ObamaNomics Disaster: Inflation Rises at Fastest Pace in 2-½ Years, Jobless Claims Surge, GDP Growth a Paltry 1.8%…
I think one of the main reasons Obama decided to release his birth certificate yesterday was to draw attention away from these dismal economic numbers. He’ll lose in 2012 because of the economy and he knows it, not on the BC issue. Just my 2 cents.
(CNBC) — U.S. economic growth slowed more than expected in the first quarter as higher food and gasoline prices dampened consumer spending, and sent a broad measure of inflation rising at its fastest pace in 2-½ years.
But the pull back in output, which was also the result of harsh winter weather, a widening trade gap as well as weak government spending, will probably be fleeting given a firming labor market.
Growth in U.S. gross domestic product — a measure of all goods and services produced within U.S. borders — braked to a 1.8 percent annual rate after a 3.1 percent fourth quarter pace, the Commerce Department said on Thursday. Economists had expected a 2 percent growth pace.
“We hit a bit of a soft patch in the first quarter, but that should prove temporary because weather was a drag and we got blindsided a bit by a jump in gasoline prices late in the quarter,” said Ryan Sweet, a senior economist at Moody’s Analytics before the report was released.
The Federal Reserve on Wednesday acknowledged the slowdown in first-quarter growth, describing the recovery as proceeding at a “moderate pace” — a slight step back from a statement in March when it said the economy was on a “firmer footing.”
It trimmed its growth estimate for 2011 to between 3.1 and 3.3 percent from a 3.4 to 3.9 percent January projection.
Then there’s jobless claims:
WASHINGTON (AP) — More people sought unemployment benefits last week, the second rise in three weeks, a sign the job market’s recovery is slow and uneven.
Applications for unemployment benefits jumped 25,000 to a seasonally adjusted 429,000 for the week ending April 23, the Labor Department said Thursday. That’s the highest total since late January.
The four-week average of applications, a less volatile measure, rose to 408,500, its third straight rise and the first time it has topped 400,000 in two months.
Posted by ZIP on Thursday, April 28, 2011, at 10:28 am | 
Tweet
Obama losing to 2012 elections is predicated on the idea he plans on allowing elections in 2012. For some reason, I expect a Declaration of Martial Law and suspension of things like elections, Habeas Corpus, gun ownership, etc., etc., etc., somewhere around August 2012.
So doing everything to destroy the economy doesn’t improve the economy?
Who knew?
How about raising gas costs to stop people from driving too much and everybody buying new cars with federal funding? I guess that didn’t work either?? Huh!
I’m with you, ZIP. “It’s the economy, Stupid,” as Serpent Head informed all the faint-of-heart Clinton supporters pre-election ’92.
All of the repubs, esp. the conservatives who think Odismal is so invincible, need their heads examined. If you don’t want four more years of this miserable SOB, you’ll vote for ANYONE who runs against him.
“…as well as weak government spending…”
What fucking universe does this writer live in?
Jethro…sorry, that Publisher’s Clearing House check is not coming pal!…lone gunshot heard.
As someone who follows these numbers and has for 20 plus years, I always cut them in half and that generally puts me closer to the TRUE numbers! This is especially the case under barry’s lying rat administration!!! These numbers are always revised downward months later and on the back pages!
I would not be holding stocks! It’s a fake market, doing well because of Bernake policies, but due for a major downturn that will be at light speed, leaving most investors holding the bag!! The “players” will make it out ,but no one else will!
Agreed Zip,and if this is the reason he released the so called BC,it is a very weak ploy indeed. The Rs should be hammering him on the economy.
Obama: “….and i don’t want to have to deal with these silly birthers and the absurd birth certificate claims. I wish we could just drop the whole birther thing and talk about what is reall important to Americans. But no. Those racist tea party climate-change deniers still want to talk about my birth certificate…..yup that bunch of birthing deniers just cannot seem to grasp what the really impotant issues are…..they just go on and on about my birth certificate…..”
Reporter: “Excuse me Mr President, but my question was about the unemployment rate.”
.
As the economy continues to deteriorate and Obama’s poll numbers nosedive, the liberals are getting angrier and angrier. The big meltodown is under way. The question is, what can we do to push them over the edge?
This guy is an abject disaster.
As long as there are people making excuses for Barry, “doing the best he can” because “he inherited this from George Bush” he will continue to get a pass and the lame stream media will continue to protect him. I am still having conversations with people who believe that Bush is responsbile for the housing debacle and Obama should have 4 more years to fix things. Most of the people I know who voted for him will do it again. It’s pathetic! And a little mind-boggling.
@myrtle, he may be getting a pass by MSM but I can tell you he’snot getting one from the average person.
Saturday we went boating to a spring were a lot of boats go and people get together, no less than threee people came up to us, (DH and me) and started complaining about O and the economy.
Sunday , went to an Easter egg hunt, lots of people…same thing, people putting the blame squarly on O.
Monday went to a large Flea Market, venders were putting the blame for rising prices and lower attendance right where it belongs.
BC or no BC, people are NOT better off than they were 4 years ago, things are getting worse and most people know where the buck stops.
PS, I haven’t spoken to anyone who admits to voting for him, so maybe that’s the difference in what your hearing and what I’m hearing.
what he’s deflecting from is the real issue of his Constitutional ineligibility — that the standard is not whether he was or was not a citizen at birth, but whether he is a natural born citizen — the Obama people have always wanted to talk about the birth certificate just not the natural born citizen question, & everyone I know in the eligibility movement expected him to release something before the next election, but now with next week’s eligibility case, the state focus on the topic, his campaigning kicking in, it’s convenient that he released his …uh… copy of a computer-generated assemblage of an alleged certificate, proving in fact that he cannot be a natural born citizen