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US Economy Grows at Tepid 2.2% Pace; Misses Estimates
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Gross domestic product expanded at a 2.2 percent annual rate, the Commerce Department said on Friday in its advance estimate, moderating from the fourth quarter's 3 percent rate.
While that was below economists' expectations for a 2.5 percent pace, a surge in consumer spending took some of the sting from the report. However, growth was still stronger than analysts' predictions early in the quarter for an expansion below 1.5 percent.
I thought things were getting better in the obama Wreckovery?
Thirty-five big U.S.-based multinational companies added jobs much faster than other U.S. employers in the past two years, but nearly three-fourths of those jobs were overseas, according to a Wall Street Journal analysis.
How to get them back?
The obama way - punish, demagogue, threaten, increase taxes.
The obama way - punish, demagogue, threaten, increase taxes.
Sorry but ONE QUARTER of GDP results does not constitute and economic downturn.
Do you REALLY think the Republican Party has any interests in getting jobs that have been sent overseas back?
Keep in mind the growth in outsourcing SURGED under the administration of President George W. Bush. I have yet to hear a Republican take corporations to task over sending jobs overseas. The fact of the matter is that the United States has had 11 straight quarters of economic growth.
It's not a Left issue or a Right issue. It's a fundamental economic issue. As long as the cost of comparable labor is cheaper overseas and as long as there are countries with economies expanding faster than our thats where the jobs will be going. Especially low skilled manufacturing jobs.
Sorry but ONE QUARTER of GDP results does not constitute and economic downturn.
Do you REALLY think the Republican Party has any interests in getting jobs that have been sent overseas back?
Keep in mind the growth in outsourcing SURGED under the administration of President George W. Bush. I have yet to hear a Republican take corporations to task over sending jobs overseas. The fact of the matter is that the United States has had 11 straight quarters of economic growth.
It's not a Left issue or a Right issue. It's a fundamental economic issue. As long as the cost of comparable labor is cheaper overseas and as long as there are countries with economies expanding faster than our thats where the jobs will be going. Especially low skilled manufacturing jobs.
the outsourcing which started in the 70's SURGED under clinton and his nafta disaster
fact liberal globalism is killing the USA
you want jobs to come back to the USA??? then do this:
1. repeal nafta/cafta/ofta and all the other 'freetrade' agreements
2. severely lower or eliminate the corporate tax
3. bring back import tarriffs
4. equalize the tax rates for all....the is no bloody reason anyone should be taxed at 35%...NO TAX SHOULD BE MORE THATN 15%
the outsourcing which started in the 70's SURGED under clinton and his nafta disaster
fact liberal globalism is killing the USA
you want jobs to come back to the USA??? then do this:
1. repeal nafta/cafta/ofta and all the other 'freetrade' agreements
2. severely lower or eliminate the corporate tax
3. bring back import tarriffs
4. equalize the tax rates for all....the is no bloody reason anyone should be taxed at 35%...NO TAX SHOULD BE MORE THATN 15%
Fact the Conservatives have done absolutely nothing to stop globalism and they won't. It's too much of a moneymaker.
Again it's not a Left or Right issue. It's the reality that corporations don't give a damn about this country. It's all about the profits.
Globalism is neither Democrat nor Republican... people say its inevitable because business cross national borders... Some countries don't have enough (if any) of some resources while other countries don't want to put forth the effort into researching innovative products... so there is a conundrum... Open business across borders is the only logical next conclusion and to say there isn't a consequence would be foolish, many jobs will be lost because other countries have cheaper labor and cheaper resources... What I don't see is a way for our government to tackle that problem... Oh sure, they talk the good talk like "retraining" or "more education" but that is really a "feel good" solution rather than a true solution... the corporation's job isn't to worry about the consequences of government action, their primary motivation is to make money... it is stupid to suggest that corporations are held to some sort of "moral equivalence"... the problem created by the government needs a solution by the government...
Whatever, but it sure is better than the nations that embraced austerity, who are realizing negative growth -- and it's good that we didn't listen to those here who also embraced austerity as a means of expansion. Too bad state and local governments underwent employment cuts at their level, totaling about 600,000 to 1,000,000 jobs. If there was a way of avoiding that, unemployment would have been lower and GDP growth would have been stronger.
So, let's give more tax breaks to the manufactures of durable goods and what? Expect they'll use the extra money to hire more workers and produce more durable goods that they can't sell?
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How to get them back?
The obama way - punish, demagogue, threaten, increase taxes.
Yeah, increase taxes on profits made overseas by US corporations and give tax breaks to those which create more jobs here or bring back jobs from overseas.
Whatever, but it sure is better than the nations that embraced austerity, who are realizing negative growth -- and it's good that we didn't listen to those here who also embraced austerity as a means of expansion. Too bad state and local governments underwent employment cuts at their level, totaling about 600,000 to 1,000,000 jobs. If there was a way of avoiding that, unemployment would have been lower and GDP growth would have been stronger.
Yeah and their debt will be 10X as much... I don't like "feel good" solutions that really aren't solutions at all...
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