GDP data show 5.7 percent rate in Q4, a quicker pace than expectedWhile 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.
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
Its been noted here that newbies sometimes get a rough treatment. Here is one response, written by Old Dog, that might help those thinking of making their first post understand a little bit about this place. After you read this take a moment (or two or three) and look around and get a sense of this place. If you're still interested make your intro and join the fray. —Jed