The GOP says Obama is destroying business and our only savior will be to cut taxes on the wealthy and coporations
And the Teabaggers buy it hook line and siker. Talk about delusional. DOW poised to blast through it's record high this coming week while companies report record profits.
Just four years after the worst shock to the economy since the Great Depression, U.S. corporate profits are stronger than ever.
In the third quarter, corporate earnings were $1.75 trillion, up 18.6% from a year ago, according to last week's gross domestic product report. That took after-tax profits to their greatest percentage of GDP in history.
The red state, right to work for less pukes, refuse to believe the economy is steadily getting better as they look out their dirt covered trailer windows at all their neighbors who can't afford to buy a car that actually runs, to go their Walmart job. Its called having a window on the world that doesn't allow you to see past your own block.
I would like to dispute your GDP negative growth with some facts. On 2-28-2013 the GDP for the fourth quarter of 2012 was revised to .1% growth after all the information had come in. They do not have all the information when they release the preliminary number that you are quoting. This is the final number.
EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, THURSDAY, FEBRUARY 28, 2013BEA 13-06
Lisa S. Mataloni: (202) 606-5304 (GDP)
Recorded message: (202) 606-5306
Ralph Stewart: (202) 606-2649 (News Media)
Jeannine Aversa: (202) 606-2649 (News Media)
National Income and Product Accounts
Gross Domestic Product, 4th quarter and annual 2012 (second estimate)
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 0.1 percent in the fourth quarter of 2012
(that is, from the third quarter to the fourth quarter), according to the "second" estimate released by the
Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent.
The GDP estimate released today is based on more complete source data than were available for
the "advance" estimate issued last month. In the advance estimate, real GDP declined 0.1 percent. The
upward revision to the percent change in real GDP is smaller than the average revision from the advance
to second estimate of 0.5 percentage point. While today’s release has revised the direction of change in
real GDP, the general picture of the economy for the fourth quarter remains largely the same as what
was presented last month (for more information, see "Revisions" on page 3).
The increase in real GDP in the fourth quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), nonresidential