Thanks Barack… GDP Drops .1% in Last Quarter of 2012

Worst. President. Ever.
The economy posted a drop of .1% in the final quarter of 2012.
big shrink

CNBC reported:

The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.

The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.

The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That’s a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.

The surprise contraction could raise fears about the economy’s ability to handle tax increases that took effect in January and looming spending cuts.

Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth.

And those volatile categories offset faster growth in consumer spending, business investment and housing — the economy’s core drivers of growth.

Under the leadership of Barack Obama the US has seen anemic economic growth.
us growth obama
(Trading Economics)
The US is currently suffering through the worst recovery ever.

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  • Bigkahuna

    Lets watch the msm spin this and blame Bush, or the GOP. Whatever it takes not Obigears fault

  • Skandia Recluse

    Fourth quarter 2012? Isn’t that the Christmas shopping season? Isn’t that the quarter when retail makes it profit for the year?

  • Lim Lynn

    I can’t see anymore this garbage where Traitor in Chief is messing with America’s Economy.

  • cal rifkin

    What are we gonna do??

  • shadow

    As opposed to the booming economy we had under his predecessor.

  • Indiana

    Meanwhile….all of Obama’s advisers are standing around telling him what a Genius he is. Worst President (and administration) EVER!

  • snewb

    Wait till Obamcare hits with taxes, penalties & fees and they pass Cap & Tax. This uncertainty is killing the job creators (small business) but Dems know nothing about business, payrolls, balance sheets, asset to liability ratios. Bunch of idiots!

  • #5…we had a pretty good recovery going under bush until the democratic party took over congress in 2006 and the political left’s sub-prime mortgage stealth bomb exploded.

  • west1890

    Obama supporters should be THRILLED! He’s a success- he’s effectively destroying our economy, supporting social chaos and disarming the American people. Looks like we’re almost out of time America. So what do we do now? Is there ANYONE in Congress who will stand up against him and start the impeachment process?

  • lincoln’s widow

    “Is there ANYONE in Congress who will stand up against him and start the impeachment process?”

    In a word, no.

  • ★FALCON★

    *Collapsed* in the fourth quarter due to Obama’s re-selection and continued rampage on America using the communist Manifesto.

    Own it, illiterate Obama voters, dead, illegal and multiple.

  • Amalgamated Cliff Divers, Local 157

    Boooooooooooosh! We need more illegals! Woo-hoo! Thank goodness for gun sales.

  • CommieJuice

    This was the plan from the start. Mission almost accomplished for these disgusting liberals. When the crash comes, and it is coming, just remember who these people are, who the so-called new reporters who cheered this on, the so-called journalist, remember all of your so-called friends who supported this.

  • MonkeyWrench

    Apparently, you are reading a different economic report than I read. Overall this was an upbeat report. Personal savings is up, consumer spending is up, and private investment is up. The drop in GDP was due solely to a sharp reduction in GOVERNMENT spending!

    Great economic times are just ahead, which is why the stock market is having such a bull run. No one believes that the US is going into a recession, much less a depression.

  • marcus tullius cicero


  • Ghost


    so, you agree with Rush. He’s always said he’ll let us know when it’s time to panic. he keeps saying it’s not yet time to panic. you’re both wrong.

    DIVORCE! now, while we still can

  • shadow

    the political left’s sub-prime mortgage stealth bomb exploded.

    So the “left’s” stealth bomb was created while Republicans held the White House and both houses of Congress? Sure. Nice attempt at rewriting history.

  • Pingback: Rick Santelli on Obama’s Shrinking Economy: We Are Now Europe (Video)Politifreak()


    Is anyone suprised, given the 20th century track record of the “economic success” of marxism?

  • Blacque Jacques Shellacque

    So the “left’s” stealth bomb was created while Republicans held the White House and both houses of Congress?

    No, that bomb was created a long time ago by another Democrat named Jimmy Carter, and grew teeth under Bubba’s watch. The rest is all history. Not rewritten, but borne out by analysis.

  • wodun

    Jim Hoft should avoid posting any graphs or anything related to math. They are always misleading and he doesn’t understand what they say.

    “Thanks Barack… GDP Drops .1% in Last Quarter of 2012”

    First of all a .1% in GDP would not be a big deal but that is not what happened. To determine the drop in GDP, you subtract the current GDP from the previous GDP. So according to the chart, GDP fell by 3% not .1%.

    The headline should read, “Thanks Barack… GDP Drops to -.1% in Last Quarter of 2012” or “Thanks Barack… GDP Drops 3% to -.1% in Last Quarter of 2012”

    You need to point out that we are now in negative GDP. Two more quarters of negative GDP growth and we are officially in a recession.

    Jim please pay more attention to what you are writing and what you are writing about. If you don’t understand what is happening find someone who will answer questions.

  • WillofLa

    That chart is bogus! After the economy collapsed after Freddie/Fannie there was no way that in less than six months that it rose to a 1.4% increase, no way. There was not even any economic private sector stimulation that took place after the “October Surprise” the Socialist let loose on the American people that it would have gone up to 4% in a year after Freddie/Fannie caused a 10 TRILLION dollar debit on the GDP, no damn way in hell!

    This chart would look accurate if you take all those scales above the “0” line and turn them upside down, back down into the negative. Try it and at the same time just think of all the destruction Obama and the Socialist Democrats did to our economy during the two years that they controlled both Houses and before the Republican’s took back the Congress and the debt was then at 16 TRILLION dollars and you will see I’m right.

    The 0.1% above the line would be the only time that the economy rose above the “0” in the first quarter of 2011, if that is even accurate. Then when the news came out today about what was seen in computing where the economy was at the end of 2012, it showed that we lost that little 0.1% we gained. That is the truth about our economy, not this bull crap showing a 4.1% growth rate and all that. It’s total bull.

    If you want to see the truth just turn all those scales above the “0” down and that would be correct.

  • mg4us

    Obama and the DemocRATs (Reid/Pelosi/Schumer/Franks/Menendez/Durban/Congressional Black Caucus) are doing to USA what THEY DID TO DETROIT!!

    For a bit of history

    Run by leftists since 1961. . and expanding government, handouts & entitlement programs!!!
    Just Like Obama is doing to OUR Country. .

    Don’t expect a different outcome from Obama based on Detroit case. . .
    Obama never ran anything except as a street community organizer. .
    and he was a loser at that.. . .

    You asked for Change. .now you will get it. . .

    Next Time someone promises Hope & Change ask:
    Change to What?

  • YourMaster

    the communist utopia is what the libs want…
    pretty soon the USA will be changed to the USSA
    the flag will have a fist and hammer/sickle
    the USA anthem will be changed to the USSR’s anthem
    and we will all be forced to speak and write russian
    ….then a longterm great depression II starts when the economy is destroyed.
    and the riots begin …most libs will probably freeze to death in their own homes… due to no heat and power or most likely starve to death …when they have to eat moldy bread or rotten food. *l* or they will get STD’s from having too much gay sex with union thugs/communists

  • What to do?
    Buy gold or sit tight and wait for the next chaos.

    We are screwed.

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