We are being lied to to such a level that it makes my blood boil. Not only did Q2 2011 come in at an anemic 1.3%, but what was far bigger news to me is that the Q1 GDP was revised downward to only 0.4% from the original 1.9%. That's a 450% cut from the original. How pray tell are we supposed to trust the numbers the government is giving us at this point? In fact, how do we trust that the Q2 1.3% number isn't also an outright lie and that the actual GDP is less than 0? In fact, what's keeping that Q1 0.4% from being revised downward again in the future along with the Q2 number such that we are technically in a recession right now but one that the current regime doesn't want to admit to?
From CNBC:
Economy Grows at Sluggish 1.3%; Consumers Pull Back. The key word? '
Unexpected":
The U.S. economy grew less than expected in the second quarter as consumer spending barely rose, and growth braked sharply in the prior quarter, a government report showed on Friday.
Growth in gross domestic product—a measure of all goods and services produced within U.S. borders—rose at a 1.3 percent annual rate, the Commerce Department said.
First-quarter output was sharply revised down to a 0.4 percent pace from 1.9 percent.
We're being hoodwinked. Banboozled. Flat out lied to. There is no excuse for that large of a downward revision except that Obama doesn't want us knowing how bad it is out there. That wasn't the only downward revision however:
In addition, fourth-quarter growth was revised down to a 2.3 percent pace from 3.1 percent, indicating that the economy had already started slowing before the high gasoline prices and supply chain disruptions from Japan hit.
I would be remiss if I didn't mention that OBAMA WANTS THOSE HIGH GAS PRICES AND CAUSED THEM! Once elected, Obama went right to war with oil, so vehemently that a federal judge found Obama in contempt for usurping the US Constitution:
Shocker: Judge holds Obama regime in contempt over illegal drilling ban. That coupled with Obama's incompetence at any semblance of
foreign policy is setting up a nightmare scenario for
oil prices that will hurt our economy. Gas is already above $4 a gallon here in Michigan and most expect that the $5 threshold will be breached across the nation this year (From The Detroit Free Press:
Is $5-a-gallon coming soon?). High gas
prices are exactly what Democrats and Obama want. O said so himself:
Flashback 2008: Obama says he wants gas prices to go upHope and change indeed...
for the worse.
UPDATE. More at
memeorandum. And from
Pajamas Media, Gateway Pundit, Hot Air, The Right Scoop,
Outside the Beltway, American Thinker, Don Surber and RedState
