Measly 1.5% GDP growth...."it worked".....HAHAHAHA!!

[dario73]

1.5% GDP growth (.32% via inventory stocking) for Q2.....yeah, it's "Working" all right.

Republicans seize on weak GDP report, build case to avert 'looming tax hikes'
Published July 27, 2012
FoxNews.com
  
Economic estimates reflecting a weak 1.5 percent growth rate in the second quarter quickly became a political football Friday, as Republicans used the stat to chastise President Obama over his economic policies and bolster warnings about "looming tax hikes" next year.

The Commerce Department reported Friday that the economy grew at the 1.5 percent rate from April to June, as Americans cut back sharply on spending. The rate matched expectations -- but expectations were low.

In a hastily convened conference call, the Mitt Romney campaign pointed to the figure as the latest sign the economy under Obama simply cannot produce enough growth to put millions of jobless Americans back to work.

"It's a picture of a decelerating economy," said Romney economic adviser Dean Glenn Hubbard. "At that pattern, the economy simply will never return to full employment."

A campaign email with a snapshot of the gloomy GDP headlines also poked at Obama's recent "you didn't build that" gaffe. The email was titled: "The Obama Economy: Barack Obama Built This."


Read more: http://www.foxnews.com/politics/2012/07/27/economic-growth-slowed-to-15-percent-rate-in-2nd-quarter-slowest-in-year/#ixzz21pxYhwVj

[Soul Crusher]

Hey let's focus on Romney repeating a concern that was reported in the newspapers! 

[Soul Crusher]

White House on the economy: at least it's still growing
By DONOVAN SLACK |
7/27/12 9:55 AM EDT


The White House chose to focus on the positive when it comes to GDP estimates released Friday.
 
The estimates found economic growth slowed to 1.5 percent last quarter - down from 2 percent the previous quarter and 4.1 percent in the fourth quarter of 2011 -- but the chairman of President Obama's Council of Economic Advisers said that at least it's still growing.
 
"Today’s report shows that the economy posted its twelfth straight quarter of positive growth," Alan B. Krueger wrote in a statement. "Over the last three years, the economy has expanded by 6.7 percent overall, and the private components of GDP have grown by 9.9 percent."
 
Krueger did say that more needs to be done. "While the economy continues to move in the right direction, additional growth is needed to replace the jobs lost in the deep recession that began at the end of 2007."

[dario73]

Typical liberal response. So if in future quarters it grows less than 1% its fine? Eventhough, there will be more high school/college graduates, more illegals and people coming off unemployment benefits that will be looking for jobs.

That response alone shows how stupid that administration is.