Uncategorized

Wilson: On Obama’s “Recovery”

You know things are bad when the government has to engage in blatant manipulation of economic data just to get to an overall assessment of “a weak economy.”  But that is exactly where we find ourselves. The economy is $551 billion larger than previously thought, reports the Bureau of Economic…

You know things are bad when the government has to engage in blatant manipulation of economic data just to get to an overall assessment of “a weak economy.”  But that is exactly where we find ourselves.

The economy is $551 billion larger than previously thought, reports the Bureau of Economic Analysis (BEA) in its “2013 NIPA Comprehensive Revision.”

But this found half-trillion only results from a new methodology for compiling the gross domestic product (GDP) which now, with the stroke of a pen, includes expenditures by business, government, and nonprofit institutions serving households for research and development and by private enterprises for the creation of entertainment, literary, and artistic originals as fixed investment.

Despite the $551 billion boost, the nation’s debt-to-GDP ratio remains over 100 percent. The latest GDP estimate stands at $16.633 trillion, compared with the $16.738 trillion national debt.

As a result of the changes to methodology, growth in 2012 was 2.8 percent instead of the previously report 2.2 percent.  Does anyone — anyone — actually believe the economy grew by nearly 3 percent last year?

(To continue reading this piece, press the “Read More …” icon below).

Bill Wilson is a board member of Americans for Limited Government. Follow him on Twitter @BillWilsonALG.

 

Related posts

Uncategorized

Woman is elected president of the world

John
Uncategorized

Man eats a hamburger from 1937

John
Uncategorized

Murdaugh Retrial Hearing: Interview With Bill Young

Will Folks

50 comments

Nölff August 2, 2013 at 10:10 am

Whatever happened to BigTango? This is right up his ally.

Reply
shifty henry August 2, 2013 at 10:27 am

— or “alley”

Reply
shifty henry August 2, 2013 at 10:28 am

And I still say potus looks too much like Curious George. No disrespect for your avatar.

Reply
Jay Ellington August 2, 2013 at 11:17 am

All I see is Alfred E. Neuman.
.

Reply
Jay Ellington August 2, 2013 at 11:27 am

You definitely have the “curious” part correctamundo. No disrespect to people who are “curious”.

Reply
Jan August 2, 2013 at 11:21 am

Don’t worry, we can all answer for him.
*&#^#&*#^ Obama. %%^&*(&*% Democrats. NAZIES. SOCIALISTS. I bet you all miss the Bush boom.

Reply
Frank Pytel August 2, 2013 at 11:24 am

Actually no, I don’t. And again, it depends a lot on what your definition of “better” is.

Reply
Jay Ellington August 2, 2013 at 11:32 am

Goddamnit people, when are you going to stop living in the past with all the Bush this and Bush that bullshit. I have an idea, how about we all start living in the present?

Reply
Jan August 2, 2013 at 12:30 pm

Well my previous post was a joke that obviously went right over your head. But to answer your question, “he who ignores history is bound to repeat it.” One cannot discuss “recovery”, unless we ask, recovery from what? What we are recovering from is the disaster the Republicans and Bush left the economy in. Which is a bit of history people should not forget when they go and vote.

Reply
I'llBeYourHuckleberry August 2, 2013 at 12:54 pm

Jan, the housing bust was from the forced securitization of mortgages through FNMA and FHLMC a la Bill Clinton…so let’s start there.

Jan August 5, 2013 at 10:45 am

You’re wrong.

Jay Ellington August 2, 2013 at 1:41 pm

Jokes are supposed to be funny.

shifty henry August 2, 2013 at 4:10 pm

Jay—

Reporter 1>> The cult members seem totally brainwashed, and still place their blind faith in a false savior offering hollow promises of salvation !

Reporter 2>>> And that concludes our report from the White House.

Smirks August 2, 2013 at 12:39 pm

Jan was just making fun of how BigT religiously touts the glories of the Bush administration.

Reply
shifty henry August 2, 2013 at 4:02 pm

Smirks— could BigT have been an intern in the Bush white house? If so, if could be the only highlight of his life.

Smirks August 2, 2013 at 12:37 pm

BigT, often imitated, never duplicated.

