certainly feel it as one who lives on his pension and disability; however, I contribute it more to the engines of Capitalism and Free markets than anything else.
Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
Wrong, wrong and wrong. If McCain had been elected, recession would have become depression and we'd still be digging out of an even deeper hole.
Interesting perspective. I'm no McCain fan by any stretch, but exactly what would he have done to drag us into a depression?
We would still be fighting 2 wars, maybe 3.........

Yes, the economy is picking up. I know that I certainly feel it as one who lives on his pension and disability; however, I contribute it more to the engines of Capitalism and Free markets than anything else.
Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
Wrong, wrong and wrong. If McCain had been elected, recession would have become depression and we'd still be digging out of an even deeper hole.
Interesting perspective. I'm no McCain fan by any stretch, but exactly what would he have done to drag us into a depression?
We would still be fighting 2 wars, maybe 3.........
And we'd probably have bombed Russia by now.

Yes, the economy is picking up. I know that I certainly feel it as one who lives on his pension and disability; however, I contribute it more to the engines of Capitalism and Free markets than anything else.
Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
Wrong, wrong and wrong. If McCain had been elected, recession would have become depression and we'd still be digging out of an even deeper hole.
Absolute total nonsense.

Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
I'm so sorry for your bitterness. I hope you are able to put it aside for the holiday.
"you can only hold the U.S. economy down for so long..."
Yeah. It had nothing to do with Bush Administration policies. It wasn't like he turned a surplus into the largest deficit in the history of the world.
Amazing how I report a simple truth which is that a sputtering recovery of 2 or less percent growth is scarcely a recovery at all, nowhere NEAR enough to make up for and move past the recession. The simple truth that this is the weakest recovery in 70 years. The simple truth that Obama anti-growth policies have retarded the recovery and that in their absence the recovery would have happened in a much more robust fashion. And I am dismissed as bitter. Anyone who thinks the growth we have seen under Obama is sufficient or something to be proud of knows little or nothing about economics. Especially with all the illegal immigrants we are now permitting to enter the legal work force we need massive growth in order to provide jobs for all these people.
Let's get something straight. Recession is a normal part of the economic cycle as is recovery. Neither Bush nor the Democrats CAUSED the last recession. Both parties are responsible for the state of the financial industry in 2008. Nothing Obama did after that bailout did anything to help the economy. There is not one thing he did that helped the economy. But many things including Obamacare negatively affected growth. The economy has NOT grown at the rate it would grow if pro-growth policies were enacted. This is simple basic stuff. We will likely slip back into recession with the current recovery not even getting us back to the starting line. And I am not bitter. I am excited at the prosepct of a new administration and a fresh start.

Let's get something straight. Recession is a normal part of the economic cycle as is recovery. Neither Bush nor the Democrats CAUSED the last recession.
I seem to remember you blaming Jimmy Carter for the poor economy of the late 70's.

Let's get something straight. Recession is a normal part of the economic cycle as is recovery. Neither Bush nor the Democrats CAUSED the last recession.
I seem to remember you blaming Jimmy Carter for the poor economy of the late 70's.
I blamed him for poor leadership and lack of vision. His idea of leadership was to tell the country to accept the new normal. He lacked the vision to imagine a robust period of economic growth. The horrible stagflation was mostly the fault of Nixon with his awful distortions of the economy and are a good lesson in how a president can do terrible damage to the economy to further his own political needs.

So Presidents can be responsible for bad economies.
And you believe Obama is responsible for a poor recovery and that a poor recovery is worst than no recovery at all.
Got it.

And you believe Obama is responsible for a poor recovery and that a poor recovery is worst than no recovery at all.
Got it.
They didn't listen to the public; who was clamoring for economic relief, more jobs, higher wages -- not a massive health care bill. They still aren't listening.
http://www.realclearpolitics.com/articles/2014/12/03/president_obama_blew_it_--_again_124834.html

So Presidents can be responsible for bad economies.
And you believe Obama is responsible for a poor recovery and that a poor recovery is worst than no recovery at all.
Got it.
Of course the government can be responsible for poor economies. By distorting the market to serve their political ends. What I believe is that the government cannot bring about STRONG economies except by getting out of the way as much as possible. When we speak of pro-growth policy, that is what we are talking about. The government does not creat jobs or growth. It impedes it or it allows it to happen naturally.

