{"id":10656,"date":"2011-07-29T12:34:28","date_gmt":"2011-07-29T16:34:28","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=10656"},"modified":"2011-07-29T16:17:57","modified_gmt":"2011-07-29T20:17:57","slug":"todays-pathetic-economic-growth-report-illustrates-failure-of-obama-spending-stimulus","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/10656\/todays-pathetic-economic-growth-report-illustrates-failure-of-obama-spending-stimulus\/","title":{"rendered":"Pathetic Economic Growth Report Illustrates Failure Of Obama Spending &#8220;Stimulus&#8221;"},"content":{"rendered":"<p>Barack Obama and liberals <a href=\"http:\/\/www.breitbart.tv\/obama-stimulus-pulled-us-from-great-depression\/\" target=\"_blank\">fraudulently claim<\/a> that their massive spending binge &#8220;prevented another Great Depression.&#8221;<\/p>\n<p>It&#8217;s more accurate to say that their spending and regulatory onslaught stifled our natural cyclical recovery and heaped more debt upon the American people.<\/p>\n<p>Today&#8217;s economic <a href=\"http:\/\/online.wsj.com\/article\/SB10001424053111904800304576475811201857064.html?mod=WSJ_hp_LEFTTopStories\" target=\"_blank\">growth report<\/a> card from the Commerce Department provided the latest evidence of that reality, as if any additional clarity was necessary.\u00a0 For the second quarter of 2011 (April through June), American gross domestic product (GDP) only grew 1.3%.\u00a0 That fell substantially below the expected 1.8% rate, which itself constitutes sluggish growth.\u00a0 Moreover, first quarter GDP was revised shockingly downward to 0.4% from its initial 1.9% estimate.\u00a0 That is simply pathetic and unacceptable.<\/p>\n<p>In comparison, the American economy jolted to life after Ronald Reagan&#8217;s very different response to the early 1980s recession (which was actually worse than the most recent recession, despite liberals&#8217; persistent claims to the contrary).\u00a0 According to the <a href=\"http:\/\/bea.gov\/iTable\/iTable.cfm?ReqID=9&amp;step=1\" target=\"_blank\">Bureau of Economic Analysis<\/a>, in the eight quarters since Obama&#8217;s wasteful &#8220;stimulus&#8221; in 2009, we&#8217;ve witnessed growth rates of 1.7%, 3.8%, 3.9%, 3.8%, 2.5%, 2.3%, 0.4% and now 1.9%.\u00a0 That&#8217;s an average of just 2.5%.\u00a0 But in the eight quarters following the effective date of the Reagan tax cuts, GDP exploded at rates of 5.1%, 9.3%, 8.1%, 8.5%, 8.0%, 7.1%, 3.9% and 3.3%.\u00a0 That&#8217;s an average of 6.7%.<\/p>\n<p>Today&#8217;s depressing report simply shows once again that lower taxes and less government create prosperity, while bigger government and more spending create stagnation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Barack Obama and liberals fraudulently claim that their massive spending binge &#8220;prevented another Great Depression.&#8221; It&#8217;s more accurate to say that their spending and regulatory onslaught stifled our natural cyclical recovery and heaped more debt upon the American people. Today&#8217;s economic growth report card from the Commerce Department provided the latest evidence of that reality, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[19,1004,24,61,179],"class_list":["post-10656","post","type-post","status-publish","format-standard","hentry","category-posts","tag-economy","tag-gdp","tag-obama","tag-spending","tag-stimulus"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/10656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=10656"}],"version-history":[{"count":5,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/10656\/revisions"}],"predecessor-version":[{"id":10675,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/10656\/revisions\/10675"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=10656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=10656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=10656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}