The US Q1 GDP growth was – 1.0% and this marked the first time the GDP has hit negative territory since Q1 of 2011.
But as NPR reports, we mustn’t blame Obama for this.
It’s The Weather
“The first-quarter downturn reflected the “unusually severe winter weather, including record cold temperatures and snowstorms,” Jason Furman, chairman of the president’s Council of Economic Advisers, said in a statement.”
Well this is exactly what the Anthropogenic Global Warming cult predicted all along – An increased concentration of CO2 in the atmosphere would heat the atmosphere and cause terribly cold, snowy winters. That’s exactly what the AGW cult predicted, right? Nope. Oh the irony….
But it’s not just the weather that caused the pitiful GDP growth – Remember that awful, horrible Bush Recession?
It’s The Great Recession’s Shadow
“Still, the GDP report cannot be entirely ignored. If nothing else, it is further evidence that the Great Recession has cast a very long shadow. Economists for the government consider the recovery to have begun in summer of 2009. But growth has never been robust for long, with constant dips interrupting momentum.”
So we’re still dealing with a recession that happened 6 years ago?
I thought the 2009 Stimulus was supposed to get us out of the recession and stimulate growth.
What about the Recovery Summer of 2010?
The NPR story never even hinted that maybe, JUST MAYBE, the Left’s policy failures over the past 5 years may have had a hand in this latest GDP growth report. There was nothing in the NPR article about record government spending, a Healthcare law that destroys jobs and stymies innovation/entrepreneurship, the Medical Device Tax, an overreaching NLRB, failure to build the Keystone XL pipeline, increased tax rates and the shameless crony capitalism that funneled money to failed companies headed by Obama donors.
But these items listed above can’t be the reason the economy never fully realized the recovery that a Free Market should have produced.
It can’t be Obama’s fault. It has to be something unconnected with The One.
Not to be a downer, but remember the classical definition of a Recession is 2 consecutive quarters of negative GDP growth. We’ll see in another 3 months if we are in another Recession and if that is the case, I’m sure we’ll find someone or something to blame for this other than the guy who has been POTUS for the last 5-1/2 years.