More great news on the economy! 3.5% Q3 growth in GDP

[Sooner8th]

Come on guys, go get yourselves a cold one after work to celebrate! Combined with Q2 growth of 4.6% it's the best two consecutive quarters since 2003 and the fourth out of the past five in which it has been 3 percent or better! OBAMA, OBAMA, OBAMA!

Come on naysayers of doom, tell us how this is all made up and cooked by some lib in some guberment office.

http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

[okie52]

If only the American public would appreciate this president and all he's done for them...

[okie52]

dems should be embracing Obama....not running away from him.

[SoonerorLater]

For all the debt we've piled on I'm glad we have a few percentage points GDP growth to show for it.

[Sooner8th]

dems should be embracing Obama....not running away from him.

It is too bad isn't it?


If only the American public would appreciate this president and all he's done for them...

Here is an article on dubya in the 2006 election. This is not new, dubya approval rating was even lower than obamas is now.

http://www.washingtonpost.com/wp-dyn/content/article/2006/10/31/AR2006103101415.html

[Sooner8th]

For all the debt we've piled on I'm glad we have a few percentage points GDP growth to show for it.

An all that debt from dubya got us only 1.67% gdp growth.

[Sooner in Tampa]

Looks like KC/8th is doing a circle jerk by himself...I sure hope he doesn't get any in his eyes...

[SoonerorLater]

An all that debt from dubya got us only 1.67% gdp growth.

Well total public debt under Obama has doubled. Under his watch more money has been been thrown down the black hole of debt than all 43 presidents before him in total so when these few quarters are far back in the rear view mirror, we will still have to figure out a way to deal the 8-9 trillion debt that has been accumulated. And by the time he is done it will be a lot more than that.

[Sooner8th]

Well total public debt under Obama has doubled. Under his watch more money has been been thrown down the black hole of debt than all 43 presidents before him in total so when these few quarters are far back in the rear view mirror, we will still have to figure out a way to deal the 8-9 trillion debt that has been accumulated. And by the time he is done it will be a lot more than that.

The debt when obama took over was $10,626,877,048,913.08 and now is $17,904,999,710,062.18 that is not doubled. It doubled under bush and tripled under reagan not under obama. The deficit was $1.2 TRILLION a year when obama took over, it is now projected to be $506 billion more than cut in half.

Try again...................

[SoonerorLater]

The debt when obama took over was $10,626,877,048,913.08 and now is $17,904,999,710,062.18 that is not doubled. It doubled under bush and tripled under reagan not under obama. The debt was $1.2 TRILLION a year when obama took over, it is now projected to be $506 billion more than cut in half.

Try again...................

"The federal debt owed to the public has more than doubled under Obama, rising by 103 percent".


http://www.factcheck.org/2014/10/obamas-numbers-october-2014-update/

[Sooner8th]

"The federal debt owed to the public has more than doubled under Obama, rising by 103 percent".


http://www.factcheck.org/2014/10/obamas-numbers-october-2014-update/

Do the math.

http://www.treasurydirect.gov/NP/debt/current

[olevetonahill]

Obammy is just a Peach, A peach I tell ya.

[REDREX]

The Debt is a problem----The real problem is the $ 70 Trillion in unfunded liabilities that the Gov't has in the future----How are we going to pay that bill ?

[SoonerorLater]

Do the math.

http://www.treasurydirect.gov/NP/debt/current

No need to do the math. You can simply pull the history

http://www.treasurydirect.gov/NP/debt/search?startMonth=01&startDay=20&startYear=2009&endMonth=11&endDay=01&endYear=2014

'Public debt' (owed to China, Japan, Financial institutions etc.) has more than doubled.

from
01/20/2009 6,307,310,739,681.66
to
10/29/2014 12,809,195,683,302.02


Intragovernmental debt (non marketable IOU's. Think borrowing from Social Security to fund daily operations) has risen from

from
01/20/2009 4,319,566,309,231.42
to
10/29/2014 5,095,804,026,760.16

While relatively less dire due to the fact that this debt can be reneged upon by simply reducing or eliminating Social Security. With more Baby Boomers retiring there will be less contributions and more draw down leaving a smaller pool of money to loot which will increase the borrowing on the public debt side of the house.

and on and on it goes. It will get worse and worse. Next president will have to borrow even more than Obama no matter what party is in office. It will go on like this until we collapse under the weight of the debt.

[REDREX]

So I guess Barack did double the debt

[FaninAma]

We'll see how the economy hums along now that the Fed has stopped QE. Europe and China are in the toilet but somehow the US economy is going to buck the trend? Whatever.

[Sooner8th]

So I guess Barack did double the debt

NO...do the math.

[Sooner8th]

We'll see how the economy hums along now that the Fed has stopped QE. Europe and China are in the toilet but somehow the US economy is going to buck the trend? Whatever.

So....going to beat him up for something that has not happened yet or may not happen.

