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AP: Economy Will Boom To A 3% GDP In 2014

From a completely shameless shill at the Associated Press:

Why economists say 2014 could prove breakout year

By MARTIN CRUTSINGER | March 27, 2014

WASHINGTON (AP) — Once this year’s harsh weather has faded, the U.S. economy could be poised for a breakout year — its strongest annual growth in nearly a decade. The combination of an improving job market, pent-up consumer demand, less drag from U.S. government policies and a brighter global outlook is boosting optimism for the rest of 2014…

This AP reporter’s name might as well be Crap Crud-slinger. He certainly handles this bull like a toreador. But that is the job of the AP: to tell us things are better than they are when a Democrat is in the White House. And visa versa when we have a Republican President.

Many analysts foresee the economy growing 3 percent for the year, after a weak first quarter that followed a stronger end of 2013. It would be the most robust expansion for any year since 2005, two years before the Great Recession began.

Lest we forget, the AP and the rest of our mainstream media claimed we were sinking into a recession when the GDP was 3.3% under President Bush.

One reason for the optimism: The government estimated Thursday that the economy grew at a 2.6 percent annual rate in the October-December quarter, up from its previous estimate of 2.4 percent.

Yes, these government estimates are so reliable.

Fueling the gain was the fastest consumer spending for any quarter in the past three years. The numbers pointed to momentum entering 2014 from consumers, whose spending drives about 70 percent of the economy.

Remember how terrible high consumer spending was when Bush was in office?

Analysts cautioned that the brutal winter weather has depressed spending in the January-March. And they think economic growth has likely slowed to an annual rate of 2 percent or less this quarter. Yet that slowdown could pave the way for a solid bounce-back in the April-June quarter…

When a Democrat is in the White House prosperity is always ‘just around the corner.’ When it’s a Republican, recession is always ‘just around the corner.’

Many think growth will be fast enough the rest of the year for the economy to grow at least 3 percent for all of 2014…

Which would still make it the worst recovery in our nation’s history. Even though we are now almost five years past the official end of the recession.

The U.S. economy has been hit by a series of blows since then — from a Japanese tsunami and European debt crisis, which hurt U.S. exports, to Washington budget fights, which fueled uncertainty about the government’s spending and tax policies.

Tax increases and deep spending cuts that took effect in 2013 subtracted an estimated 1.5 percentage points from growth last year. With Congress having reached a budget agreement and a deal to raise the government’s borrowing limit, companies now have more certainty about federal fiscal policies…

What an absolute embarrassment of lies. The AP really is the new Pravda. Although the old Pravda would have never been this obvious.

This article was posted by Steve on Friday, March 28th, 2014. Comments are currently closed.

7 Responses to “AP: Economy Will Boom To A 3% GDP In 2014”

  1. BannedbytheTaliban says:

    That still won’t beat out inflation. Even with the administration’s new metrics for both statistics.

  2. Right of the People says:

    Wow, a whopping 3% when under Bush all we had was a dismal 4.5%. Just like the terrible 4% unemployment rate under Bush, we now have a teeny, tiny 7.6% under Barry’s watch.

  3. captstubby says:

    “Farm worker: Comrade Stalin, we have so many potatoes that, piled one on top of the other, they would reach all the way to God!
    Stalin: But God does not exist.
    Farm worker: And neither do the potatoes.

    buh-da-chahh !

    is this thing on?

    ok, one more;

    Stalin is dead and things have begun to lighten up a bit relatively speaking. An old couple live in an apartment in Moscow and she sends him down to buy some meat for supper. After queueing for the obligatory three hours he gets to the counter and the woman says ‘No more meat, meat finished’. He cracks and starts raving ‘I fought in the Revolution, I fought for Lenin in the First World War and for Stalin in the Second World War and we are still in this s#*t ?
    One of the leather-jacketed brigade takes him on one side and says ‘Look old man you know you can’t talk like this. Just think, a few years ago you would have been shot for saying these things.’ The old man trudges home. His wife seeing him empty-handed says ‘Run out of meat again have they?’ He says: ‘It’s worse than that, they’ve run out of bullets.’

  4. Astravogel says:

    Korean War (excuse me, ‘Police Action’) doggerel:
    “Joe’s dead,
    so they said.
    Hooray, hooray,
    That’s one less

  5. Astravogel says:

    Stories of Korea from my father: A private was sent out on patrol overlooking a
    valley road.He came back all chewed up. Sarge said, “What happened?” He
    replied, ” I saw a Chinese soldier across the road, watching me. I shouted over
    to him, “Joe Stalin’s a SOB!” The Chink called back, “Harry Truman is pig dung!
    We were down in the road shaking hands on it and we got run over by a convoy!”

  6. yadayada says:

    I almost couldn’t finish the article. I got as far as, “…less drag from U.S. government policies…” and started laughing so hard I nearly asphyxiated myself.

  7. canary says:

    AP is confused. Now Americans have to pay 3% tax on their health care premiums, aside all the other taxes being added on to health care.

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