U.S. economy expanded 1.9 percent in fourth quarter, 2016 GDP rises 1.6 percent

[DonViejo]

Source: The Washington Post

By Ana Swanson January 27 at 8:33 AM

The U.S. economy expanded 1.9 percent between October and December, government data showed Friday morning, capping off a long period of tepid expansion under the Obama administration.

Growth in the gross domestic product, the total output of goods and services in the country, was just below average growth of 2.1 percent seen since the beginning of 2010.

“I know most people say ‘Oh, 2 percent isn’t that great,’ but in the current world it is. Many countries would be envious,” said Beata Caranci, chief economist at TD Economics.

The reading fell short of expectations of economists surveyed by Bloomberg News, who had forecast 2.2 percent annualized growth in the period.

Read more: https://www.washingtonpost.com/news/wonk/wp/2017/01/27/u-s-economy-expanded-1-9-percent-in-fourth-quarter-2016-gdp-rises-1-6-percent/?utm_term=.630eb4c1a7a9&wpisrc=al_alert-COMBO-economy%252Bnation

[forgotmylogin]

1. Trump will claim credit.

"I've been in office a week, and look how great I've done. Presidenting is an easy matter when you're as smart as I am. I barely had to lift a finger."

[Bengus81]

4. Nope...he'll use it to keep bashing Obama and dismantling all he did.

While claiming how much those numbers will rise with him running the show.

[Javaman]

2. in coming months as the economy begins to fail, the commerce dept will undergo a "restructuring"

but trumps propaganda machine. Bet on it.

[cstanleytech]

3. Imagine how much better it could have been had the Republicans not worked to sabotage the country?

[Bengus81]

5. Read this from CNBC..........

" And in their latest economic outlook, forecasters surveyed by the National Association for Business Economics said they expect U.S. gross domestic product to grow by just 2.2 percent for all of 2017.

"The slow pace of growth in recent years may be the 'new normal,' as more than 80 percent of survey panelists estimate that the potential rate of economic growth will be 2.5 percent or lower over the next five years," NABE President Stuart Mackintosh said in a release.

Those forecasts fall short of the growth target that Trump has set. In September, he said his proposed tax cuts and deregulation would add 25 million jobs over 10 years and boost economic growth to 3.5 percent.

"My great economists don't want me to say this, but I think we can do better than that," Trump said in a speech to the Economic Club of New York. "

[TomCADem]

6. I Admit When Trump Won, I Spent Less...

...than planned for Christmas. I did not go full prepper and buy rice and beans, but I certainly tried to be more cautious about my budget due to the uncertainty.

[Coventina]

7. Thanks, Obama.

[ffr]

8. I thought it was a disaster? So Obama's economy wasn't a disaster?

Why didn't anyone in the media spell out that lie during the campaign?

We've been abandoned by our corporate media. They only see us as viewers to their ad revenue.