Black lining to a silver cloud.

Europe is under 1% for this year and china is over 7%. How exactly is china in the toilet? And yes we will buck the trend, our economy leads trends not follows.

[FaninAma]

China has been lying about their growth for years.

The world's economy is awash in liquidity provided by the Fed and other Central banks around the world yet wages are falling, work force participation is falling, the income gap is increasing.

Tell me how the income gap increases under 6 years of a Democratic president, 2 years of Democratic control of both houses of Congress and 6 years of Democratic control of the Senate? I thought the Democrats were the friend of the middle and lower classes?

[SicEmBaylor]

China has been lying about their growth for years.

The world's economy is awash in liquidity provided by the Fed and other Central banks around the world yet wages are falling, work force participation is falling, the income gap is increasing.

Tell me how the income gap increases under 6 years of a Democratic president, 2 years of Democratic control of both houses of Congress and 6 years of Democratic control of the Senate? I thought the Democrats were the friend of the middle and lower classes?

Monetary policy is well outside my wheel house, but it seems fairly obvious to me that positive economic indicators as mentioned in the OP are mostly a result of the Fed pumping money into the economy which is why there has been such a gap between stock prices and the unemployment rate and wages. We can't keep doing that forever, and I fear that when it ends the results are going to be dire.

[Soonerjeepman]

not according to 8th....

[SoonerorLater]

Yeah, as long as BO is prez no worries. You guys just need to quit reading all of those right-wing-nut websites like treasury.gov.

[TheHumanAlphabet]

Come on guys, go get yourselves a cold one after work to celebrate! Combined with Q2 growth of 4.6% it's the best two consecutive quarters since 2003 and the fourth out of the past five in which it has been 3 percent or better! OBAMA, OBAMA, OBAMA!

Come on naysayers of doom, tell us how this is all made up and cooked by some lib in some guberment office.

http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

i call BS, it will be adjusted down to the real number in about 3 weeks. Faked data...

[okiewaker]

Despite what DC does,,,our economic system is the greatest of all time. Regardless of all regulations, etc,,US form of Capitalism is overcoming all obstacles.

[Sooner8th]

China has been lying about their growth for years.

The world's economy is awash in liquidity provided by the Fed and other Central banks around the world yet wages are falling, work force participation is falling, the income gap is increasing.

Tell me how the income gap increases under 6 years of a Democratic president, 2 years of Democratic control of both houses of Congress and 6 years of Democratic control of the Senate? I thought the Democrats were the friend of the middle and lower classes?

work force participation - take a shot everyone

You do understand this started in the '80's don't you? You do understand it always grows in a recession. It's not my party that wants low wages, what are you bitching about?

[Sooner8th]

i call BS, it will be adjusted down to the real number in about 3 weeks. Faked data...

Lemming Remember this in three months, we'll see just like the september numbers right before the 2012 election that were adjusted.......UP!

[Sooner8th]

China has been lying about their growth for years.

The world's economy is awash in liquidity provided by the Fed and other Central banks around the world yet wages are falling, work force participation is falling, the income gap is increasing.

Tell me how the income gap increases under 6 years of a Democratic president, 2 years of Democratic control of both houses of Congress and 6 years of Democratic control of the Senate? I thought the Democrats were the friend of the middle and lower classes?

Hey, did you see this?

Overall compensation increased by increased by 0.7% in Q3, and wages increased by 0.8%. Year-over-year, compensation is up 2.2%, with wages up 2.1%.

This looks like the wage growth that everyone has been looking for after signs the labor market is tightening up.

"The acceleration in wages is not really a surprise given how tight the labor market is, see also all the work we have done on this topic in recent months," Deustche Bank's Torsten Slok said. "The wage acceleration we are seeing tells us that the NAIRU in the US economy is around 5.9%. Fixed income investors should be paying attention to the rising trend in wages because the FOMC will not be ignoring it. In other words, it is time to protect your portfolio against higher rates."

http://static3.businessinsider.com/image/5453bf906bb3f7777ec62486-1200-900/cotd-eci-wage-pressure.jpg

http://www.businessinsider.com/wages-are-accelerating-2014-10#ixzz3Huwq633

Just like I've been saying, wages drop during a recession and start to raise when labor markets tighten up. Supply and DEMAND.

[cleller]

Obama has helped the rich, and hurt the working class. Is that what you're bragging about? You chastised Bush for the same thing.
Obama is just about big money, nothing else.

Now, his foreign policy is even more interesting. If your want to feel weak and insignificant. Seems a lot like the Carter Days.

[dwarthog]

Now don't be diminishing 8th's message of all is well with some of those pesky real world impacts of "The One's" policies.

[Sooner8th]

Obama has helped the rich, and hurt the working class. Is that what you're bragging about? You chastised Bush for the same thing.
Obama is just about big money, nothing else.

