{"id":11836,"date":"2011-10-28T12:21:34","date_gmt":"2011-10-28T16:21:34","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=11836"},"modified":"2011-10-28T12:25:07","modified_gmt":"2011-10-28T16:25:07","slug":"2-5-gdp-lackluster-is-the-positive-new-in-the-age-of-obama","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/11836\/2-5-gdp-lackluster-is-the-positive-new-in-the-age-of-obama\/","title":{"rendered":"2.5% GDP: Lackluster Is the New Outstanding in the Age of Obama"},"content":{"rendered":"

So the government reported tepid 2.5%<\/a> gross domestic product (GDP) third quarter growth yesterday, and the market celebration it triggered says a lot about the bleak nature of the Obama economy.<\/p>\n

First of all, that reading fell below consensus expectations of 2.7%<\/a> growth.\u00a0 Second, 2.5% falls almost a full percentage point below the post-war historical average of 3.3% quarterly growth.\u00a0 Third, GDP should be growing even faster than that 3.3% long-term average during a period of so-called “recovery” – recall that the most recent recession officially ended nine quarters ago in June 2009.\u00a0 At a similar point during the Reagan recovery in 1984, GDP grew at a 7.1%<\/a> rate following consecutive quarters of 9.3%, 8.1%, 8.5% and 8.0% growth.\u00a0 And at the same point during the Bush recovery from the Clinton\/Gore tech bubble downturn and 9\/11, GDP grew 3.7% following a previous quarter of 6.7%<\/a> growth.\u00a0 Fourth, 2.5% growth is insufficient<\/a> to significantly improve the nation’s festering unemployment problem.<\/p>\n

A 2.5% rate certainly beats the 0.4% and 1.3% readings for the preceding two quarters of 2011, but America’s desperate need for new economic leadership becomes clear when such a lackluster result is seen as “good” news.<\/p>\n","protected":false},"excerpt":{"rendered":"

So the government reported tepid 2.5% gross domestic product (GDP) third quarter growth yesterday, and the market celebration it triggered says a lot about the bleak nature of the Obama economy. First of all, that reading fell below consensus expectations of 2.7% growth.\u00a0 Second, 2.5% falls almost a full percentage point below the post-war historical […]<\/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":[59,19,1004,2011,24,61,18],"class_list":["post-11836","post","type-post","status-publish","format-standard","hentry","category-posts","tag-deficit","tag-economy","tag-gdp","tag-gross-domestic-product","tag-obama","tag-spending","tag-unemployment"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11836","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=11836"}],"version-history":[{"count":5,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11836\/revisions"}],"predecessor-version":[{"id":11841,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11836\/revisions\/11841"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=11836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=11836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=11836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}