Skip to comments.Pelosi: Better-Than-Expected GDP Report Evidence That Economy Making Progress Toward Recovery
Posted on 07/31/2009 10:08:06 AM PDT by Sub-Driver
Press Releases Contact: Brendan Daly/Nadeam Elshami 202-226-7616 For Immediate Release 07/31/2009 Pelosi: Better-Than-Expected GDP Report Evidence That Economy Making Progress Toward Recovery
Washington, D.C. Speaker Nancy Pelosi issued the following statement today on a report issued by the Commerce Department today that the economy shrunk just 1 percent in the second quarter of the year, which was better than economists had predicted.
"Today's better-than-expected news that the GDP has swung more than 5 percentage points in just three months is dramatic evidence that the economy is headed in the right direction. We still have a long way to go, as millions of Americans remain unemployed and small businesses from coast to coast are suffering. But economic growth is the first step to creating jobs, and with the right economic policies, we are making progress toward recovery.
President Obama has laid out three pillars to the new foundation we are building for our economy: quality, affordable health care, clean American energy, and an educational system that strengthens our economic competitiveness. With both the short-term and long-term approach, we can rebuild a stronger America.
Jobless Recovery, huh, Pelosi?
Get used to that phrase. You’re going to be hearing it a lot.
“...is dramatic evidence that the economy is headed in the right direction.”
Well, let’s see. The economy is DOWN, so I guess we now understand her goals.
Better than expected?
This botoxed bimbo is frighteningly stupid.
Hey nance..... we still have to look up to see down !!!
LOL! SRM or “someone” in gubmint is lying about the GDP figures
“I’m speechless......... “
Pelosi can say the most ridiculous things with a straight face.
1st quarter GDP was initially reported as -5.8%, then revised to -5.5% and today revised a third time to -6.4%. 2nd quarter GDP realized a 5 point improvement in 3 months? No chance, not believable, this number will revised higher. This is exactly why the DOW is not up 200+ points now
I don’t suppose Ms. Pelosi mentioned anything about the government revising downward the 1Q GDP figures from -5.5% to -6.4%? Hmmmm?
Notice, please, that the bonds are soaring today, while the Dow is up only a few points. The bonds aren’t going to Pluto because the bond traders are bullish on the economy.
So, let’s all ask Ms. Pelosi together. Ready? 1 - 2 - 3: Where are the job’s, Madame Speaker?
She is so full of it.
The new numbers are better than expected. The old numbers were worse than estimated. When the new numbers become the old numbers, they will also be worse than estimated, but that’s okay because the new-new numbers will again be better than expected... and so on and so forth.
They can only play this game for so long. Their lies aren’t going to create any jobs. They own this depression.
It's a double edge sword now. We are printing money much like the 70’s which stops productivity of the country and will only rush inflation in.
If we continue this way; we will have the mother of all depressions. This is not your ordinary depression and Pelosi knows it.
Should be an unheard of percentage of 375 percent.
6.4-5.5 = 0.9
+1.0 = 1.9
2d quarter GDP decline was -1.9%
Thanks to Politicket for exposing this scam on numbers
Another opposing view:
Am working my way through Harry Dent’s “ The Great Depression Ahead” .... if you study the demogrpahics and trends as he has, we were due at this time in history, for the mother of all depressions anyway
But WHO could have ever predicted the extent of ineptitude, ideological fanaticism, corruption and denial by the clowns running this country and the supposedly smart people who are standing by and letting them drive us all off the cliff
Commerce Secretary Gary Locke should be called to testify on the Hill to explain in great detail how 1st quarter GDP was eventually revised to -6.4% after initially being reported as -5.8% and then revised to -5.5%. Also, he needs to explain to all of us how there was a 5 point improvement in the number in only 3 months. I smell political meddling, no wonder Judd Gregg walked away from the Commerce job, he didn’t want any part of it.
You mean Pelosi was expecting negative GDP growth? Not what I recall them saying before.
When hyper-inflation hits 20%, they’ll get back to blaming George Bush.
Wait until this estimate is “revised” in a month or two and we find out it was really DOWN 6.4% too.
Only a fool, liberal, or a globalist would be happy with any loss of GDP.
A loss of GDP means your economy really really stinks...
Flat out lies. Obama and Pelosi are flat out lying.
Is she on crack?
That's what makes depressions inevitable.
And they'll say: "It's much better than we expected! Why, if we didn't have "quality and affordable" DeathCare and "Clean Energy" CapandTax it would be sooooo much worse!"
Well worth the read:
She’s saying this lie,because she knows there’s going to be rioting in the streets soon.
Don’t forget that all the stimulus and bailout money we’ve given to Fannie Mae/Freddie Mac, auto companies, banks, and handouts appear in the GDP, making it look falsely good.
Sometimes people don’t learn from history.
</b>”The economy is well on the way to recovery because the rate of decline is not as bad as the previous rate of decline.”</b
That’s equivalent to saying that a person on his death bed and in very critical condition and whose condition continues to decline, is getting better because he is deteriorating more slowly than before.
To a democrat economist, that makes sense.
The the people out here who are losing jobs and losing their homes and being taxed to death, it makes no sense whatsoever.
But, she’s preaching to the ignoramuses who voted for Obama and who will never know any better.
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