Newly Released Financial Data Reveals America Has Hit An Unprecedented Economic Low Under President Obama

Drudge Report headline about Obama economy
 

U.S. President, Barack Obama, much like his predecessor, George W. Bush, has been hiding the true state of the American economy. A report released this week reveals the U.S. economy has hit an unprecedented low under President Obama. If Obama had spent more time concentrating on America's finances and less time partying with Hollywood in the White House and meddling in Britain, this wouldn't be happening. 

   

Barack Obama

 

The report reveals Obama officially has the worst GDP rate in American history. George W. Bush created the financial crisis with his terrible spending and poor governance. Obama spent even more money than Bush, which made America's financial problems worse. Obama also spent a massive amount of time trying to get even with people over perceived wrongs he felt occurred against him, abusing his post as president.

 

FBI Director James Comey, former FBI Director Robert Mueller and U.S. President Barack Obama

 

Bush and Obama have opted to cover up the true extent of the financial problems in America and in doing so have done the nation a great disservice. It has created a black mark on their respective legacies. America needs austerity for a time. There's no way around it at this point. Anyone telling you otherwise is being deceitful. 

STORY SOURCE

SIMPLY THE WORST=> Obama is First President Ever to Not See Single Year of 3% GDP Growth 

Jim Hoft Apr 28th, 2016 11:12 am - Obama’s just like Reagan… Except when he isn’t. The rate of real economic growth is the single greatest determinate of both America’s strength as a nation and the well-being of the American people. On Thursday the Commerce Department announced that the US economy expanded at the slowest pace in two years. GDP growth rose at an anemic 0.5% rate after a paltry 1.4% fourth quarter advance. 

Ronald Reagan brought forth an annual real GDP growth of 3.5%. Barack Obama will be lucky to average a 1.55% GDP growth rate. This ranks Obama as the fourth worst presidency on record. Barack Obama will be the only U.S. president in history who did not deliver a single year of 3.0%+ economic growth. According to Louis Woodhill, if the economy continues to perform below 2.67% GDP growth rate this year, President Barack Obama will leave office with the fourth worst economic record in US history. 

Assuming 2.67% RGDP growth for 2016, Obama will leave office having produced an average of 1.55% growth. This would place his presidency fourth from the bottom of the list of 39*, above only those of Herbert Hoover (-5.65%), Andrew Johnson (-0.70%) and Theodore Roosevelt (1.41%).

http://www.thegatewaypundit.com

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How Much Money Would It Take To Fix The U.S. Economy

Barack Obama (is this Obama's version of the "duck face")

How much money would it take to fix the U.S. economy, which is deep in financial crisis. That is a rhetorical question, as trillions have been spent trying to remedy the economy and it has failed to repair the damage. That should tell Washington this is not completely a money problem, but a procedural problem regarding law and order. There is something wrong within the system that needs to change. How can a nation have such a high GDP and be so steeped in debt and economic trouble. Something is not adding up.

The problem lies on Wall Street. Bad financial practices and corporate corruption. You can’t have companies like Walmart, McDonalds, Apple, American Airlines, Yum and others doing their part, while white collar criminals with corporate entities based in fraud and theft drag the national average down, determined to illegally make money.

Until there are proper investigations, raids, record and bank account seizures and arrests, to weed out the lawbreakers who do not belong on Wall Street, the economy will continue in a negative cycle. There’s no way around it.

The situation can be likened to farming. One has to prune and weed out the bad branches, leaves and corrupted fruit or it will ruin the entire crop. And America keeps experiencing crop failure for this reason. If Obama and his administration want America to return to profitability, they will have to cut some of their corrupt corporate friends loose. Man up and lock them up.

Corporate Tax Dodgers Rankling The U.S. Government

The CBS News program "60 Minutes" aired a segment yesterday, exposing American companies that have relocated their headquarters, sometimes only on paper, to European nations, to avoid paying the 35% income tax rate in the United States. Many of their CEOs and upper level management still live in the States.

Google, Facebook, Pfizer, GE, Cisco are among the American corporations that have relocated to countries such as Ireland and Switzerland, to avoid full domestic taxes, while maintaining offices of various sizes in the United States. It is estimated, America has lost 100,000 jobs and $1 trillion dollars, due to this practice.

The United States GDP is currently $14.5 trillion dollars. Regrettably, so is the national debt, thanks to the latest hike in the debt ceiling, which created an S&P downgrade of America. The U.S. government does collect trillions in taxes, but as stated numerous times on the Judiciary Report, some of the funds are going to fruitless, wasteful programs and initiatives.