Now, his foreign policy is even more interesting. If your want to feel weak and insignificant. Seems a lot like the Carter Days.

Tell me what you want him to do different in foreign policy.

[Sooner8th]

i call BS, it will be adjusted down to the real number in about 3 weeks. Faked data...

Faked data huh? It was adjusted UP to 3.9%! Following a 4.6 percent surge in the spring, which resulted in the biggest consecutive quarters of growth since 2003!

http://www.huffingtonpost.com/2014/11/25/us-economy-gdp_n_6218116.html

[FaninAma]

Faked data huh? It was adjusted UP to 3.9%! Following a 4.6 percent surge in the spring, which resulted in the biggest consecutive quarters of growth since 2003!

http://www.huffingtonpost.com/2014/11/25/us-economy-gdp_n_6218116.html
I guess the American public didn't get the memo. I guess they are just stupid or maybe they don't see all of the rosey economic projections being put out by the Obama administration.
http://www.gallup.com/poll/179561/economic-confidence-index-dips-four-points.aspx

[Sooner8th]

I guess the American public didn't get the memo. I guess they are just stupid or maybe they don't see all of the rosey economic projections being put out by the Obama administration.
http://www.gallup.com/poll/179561/economic-confidence-index-dips-four-points.aspx

You are finally catching on aren't you? What does economic confidence index have to do with last quarters GDP growth of 3.9%? Always looking for the black lining on the silver cloud.

[FaninAma]

I think that there have been improvements in the economy but the beneficial effects of those improvements have been very unevenly distributed and have tended to favor the upper 1%. It's not Obama's fault. It's a sytemic problem related to the breadth and scope of our federal government's policies and priorities. It will not be changed by a President or a Congress. It is like the Doc Ock fission experiment in Spiderman II....it is self-sustaining. I just think you need to open your eyes and realize the Democrats are just as much in the back pockets of the super rich as the GOP are.

[Sooner8th]

I think that there have been improvements in the economy but the beneficial effects of those improvements have been very unevenly distributed and have tended to favor the upper 1%. It's not Obama's fault. It's a sytemic problem related to the breadth and scope of our federal government's policies and priorities. It will not be changed by a President or a Congress. It is like the Doc Ock fission experiment in Spiderman II....it is self-sustaining. I just think you need to open your eyes and realize the Democrats are just as much in the back pockets of the super rich as the GOP are.

It's only been going on for 45 years and now that obama is the president it's a problem for the right, huh? It was bush who said, you should be able to make as much money as you possible can when we were talking about the ceo's and management taking a haircut along with labor during the auto bailout fight. It is your party that fights campaign spending limits and reining in unlimited campaign giving and spending. Nothing will change until we limit how much can be given and spent on campaigns.

[FaninAma]

It's only been going on for 45 years and now that obama is the president it's a problem for the right, huh? It was bush who said, you should be able to make as much money as you possible can when we were talking about the ceo's and management taking a haircut along with labor during the auto bailout fight. It is your party that fights campaign spending limits and reining in unlimited campaign giving and spending. Nothing will change until we limit how much can be given and spent on campaigns.

I don't know about the right but on the GOP side Rand Paul and his father have been talking about crony capitalism for a long time. I am intrigued by Elizabeth Warren's stance on this issue but I am not sure if she is willing to go beyond just blaming the big banks for the ills caused by both the big banks and big government policies.

http://www.breitbart.com/Big-Government/2014/04/12/Rand-GOP-Can-t-Be-Party-of-Cronyism-and-Plutocrats

I did find this about Warren:
http://www.upi.com/Top_News/US/2014/09/28/Elizabeth-Warren-is-calling-for-an-investigation-of-the-Federal-Reserve/7031411938283/

[Sooner8th]

I don't know about the right but on the GOP side Rand Paul and his father have been talking about crony capitalism for a long time. I am intrigued by Elizabeth Warren's stance on this issue but I am not sure if she is willing to go beyond just blaming the big banks for the ills caused by both the big banks and big government policies.

http://www.breitbart.com/Big-Government/2014/04/12/Rand-GOP-Can-t-Be-Party-of-Cronyism-and-Plutocrats

I did find this about Warren:
http://www.upi.com/Top_News/US/2014/09/28/Elizabeth-Warren-is-calling-for-an-investigation-of-the-Federal-Reserve/7031411938283/

Where was your and your party's concern about "crony capitalism" when bush was in office?

[FaninAma]

Where was your and your party's concern about "crony capitalism" when bush was in office?
My guy was Ron Paul. What has your guy, Barak Obama, done to loosen the crony capitalists' grip on the government? Has the Fed been audited or had its massive power reigned in? Any big bankers involved in the 2008 meltdown gone to prison?

Bush sucked but so did the Democrats from 1996 to 2008. There were a lot of Democrats that helped deregulate the banks and allowed them to make risky loans. There was a lot of Democrat support to repeal Glas-Stegal.