Reply
shifty henry August 2, 2013 at 4:00 pm

Smirks— my nightmare last night was that BigT was duplicated on one of those 3D printers. These printers go on my list of things that I will probably never understand:
1> how a plane stays in the air
2> where does electricity go when it isn’t being used
3> when you’re driving 70 mph why doesn’t a fly get smashed on the inside of the rear windshield (although I do know what the last thing a bug sees when it splats on your windshield)

Reply
shifty henry August 2, 2013 at 3:53 pm

Jan — you omitted A$$

Reply
Nölff August 2, 2013 at 10:10 am

Whatever happened to BigTango? This is right up his ally.

Reply
shifty henry August 2, 2013 at 10:27 am

Nolff — or “alley”

Reply
shifty henry August 2, 2013 at 10:28 am

Nolff — and I still say potus looks too much like Curious George. No disrespect for your avatar.

Reply
The Ghost of Fat Greg Dulli August 2, 2013 at 11:17 am

All I see is Alfred E. Neuman.

Reply
The Ghost of Fat Greg Dulli August 2, 2013 at 11:27 am

You definitely have the “curious” part correctamundo. No disrespect to people who are “curious”.

Reply
Jan August 2, 2013 at 11:21 am

Don’t worry, we can all answer for him.
*&#^#&*#^ Obama. %%^&*(&*% Democrats. NAZIES. SOCIALISTS. I bet you all miss the Bush boom.

Reply
Frank Pytel August 2, 2013 at 11:24 am

Actually no, I don’t. And again, it depends a lot on what your definition of “better” is.

Reply
The Ghost of Fat Greg Dulli August 2, 2013 at 11:32 am

Goddamnit people, when are you going to stop living in the past with all the Bush this and Bush that bullshit. I have an idea, how about we all start living in the present?

Reply
Jan August 2, 2013 at 12:30 pm

Well my previous post was a joke that obviously went right over your head. But to answer your question, “he who ignores history is bound to repeat it.” One cannot discuss “recovery”, unless we ask, recovery from what? What we are recovering from is the disaster the Republicans and Bush left the economy in. Which is a bit of history people should not forget when they go and vote.

Reply
I'llBeYourHuckleberry August 2, 2013 at 12:54 pm

Jan, the housing bust was from the forced securitization of mortgages through FNMA and FHLMC a la Bill Clinton…so let’s start there.

Jan August 5, 2013 at 10:45 am

You’re wrong.

The Ghost of Fat Greg Dulli August 2, 2013 at 1:41 pm

Jokes are supposed to be funny.

shifty henry August 2, 2013 at 4:10 pm

Jay—

Reporter 1>> The cult members seem totally brainwashed, and still place their blind faith in a false savior offering hollow promises of salvation !

Reporter 2>> And that concludes our report from the White House.

Smirks August 2, 2013 at 12:39 pm

Jan was just making fun of how BigT religiously touts the glories of the Bush administration.

Reply
shifty henry August 2, 2013 at 4:02 pm

Smirks— could BigT have been an intern in the Bush white house? If so, if could be the only highlight of his life.

Smirks August 2, 2013 at 12:37 pm

BigT, often imitated, never duplicated.

Reply
shifty henry August 2, 2013 at 4:00 pm

Smirks— my nightmare last night was that BigT was duplicated on one of those 3D printers. These printers go on my list of things that I will probably never understand:
1> how a plane stays in the air
2> where does electricity go when it isn’t being used
3> when you’re driving 70 mph why doesn’t a fly get smashed on the inside of the rear windshield (although I do know what the last thing is that goes through a bug’s mind when it splats on your windshield)

Reply
shifty henry August 2, 2013 at 3:53 pm

Jan — you omitted A$$

Reply
ThreePalms August 2, 2013 at 10:52 am

The great US of A’s economy has been improving from the hell hole it was in in 2008 ever since Obama took over. I know that many do not want to give him any credit and Lord knows a bunch of people have tried all kinds of things to thwart him, but you can’t deny that things are so much better. That does not mean that we still don’t have a ways to go. Hell, even Nikky is trying to spin the recovery as her great work to get people off of welfare since 2008.
Nice try, Bill Wilson

Reply
Frank Pytel August 2, 2013 at 11:03 am

That depends entirely on your definition of “better”

Reply
Jay Ellington August 2, 2013 at 11:16 am

So much better than what, the dark ages?

