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Editorial: U.S. Is Already In A Growth Recession
IBD Editorials ^ | June 1, 2011 | Staff

Posted on 06/01/2011 5:40:33 PM PDT by Kaslin

Economy: As the president works on his golf game, the economy is coming apart again. Housing is taking another leg down, job gains seem to be tailing off and a fiscal iceberg lies just ahead. Will someone sound the alarm?

President Obama has busied himself with many things lately — angering longtime allies such as Israel, plunging us into an open-ended conflict in Libya without congressional approval, spending quality face-time with the British royals, golfing on Memorial Day.

On Wednesday, he even found time to declare June "Lesbian, Gay, Bisexual and Transgender Month."

We know the president is busy, but maybe it's time he returned to thinking about our foundering, job-challenged economy.

Recent data show a shocking turn south. While some worry we might soon experience a double-dip recession, we're already in a kind of recession — a growth recession. That's where the economy is barely eking out enough growth to create jobs. And the number of jobs being created isn't enough to sop up the unemployed and new entrants to the workforce.

Consider these data, all from one day:

• ADP reported that, based on its payroll tally, 38,000 private jobs were created in May — 100,000 short of the minimum needed for healthy growth.

• Employment consultant Challenger, Gray & Christmas said businesses cut 37,135 jobs last month, up nearly 2% from April.

• Housing prices in the U.S. plunged 4.2% in the first quarter, the lowest since the financial crisis began.

• The Mortgage Bankers Association's mortgage application index fell 4% in the final week of May.

• The Institute for Supply Management reported its factory activity index tumbled from 60.4 in April to 53.5 in May — the lowest since September 2009

(Excerpt) Read more at investors.com ...


TOPICS: Culture/Society; Editorial; Foreign Affairs; Israel
KEYWORDS: awol; free; money; obamanomics; qe; stimulus
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1 posted on 06/01/2011 5:40:34 PM PDT by Kaslin
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To: Kaslin
Employment is an impediment to any good Marxist's objectives!!

THE_THRILL_IS_GONE_263sm

2 posted on 06/01/2011 5:44:41 PM PDT by BobP (The piss-stream media - Never to be watched again in my house)
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To: Kaslin

I don’t blame Obama, or any other politician, for that matter . . . I blame “free trade.” ;)


3 posted on 06/01/2011 5:46:05 PM PDT by 1rudeboy
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To: Kaslin

“On Wednesday, he even found time to declare June “Lesbian, Gay, Bisexual and Transgender Month.”

Is this true?


4 posted on 06/01/2011 5:46:34 PM PDT by ilovesarah2012
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To: Kaslin
"Editorial: U.S. Is Already In A Growth Recession "

When were we out of one? That jackass in the white house has driven our economy into a downward spiral since the day he moved into government housing.
5 posted on 06/01/2011 5:49:53 PM PDT by NWFLConservative (Saracuda.........game on in 2012!)
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To: Kaslin

The USA is contracting like a balloon with a hole. Socialism sucks. Soon the remnants will be fighting over the scraps the fleeing wealthy have not been able to salvage. Obama reminds me of Castro.


6 posted on 06/01/2011 5:50:09 PM PDT by screaminsunshine (Socialism...Easier said than done.)
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To: 1rudeboy

And you are correct.


7 posted on 06/01/2011 5:50:47 PM PDT by screaminsunshine (Socialism...Easier said than done.)
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To: ilovesarah2012

Ayup

http://news.yahoo.com/s/dailycaller/20110531/pl_dailycaller/obamaagaindeclaresjunelesbiangaybisexualandtransgenderpridemonth


8 posted on 06/01/2011 5:51:41 PM PDT by NWFLConservative (Saracuda.........game on in 2012!)
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To: screaminsunshine

And Kevin Bacon, don’t forget him . . . he is at the root of it all.


9 posted on 06/01/2011 5:51:57 PM PDT by 1rudeboy
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To: ilovesarah2012
Is this true?

http://www.whitehouse.gov/the-press-office/presidential-proclamation-lesbian-gay-bisexual-and-transgender-pride-month If you trust whitehouse.gov to report on White House proclamations . . . :

Presidential Proclamation--Lesbian, Gay, Bisexual, and Transgender Pride Month

As Americans, it is our birthright that all people are created equal and deserve the same rights, privileges, and opportunities. Since our earliest days of independence, our Nation has striven to fulfill that promise. An important chapter in our great, unfinished story is the movement for fairness and equality on behalf of the lesbian, gay, bisexual, and transgender (LGBT) community. This month, as we recognize the immeasurable contributions of LGBT Americans, we renew our commitment to the struggle for equal rights for LGBT Americans and to ending prejudice and injustice wherever it exists.

10 posted on 06/01/2011 5:53:24 PM PDT by Pollster1 (Natural born citizen of the USA, with the birth certificate to prove it)
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To: Kaslin

Ask Obama for a fish, he will give you a stone


11 posted on 06/01/2011 5:55:35 PM PDT by yldstrk (My heroes have always been cowboys)
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To: Kaslin

It’s called stagflation - which is always the result of Keynesian economics.


12 posted on 06/01/2011 5:56:30 PM PDT by CharacterCounts (November 4, 2008 - the day America drank the Kool-Aid)
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To: Kaslin

Markets were crushed today due to the failing economy. Time to oust the Kenyan from office.


13 posted on 06/01/2011 5:58:08 PM PDT by johniegrad
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To: 1rudeboy

Then you are as clueless as Urkel. He probably knows nothing about economics either.


14 posted on 06/01/2011 5:58:31 PM PDT by arrogantsob
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To: arrogantsob

I’m just funnin’ the trolls/.


15 posted on 06/01/2011 6:00:12 PM PDT by 1rudeboy
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To: Pollster1

His pushing for the deviant crowd while the economy fizzles assures me that he won’t be running in 2012; he is making his opponents’ commericials for them. Every Christian group will be motivated to send him packing, and every unemployed American can recall that this was what he found inportant in these difficult economic times.


16 posted on 06/01/2011 6:00:21 PM PDT by kearnyirish2
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To: Kaslin
ADP reported that, based on its payroll tally, 38,000 private jobs were created in May

Is ADP usually, more or less, in line with the DOL report?
17 posted on 06/01/2011 6:01:18 PM PDT by Signalman
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To: kearnyirish2

Nope. Obama is trying to motivate the deviant crowd, to make sure every pervert of undetermined gender, every predator who wants the age of consent lowered to 12 years, every parasite who makes a living off government-funded abortions is out there voting in as many states as they can reach on election day. He’s enjoying the taxpayer-funded golf outings and the opportunity to tear down our country too much to leave by default.


18 posted on 06/01/2011 6:04:32 PM PDT by Pollster1 (Natural born citizen of the USA, with the birth certificate to prove it)
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To: Signalman
ADP reported that, based on its payroll tally, 38,000 private jobs were created in May

Not many jobs for the youth that voted for Hope and Change unless they wanted to move back home and work at McDonalds with thousands in debt. Suckers

19 posted on 06/01/2011 6:06:03 PM PDT by scooby321
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To: Pollster1

His own party stands to lose a lot if he stays in; many Dems “down the ticket” from him will pay the price for his “activism” (as they did in 2009 & 2010). Keeping the White House while giving away super-majorities in the House & Senate can’t be attractive to his party or base; ask Bill Clinton after the shelling of 1994.


20 posted on 06/01/2011 6:10:40 PM PDT by kearnyirish2
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