The first results are out from the government for economic growth in 2014. The economy grew 2.4% in 2014. That's all; it grew just 2.4%. After weeks and months of hearing the mainstream media tell us that America was back in full growth, we found out that the actual growth number was 2.4%. It is a shockingly poor number.
It is also important to know that the fourth quarter of 2014 grew at an almost identical rate of 2.6%. For those who claimed that the economy is accelerating, the USA grew at 2.6% in the last quarter of the year. For those pundits who kept talking about the economy while playing "Happy Days Are Here Again" in the background, the economy grew at 2.6% in the fourth quarter. That is a reduction of about two and a half percent in the rate of growth from the third quarter. Indeed, it looks at the moment like the third quarter had some strange factors that boosted it higher and that we are now back to more normal growth. One has to wonder if that strange "boost" to the third quarter numbers had anything to do with a hope by the Obama administration that higher growth would help the Democrats last November. (It didn't, by the way.)
America remains mired in a slow growth or no-growth economy. Those in the middle who struggle each day to make ends meet are getting no relief. The policies followed by president Obama are slowly strangling million of people.
It's called reality, and it isn't pretty.
It is also important to know that the fourth quarter of 2014 grew at an almost identical rate of 2.6%. For those who claimed that the economy is accelerating, the USA grew at 2.6% in the last quarter of the year. For those pundits who kept talking about the economy while playing "Happy Days Are Here Again" in the background, the economy grew at 2.6% in the fourth quarter. That is a reduction of about two and a half percent in the rate of growth from the third quarter. Indeed, it looks at the moment like the third quarter had some strange factors that boosted it higher and that we are now back to more normal growth. One has to wonder if that strange "boost" to the third quarter numbers had anything to do with a hope by the Obama administration that higher growth would help the Democrats last November. (It didn't, by the way.)
America remains mired in a slow growth or no-growth economy. Those in the middle who struggle each day to make ends meet are getting no relief. The policies followed by president Obama are slowly strangling million of people.
It's called reality, and it isn't pretty.
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