User avatar
By Upsetter
#290480
To all those who have hemmed and hawed about the stimulus, the bailout, and whatever all else, aside from the fact that BO NEEDS to reign in spending, which he seems somewhat keen on doing given the SOTU, how can you compain about our economic turnaround?
GDP data show 5.7 percent rate in Q4, a quicker pace than expected
The fourth quarter growth rate was the fastest pace since 2003 and marked two straight quarters of growth after four quarters of decline. Growth exceeded expectations mainly because business spending on equipment and software jumped much more than forecast.
With hiring still weak, the Obama administration has stepped up his focus on job creation. The goal is "to encourage businesses to respond to rising demand and output by taking the plunge and hiring new workers again," said Christina Romer, Obama's top economic advisor.
A steep increase in exports also helped boost growth last quarter. The shipment of goods overseas rose 18.1 percent, far outpacing a 10.5 percent rise in imports. Net exports added 0.5 percentage point to GDP.
The report provided an upbeat end to an otherwise dismal year: The U.S. economy declined 2.4 percent in 2009, the largest drop since 1946. That's the first annual decline since 1991. The U.S. economy grew at the quickest pace in more than six years, as businesses made less-aggressive cuts to inventories and stepped up spending.
http://www.msnbc.msn.com/id/35141308/ns ... nd_economy
While you can argue, and I would agree, that the spending needs to be reigned in big time, I just dont see how you can argue that BO's economic policies, both looking forward and backward, have been on the wrong track. Unless of course, you just want to see him fail. :coffee
By Willi
#290488
m.b. wrote:the voters will decide if it was successful or not.

Interesting way to measure successful economic policies.

So that means that you think Clinton and every two term President had successful economic policies?

Willi
User avatar
By BigCliff
#290490
Its too early to tell if the massive ship has been turned and headed in the right direction, and voters base decisions much more on umemployment numbers than GDP, so I just don't think this news is that big of a deal, unless its the start of an ongoing trend.
User avatar
By West Chester
#290492
Yes, Q4 2009 did have some solid economic numbers and hopefully the economy is turning around.

Unfortunately, there are still a lot of other factors that are not improving. Time will tell how all these drastic changes will affect the economy.
User avatar
By Upsetter
#290495
Of course, employment always follows other indicators; its the last leap companies will make on their rebound. Seems pertinent then that BO has turned his focus on jobs. He gave some particulars in the SOTU. He is on CNN right now giving more to the repubs at their house retreat, or so I hear. It will be interesting to see what they come up with. Hopefully, it wont add more debt, but i aint holding my breath.
User avatar
By m.b.
#290512
Willi wrote:
m.b. wrote:the voters will decide if it was successful or not.

Interesting way to measure successful economic policies.

So that means that you think Clinton and every two term President had successful economic policies?

Willi
no, i made no mention of what i thought. read it again and stop putting words in my mouth.

the statement implies that the electorate will decide if his marxists policies and beliefs are good for their long term best interests.
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