Tag Archives: first quarter gdp

NOT GOOD!!!! Our beltway parasites need a history lesson. The federal government’s own Bureau of Economic Analysis has released its third estimate of first quarter GDP growth. Their first estimate showed a measly 0.1% growth, the second estimate negative 1%, and their third and current estimate negative 2.9%. What should be the obvious, historical solution to our economic problem is first to cut government spending, and secondly to reduce taxes, especially capital gains and corporate taxes, which are strangling investors and preventing investment, increased employment, and wealth creation, all of which contribute again, on the backside, to tax revenue. There is historical precedent for this remedy. In 1920 our economy crashed, due to government spending to fund WWI. It was nearly a carbon copy of the crash of 2008, which we are still recovering from. Unemployment was 11.7%, and economic growth was stagnant. By simply slashing government spending, by a drastic 65%, our stagnant economy turned into a booming economy within a year, and unemployment dropped to 2.4% by 1923. It isn’t rocket science. It just takes elected leaders with common sense, a regard for history, and a collective conscience….

U.S. GDP Dropped 2.9% In The First Quarter 2014, Down Sharply From Second Estimate Comment Now Follow Comments  Excerpted from Forbes The latest data shows the U.S. economy contracted significantly more than previously estimated in the first quarter of this year. … Continue reading

Posted in Main page | Tagged , , , , | Leave a comment