Hooray! GDP Up 1.5%

The numbers for the 2nd quarter GDP are out, and some are celebrating, since some expected 1.3% (some expected 1.5%, though), and got 1.5%. Um, a clue for those celebrating: 1.5% sucks.

(Bloomberg) The U.S. economy expanded at a slower pace in the second quarter as a softening job market prompted Americans to curb spending.

Gross domestic product, the value of all goods and services produced, rose at a 1.5 percent annual rate after a revised 2 percent gain in the prior quarter, Commerce Department figures showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for a 1.4 percent increase. Household purchases, which account for about 70 percent of the world’s largest economy, grew at the slowest pace in a year.

Apparently, the Obama plan “worked”.

Drew M: “Clearly these numbers have been taken out of context.”

Ed Morrissey: “Expectations must have been pretty low for a 1.5% GDP to spark optimism.”

Strangely, 2011 4th was revised up from 3.0% to 4.1%, which is a strange jump, however, that makes the 2012 slowdown look even worse than it is. Which is pretty bad.

However, don’t forget, the private sector is doing fine

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4 Responses to “Hooray! GDP Up 1.5%”

  1. Put your Vuvuzelas away Obammunist slush-heads, these are crap #s by any measure- i.e. Dear Leader’s own Porkulus pledge, the chart said 5.8% unemployment rate by now if we gave him a trillion, remember that

  2. Lefties are making an even bigger push to spend money we don’t have to stimulate the economy, and are saying the economy is tanking because the government workforce is being reduced, because we all know that government creates lots of products. sarc/

  3. Gumball_Brains says:

    YEAH. HAPPY DAYS ARE HERE AGAIN. HAPPY DAYS ARE HERE AGAINNNN!!!

    I feel so blessed. Yes, let’s have 4 more years of this.

  4. If so, dogs and cats better hide themselves.

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