No Reason to Panic Over Lackluster Growth

Neil Irwin assures us that there is “no reason to panic” about the Commerce Department’s lackluster report showing 0.1 percent GDP growth rate for the first quarter.

“Above all, this report helps highlight how the complexion of U.S. economic growth is changing.”

“In short: Business investment is no longer a significant driver of the expansion. And nothing else (government spending, trade, housing) has emerged to replace it.”

“Personal consumption, the biggest component of G.D.P., has been the mainstay of this expansion, growing steadily every quarter, driven by Americans’ appetites for goods and services. Personal consumption has risen by at least a 1.5 percent annual rate for 17 straight quarters. It shows no signs of faltering.”

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    The Republican party has done a huge disservice to itself, for taking the position against the unemployment extension bill in the senate. With 2.6 Million angry potential voters having been affected by their refusal to pass the bill; the coming election will prove to be the Republican’s downfall. These families were left hung out to dry since late last December, and they will not forget the anguish that they have suffered because of it. Many of these families have become ruined financially, they have witnessed their credit being destroyed, they have faced evictions, home foreclosures, personal bankruptcy, and homelessness. How can they not forget which party was at fault for this? The Republicans have been using these families for political leverage, and bargaining chips, to further their party’s political agenda. They have shown their party’s true distain for the Average American family, and the suffering that these families have been going through being jobless without benefits to support their children. Senators like John Boehner are what makes the Republican party look bad in the people’s eyes. As a “FORMER” Republican of many years, I can honestly say that I will NEVER vote for another Republican again, and actively persuade my friends and family not to likewise. The Republican party will find itself VOTED OUT in the next election

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