Reply
rwwllms August 2, 2013 at 11:55 am

Wow. I now feel so much better for being unemployed for two years now. Thank you for telling better I’m doing better from when I was employed before 2008. There’s no way I could ever tell. Must be all the lies from people telling me that I’m unemployed. I just can’t figure out why if I’m doing better I don’t get any paychecks.

I can’t wait for the $15/hr job @ McDonalds. I’ve already added to my skill set the ability to say “duh, you want some fries wid thut?” Now if I can just learn how to give change….

Reply
James August 2, 2013 at 12:38 pm

Maybe you need retraining or to move to an area of the country where there are more jobs. You cant expect the jobs to come to you. If you have been unemployed for two years you’ve either stopped looking for a job, are unwilling to change what you do for a living, or you need to move. Maybe after 2 years you need to stop blaming the economy.

Reply
ThreePalms August 2, 2013 at 10:52 am

The great US of A’s economy has been improving from the hell hole it was in in 2008 ever since Obama took over. I know that many do not want to give him any credit and Lord knows a bunch of people have tried all kinds of things to thwart him, but you can’t deny that things are so much better. That does not mean that we still don’t have a ways to go. Hell, even Nikky is trying to spin the recovery as her great work to get people off of welfare since 2008.
Nice try, Bill Wilson

Reply
Frank Pytel August 2, 2013 at 11:03 am

That depends entirely on your definition of “better”

Reply
The Ghost of Fat Greg Dulli August 2, 2013 at 11:16 am

So much better than what, the dark ages?

Reply
rwwllms August 2, 2013 at 11:55 am

Wow. I now feel so much better for being unemployed for two years now. Thank you for telling better I’m doing better from when I was employed before 2008. There’s no way I could ever tell. Must be all the lies from people telling me that I’m unemployed. I just can’t figure out why if I’m doing better I don’t get any paychecks.

I can’t wait for the $15/hr job @ McDonalds. I’ve already added to my skill set the ability to say “duh, you want some fries wid thut?” Now if I can just learn how to give change….

Reply
James August 2, 2013 at 12:38 pm

Maybe you need retraining or to move to an area of the country where there are more jobs. You cant expect the jobs to come to you. If you have been unemployed for two years you’ve either stopped looking for a job, are unwilling to change what you do for a living, or you need to move. Maybe after 2 years you need to stop blaming the economy.

Reply
9" August 2, 2013 at 6:44 pm

Insight and erudition.This is why Fits’ blog is the greatest in the Southeast,and will soon take over the nation,if not the world.Bill Wilson ,Amy Lazenby,and,Will Fits ,himself….
Oh my God.It is too good to be true.I hope Mr Wilson didn’t worsen his carpal tunnel syndrome, typing this incredibly laborious yet brilliant opinion piece.’Click More’ ? That would take too much time to truly understand this man’s genius,and we are not worthy..

Reply
9" August 2, 2013 at 6:44 pm

Insight and erudition.This is why Fits’ blog is the greatest in the Southeast,and will soon take over the nation,if not the world.Bill Wilson ,Amy Lazenby,and,Will Fits ,himself….
Oh my God.It is too good to be true.I hope Mr Wilson didn’t worsen his carpal tunnel syndrome, typing this incredibly laborious yet brilliant opinion piece.’Click More’ ? That would take too much time to truly understand this man’s genius,and we are not worthy..

Reply
Torch August 5, 2013 at 10:18 am

Maybe if Boehner and his cronies would spend more time on job creation and less on voting to repeal the ACA 40 times they could get something done to help the recovery. They must be brain dead as it wouldn’t pass the Senate and if it did, it would be vetoed. They are the worst, ineffective congressmen ever to be elected.

Reply
Torch August 5, 2013 at 10:18 am

Maybe if Boehner and his cronies would spend more time on job creation and less on voting to repeal the ACA 40 times they could get something done to help the recovery. They must be brain dead as it wouldn’t pass the Senate and if it did, it would be vetoed. They are the worst, ineffective congressmen ever to be elected.

Reply

Leave a Comment