Many countries would love to have a GDP as high as $14.5 trillion, yet the government, for reasons known to them, can't make it work, as written about in the article "Is $14.5 Trillion Not Enough Money." How can they not make that work, when that's so much money coming in (regarding their cut of corporate revenues).

The Judiciary Report finds it very alarming that the government can't make a success on their end out of such a successful GDP. Something is wrong there (government management). Serious questions need to be asked, because with all the money coming into the national treasury, America should never have reached the point of landing in an unprecedented financial crisis (2008 to the present) that has rivaled and surpassed the Great Depression in some respects. The system is broken and needs to be fixed.

Is $14.5 Trillion Not Enough Money

UPDATE: The line "Any government in the world should be able to make due on $14.5 trillion dollars in income per year" should have stated "Any government in the world should be able to make due on $14.5 trillion dollars in income per year (their cut thereof)" and has been fixed.

Why Can't Washington Make It Work

Barack Obama

The GDP of the United States of America is approximately $14.5 trillion dollars, which is a significant sum of money. Yet, Washington felt the necessity to raise the debt ceiling, to negative results, claiming they could not make due on that amount. They claimed it would leave vital national bills unpaid, if they did not increase the current threshold of debt.

The Judiciary Report finds those claims quite dubious. Any government in the world should be able to make due on $14.5 trillion dollars in income per year (their cut thereof). Excessive spending and financially wasteful expenditures is the problem. A lot of money is coming into the national coffers, which could address the nation's financial problems, but a large portion of that figure is being diverted to the wrong things.

First off, if the government eliminated the three unjustifiable wars it has running, many innocent lives would be saved, as well as trillions of dollars, which could be constructively used in America. Further budget cuts at the CIA, FBI and NSA, would prove very beneficial as well, due to the agencies' role in government, usually entailing starting trouble of some sort against innocent Americans or international citizens in the world, in violation of the U.S. Constitution.

U.S. House Speaker John Boehner and President Barack Obama

As the Judiciary Report sees it, 14,000,000 people should not be out of work and suffering, factories shutting, businesses going under, homes being lost to foreclosure, people wanting to go to university, but can't afford to, all so some can keep unjust tax breaks, illegal wars and unlawful surveillance running. A choice needs to be made now, regarding budget cuts and taxation on the rich, to turn the economy around or things will continue to deteriorate.

The other option is to do nothing and circumstances will make the choices for you, as in the nation completely running out of financial options and having to close a number of agencies (CIA, FBI, NSA) and initiatives, as the money simply isn't there to keep it running, with borrowing options extremely narrowing.

The government is playing a dangerous game in Washington, D.C. and it is one they are going to lose, if they remain on the current path they treacherously tread.

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Artificial Growth - Part 2

Artificial Growth

Artificial Growth

The Obama Administration used today's GDP numbers, which reflect small growth, to proclaim the "recession" over, but is it. The administration is in danger of falling into a false sense of security.

Unemployment continues to skyrocket, foreclosures still soar, corporate revenue declines are still massive and consumer spending is way down. The crisis continues to surpass the Great Depression in the areas of foreclosures and revenue declines, among other things.

The aforementioned growth is actually the many billions in stimulus money, the government doled out that certain businesses are claiming as revenue. Therefore, said growth is not the real deal. It is artificial growth.

The government cannot sustain this form of growth by spending one to two trillion per year, as it will wreak havoc on the national deficit. Corporate America needs to start cutting back on waste and creating actual products and real services again. No more ponzi schemes, rip-offs or gouging.

With big government boost, U.S. economy grew in 3rd quarter

The U.S. economy roared to life this summer, as an array of government actions led to the strongest quarter of growth in two years.

The Commerce Department reported Thursday that the nation's gross domestic product rose at a 3.5 percent annual rate in the July-through-September quarter, the clearest evidence yet that the country has begun to emerge from the deepest downturn in decades.

But there were few signs in the new data that the private sector will be able to sustain that growth once the government pulls back, or that the rise will soon translate into an improving job market.

The unemployment rate has continued rising in recent months, to 9.8 percent in September, as businesses remained reluctant to hire...

http://www.washingtonpost.com

U.S. GDP Estimates

Video: Market Update 7/31/09: GDP Contracts 1% - Forbes

Many outlets are interpreting the latest financial data for the U.S. economy differently, but one thing is certain, the nation still sits in a serious financial rut that over-spending shall only exacerbate.

Obama's healthcare bill received a lot of press this week, but I am not convinced of its effectiveness, due to the fact, there are over 300,000,000 people in America and to provide healthcare for everyone, will accumulate a significant amount of debt that will not be offset, in the manner in which the initiative is being undertaken.

However, as they are responsible for the nation, it is the administration's prerogative to try, but this measure will break the bank in its current form.