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DallasNE

(7,392 posts)
4. GDP Growth For The Current Quarter
Mon Jul 22, 2013, 09:28 AM
Jul 2013

Is expected to come in at a putrid 1%. Some are claiming that the 4th quarter should show more growth but I don't see where that will come from. Indeed, because of the sequester, I have been saying since it was allowed to kick in on March 1st that in the 4th quarter we would likely see the economy slip into recession during the holiday season. I see no reason to adjust my March prediction. Bernanke has been sending out alarms and the recently completed G20 summit in Russia put out a message of deficit spending to stimulate the world economies so Obama has plenty of tailwind for taking this message out into the country. A new fiscal year starts October 1st and while both houses have passed a budget the two chambers have not agreed to meet to work out the differences. Since Congress will soon go into recess until after Labor Day there will only be 3 weeks to come up with something or face a government shutdown. Normally Congress would pass a continuing resolution to keep the government running and the House could well do that because that would keep the sequester in place, something the President has promised to veto, so a shutdown is more likely than with the recent artificial "cliff" conditions. The other half of the one-two punch is the debt ceiling that will be hit at the same time. How much will Congress dither when staring in the face of a recession? My guess is aplenty.

Hopefully he can channel some of the passion in his "race speech" to the issues Doctor_J Jul 2013 #1
At this point in the game, he should just coast, as his speeches are enough to make people cry. Safetykitten Jul 2013 #2
The economy has improved "since" he became President. JoePhilly Jul 2013 #3
Another 'liberal' who misses the days of George W Bush. nt geek tragedy Jul 2013 #10
That nonsense about 'missing' bush is gotten a little old and shopworn. No onel matthews Jul 2013 #11
"the reality of what the nation has become since he has been President should make him cry" geek tragedy Jul 2013 #13
Neither is anyone who favors putting the safety net up for cuts, matthews Jul 2013 #17
"continuing to loot the Social Security trust fund" geek tragedy Jul 2013 #18
Real good comeback you got there. matthews Jul 2013 #20
U mad bro? nt geek tragedy Jul 2013 #21
No, not at all. Just disappointed and dismayed at the juvenile level of conversation matthews Jul 2013 #23
Well said. woo me with science Jul 2013 #26
It's wasted on the Fan Club Doctor_J Jul 2013 #24
Apparently so. Someone asked me for 'proof' the other day that the NSA is matthews Jul 2013 #25
GDP Growth For The Current Quarter DallasNE Jul 2013 #4
You know what scares me even more than Congressional obstruction? matthews Jul 2013 #12
Summers Know His Stuff DallasNE Jul 2013 #16
NOTHING good has ever come from anything old Larry has ever touched. matthews Jul 2013 #19
Doing what he does best, give speeches. Arctic Dave Jul 2013 #5
+1 forestpath Jul 2013 #9
He should be on the attack about the filibuster and Boehner's House of Rep being bogged down! dmosh42 Jul 2013 #6
Among other things. Here is what I would like to see him do Doctor_J Jul 2013 #7
Agreed, but unfortunately our Dem leaders are pretty passive on the important issues. dmosh42 Jul 2013 #8
First think I'd like to see him do is CANCEL all these trade treaties and pacts. matthews Jul 2013 #14
He can do that second Doctor_J Jul 2013 #15
And what issue would that be? He's already given a bye to the business mandate matthews Jul 2013 #22
Been here one week, and you already got a post hidden Kolesar Jul 2013 #27
Well aren't you just the cleverest little thing? I supposed you think that's matthews Jul 2013 #29
Mr. Returnee...eom Kolesar Jul 2013 #30
I'm just crushed sweetie. I just don't KNOW how I'll get along without matthews Jul 2013 #32
Nobody is forcing you to participate here Kolesar Jul 2013 #33
I am going to improve the way I'm spending my time. matthews Jul 2013 #36
Do you run this place? Does everyone give a damn what you think? matthews Jul 2013 #38
Bwahahahaha! I must be in Fan Club Central. matthews Jul 2013 #34
Your second paragraph is a lie Kolesar Jul 2013 #28
NONE of what I said is a lie. And I prefer Bloomberg, matthews Jul 2013 #31
Mr. WSJ Kolesar Jul 2013 #35
I'll be damned, I did. But I didn't get it from the matthews Jul 2013 #37
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