The Wall Street Journal writes, “The U.S. economy slowed in the first quarter to one of the weakest paces of the five-year recovery. . . . “ I ask, “What Recovery?” The WSJ goes on, “Gross domestic product, the broadest measure of goods and services produced across the economy, advanced at a seasonally adjusted annual rate of 0.1% in the first quarter, the Commerce Department said Wednesday.”
The reason the GDP sucks is obvious; less than 1 in 5 households have even one fully employed person (look at unemployed and underemployed as measured by U6 in the official employment numbers). No workers = no production = no growth = stagnant GDP.
Over the time of the so called “recovery” real inflation has raised the actual cost of living by nearly 20%, while real wages are down. If the government wasn’t fudging the numbers, we’d see the great recession was followed by stagnation not recovery and we are headed into recession again. We have seen repeatedly a few months after the government announces the GDP they “correct” that number and for the past decade, is inevitably lower, what’s lower than 0.1% growth???
What we know about the Obama Administration and the Democrat controlled Senate is that they haven’t passed a budget in 5 years. That means there is no plan and it’s obvious. The reality is”