Despite the Obama administrations best efforts, you can only hold the U.S. economy down for so long. Of course without his "help" it would have grown at a much faster pace. As is totally being ignored the Obama "recovery" is the lamest recovery from a recession since the 30's. Of course the sycophants will say it's because of the unprecedented disaster Bush left but that is simply not true.
I'm so sorry for your bitterness. I hope you are able to put it aside for the holiday.
"you can only hold the U.S. economy down for so long..."
Yeah. It had nothing to do with Bush Administration policies. It wasn't like he turned a surplus into the largest deficit in the history of the world.
Amazing how I report a simple truth which is that a sputtering recovery of 2 or less percent growth is scarcely a recovery at all, nowhere NEAR enough to make up for and move past the recession. The simple truth that this is the weakest recovery in 70 years. The simple truth that Obama anti-growth policies have retarded the recovery and that in their absence the recovery would have happened in a much more robust fashion. And I am dismissed as bitter. Anyone who thinks the growth we have seen under Obama is sufficient or something to be proud of knows little or nothing about economics. Especially with all the illegal immigrants we are now permitting to enter the legal work force we need massive growth in order to provide jobs for all these people.
Let's get something straight. Recession is a normal part of the economic cycle as is recovery. Neither Bush nor the Democrats CAUSED the last recession. Both parties are responsible for the state of the financial industry in 2008. Nothing Obama did after that bailout did anything to help the economy. There is not one thing he did that helped the economy. But many things including Obamacare negatively affected growth. The economy has NOT grown at the rate it would grow if pro-growth policies were enacted. This is simple basic stuff. We will likely slip back into recession with the current recovery not even getting us back to the starting line. And I am not bitter. I am excited at the prosepct of a new administration and a fresh start.
So Obamacare is the reason the economy has not grown to meet expectations? And what pro growth policies should he have enacted which would have stimulated growth?
Here is the opinion of a Nobel winning economist, Paul Krugman, that I have linked to before who disagrees with your assessment. Obama may not be perfect but he has done a credible job preventing our economy from going down the drain. With all due respect I will take his word over an Obama hater poster on an music forum.
Barack Obama might not have been elected president without the 2008 financial crisis; he certainly wouldn't have had the House majority and the brief filibuster-proof Senate majority that made health reform possible. So it's very disappointing that six years into his presidency, the U.S. economy is still a long way from being fully recovered.
Before we ask why, however, we should note that things could have been worse. In fact, in other times and places they have been worse. Make no mistake about it – the devastation wrought by the financial crisis was terrible, with real income falling 5.5 percent. But that's actually not as bad as the ''typical'' experience after financial crises: Even in advanced countries, the median post-crisis decline in per- capita real GDP is seven percent. Recovery has been slow: It took almost six years for the United States to regain pre-crisis average income. But that was actually a bit faster than the historical average.
Or compare our performance with that of the European Union. Unemployment in America rose to a horrifying 10 percent in 2009, but it has come down sharply in the past few years. It's true that some of the apparent improvement probably reflects discouraged workers dropping out, but there has been substantial real progress. Meanwhile, Europe has had barely any job recovery at all, and unemployment is still in double digits. Compared with our counterparts across the Atlantic, we haven't done too badly.
Did Obama's policies contribute to this less-awful performance? Yes, without question. You'd never know it listening to the talking heads, but there's overwhelming consensus among economists that the Obama stimulus plan helped mitigate the worst of the slump. For example, when a panel of economic experts was asked whether the U.S. unemployment rate was lower at the end of 2010 than it would have been without the stimulus, 82 percent said yes, only two percent said no.
Still, couldn't the U.S. economy have done a lot better? Of course. The original stimulus should have been both bigger and longer. And after Republicans won the House in 2010, U.S. policy took a sharp turn in the wrong direction. Not only did the stimulus fade out, but sequestration led to further steep cuts in federal spending, exactly the wrong thing to do in a still-depressed economy.
We can argue about how much Obama could have altered this literally depressing turn of events. He could have pushed for a larger, more extended stimulus, perhaps with provisions for extra aid that would have kicked in if unemployment stayed high. (This isn't 20-20 hindsight, because a number of economists, myself included, pleaded for more aggressive measures from the beginning.) He arguably let Republicans blackmail him over the debt ceiling in 2011, leading to the sequester. But this is all kind of iffy.
The bottom line on Obama's economic policy should be that what he did helped the economy, and that while enormous economic and human damage has taken place on his watch, the United States coped with the financial crisis better than most countries facing comparable crises have managed. He should have done more and better, but the narrative that portrays his policies as a simple failure is all wrong.
While America remains an incredibly unequal society, and we haven't seen anything like the New Deal's efforts to narrow income gaps, Obama has done more to limit inequality than he gets credit for. The rich are paying higher taxes, thanks to the partial expiration of the Bush tax cuts and the special taxes on high incomes that help pay for Obamacare; the Congressional Budget Office estimates the average tax rate of the top one percent at 33.6 percent in 2013, up from 28.1 percent in 2008. Meanwhile, the financial aid in Obamacare – expanded Medicaid, subsidies to help lower-income households pay insurance premiums – goes disproportionately to less-well-off Americans. When conservatives accuse Obama of redistributing income, they're not completely wrong – and liberals should give him credit.
Read more: http://www.rollingstone.com/politics/news/in-defense-of-obama-20141008#ixzz3KrJCT1RR
Follow us: @rollingstone on Twitter | RollingStone on Facebook
[Edited on 12/3/2014 by Bill_Graham]
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