PoliticalNews.me - Oct 27,2012 - We Can't Afford Four More Years Of Anemic Economic Growth
“We received the latest round of discouraging economic news: Last quarter, our economy grew at only two percent, less than half the 4.3% rate the White House projected after passing the stimulus bill. Slow economic growth means slow job growth and declining take-home pay. This is what four years of President Obama's policies have produced. Americans are ready for change -- for growth, for jobs, for higher take-home pay. Paul Ryan and I will deliver it.” – Mitt Romney
In The Third Quarter Of 2012, The U.S. Economy Reported A Sluggish 2 Percent Growth Rate:
In The Third Quarter Of 2012, GDP Grew At A Sluggish 2 Percent Annual Rate After Growing At Only 1.3 Percent Last Quarter. “Gross domestic product, the value of all goods and services produced in the U.S., rose at a 2 percent annual rate after climbing 1.3 percent in the prior quarter, Commerce Department figures showed today in Washington.” (Shobhana Chandra, “Economy In U.S. Grows At 2% Annual Rate, More Than Forecast,” Bloomberg, 10/26/12)
•“The Growth Rate, In The Third Quarter As For Most Of Those Three Years, Has Been Slow…” “But the growth rate, in the third quarter as for most of those three years, has been slow, roughly in line with the long-term growth potential of the U.S. economy--in other words, not enough to put the millions of jobless Americans back to work with any speed, as Governor Mitt Romney and his allies are inclined to emphasize.” (Neil Irwin, “GDP Rises 2%, Showing A Slow But Durable Recovery,” The Washington Post, 10/26/12)
Economic Growth “Has Been Sporadic” And Not Enough “To Bring Down Joblessness To Where It Was Before The Economic Meltdown.” “Growth has been sporadic since the recession officially ended in 2009, but mostly hovering at the 2-3 percent level, not enough, say economists, to bring down joblessness to where it was before the economic meltdown took full hold in 2007-2008.” (Bill McGuire, “3rd Quarter GDP Rises 2 Percent,” ABC News, 10/26/12)
“The Economy Is Growing Half As Fast” As Predicted By The Obama White House In 2009. “So the economy is growing half as fast as predicted by the WH back in August 2009. Instead of 4.3% for full year, more like 1.8% so far” (James Pethokoukis Twitter Feed, 10/26/12)
•Following The Passage Of President Obama’s Stimulus, The Obama White House Predicted 4.3% GDP Growth In 2012 And 2013. (“Mid-Session Review,” Office Of Management & Budget, 8/25/09)
American Enterprise Institute’s James Pethokoukis: “The Economy Remain At Or Just Above Stall Speed. Much Higher Risk Of Recession Over Coming Year.” (James Pethokoukis Twitter Feed, 10/26/12)
And President Obama’s Lack Of Leadership On The Fiscal Cliff Has Already Hurt Economic Growth And Cost Jobs:
A New Study By The National Association Of Manufacturers Found That The Looming “Fiscal Cliff” Has Already Cost 1 Million Jobs This Year. “The ‘fiscal cliff’ is still two months off, but the scheduled blast of tax hikes and
