The American Economy Is Growing? You Can Thank President Obama

Obama GOP


Bloomberg: Corporate U.S. Healthiest In Decades Under Obama With Lower Debt

Steve Wynn, founder of the Wynn Resorts Ltd. (WYNN) casino empire, once called President Barack Obama’s administration “the greatest wet blanket to business and progress and job creation in my lifetime.” Barry Sternlicht, chief executive officer of Starwood Property Trust Inc. (STWD), said Obamacare was driving down wage growth and “affecting spending and the desire to buy houses and everything else.” Corporate and economic statistics almost six years into his administration paint a different picture. Companies in the Standard & Poor’s 500 (SPX) Index are the healthiest in decades, with the lowest net debt to earnings ratio in at least 24 years, $3.59 trillion in cash and marketable securities, and record earnings per share. They are headed this year toward the fastest average monthly job creation since 1999, manufacturing is recovering and the U.S. has returned as an engine for global growth. The recovery, which stands in contrast to weak growth in Europe and Asia, has underpinned an almost threefold gain in the Standard & Poor’s 500 Index since March 2009.

“The U.S. is leading the way — we’re the only major economy with accelerating growth,” said Mark Zandi, chief economist in West Chester, Pennsylvania, for Moody’s Analytics Inc. and a registered Democrat who has advised both the Obama administration and Senator John McCain, a Republican. “Obama deserves some credit for that, but he probably won’t get it.” Barring any major disruptions, the economy is setting up for Obama to leave office on a high note, said Douglas Brinkley, a presidential historian and professor at Rice University in Houston. “History will eventually show that Obama inherited the Great Recession and resuscitated the economy,” Brinkley said in an interview. One example is General Motors Co. (GM), which last week regained its investment-grade debt rating from Standard & Poor’s only five years after the government-backed bankruptcy. Obama’s $49.5 billion bailout of the automaker in exchange for taxpayers owning 61 percent of the company kept it from being liquidated, an outcome that could have crippled parts suppliers and economies throughout most of 50 states, not just the Midwest. In the broader economy, consumers are buying again and homebuilding is increasing. The unemployment rate has declined to 6.1 percent, the lowest since 2008. The economy expanded at a 4.6 percent annualized rate in April through June. Obama’s 2010 health-care program will hold down consumer prices for years to come as millions of Americans obtain coverage, BNP Paribas SA and Credit Suisse Group AG said. The “Medicare cost miracle” resulted at least in part from Obama’s Patient Protection and Affordable Care Act, Nobel-Prize winning economist Paul Krugman wrote in a Sept. 1 New York times article.

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Steve Benen: Economic Growth Improves To Eight-Year High

The preliminary figures on second-quarter GDP looked good; the revised tally looked better; and the final report looks even better still. The U.S. economy grew at a 4.6% annual pace in the second quarter, matching the best performance since the recession ended in mid-2009. The increase in real gross domestic product was revised up from 4.2%, mainly because of higher exports and business investment, the Commerce Department said Friday. Americans also spent more on health care, but the gain was offset by lower spending on other services. Economists polled by MarketWatch had predicted GDP would be revised up to a seasonally adjusted 4.7%. Consumer spending, the main source of economic activity, was unchanged at 2.5% growth. The biggest gains came in business investment, a good sign for the economy in the months ahead. To provide some additional context, 4.6% growth is tied for the best quarter since the start of the Great Recession.

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117 Responses to “The American Economy Is Growing? You Can Thank President Obama”

  1. 26 Nena20409
    October 6, 2014 at 2:23 pm

    Au ⭐ + ⭐ + ⭐ + ⭐ = Four 😎 Gems
    Congrats Chips.

    Nothing beats Facts!

    Great job NW. The Facts that MSM refuse to tell.
    Vote and Give POTUS a working Congress.

  2. October 6, 2014 at 2:34 pm

    Hi Everyone! Hope you are doing well.

    Anyone notice that Sen. Cory Booker has been MIA for months?

    Maybe it’s just me. I don’t follow him on twitter and I never see him RT’d into my TL.

    • 29 Dudette
      October 6, 2014 at 2:40 pm

      I haven’t seen him on TV, but he tweets regularly.

    • 35 Don
      October 6, 2014 at 2:51 pm

      What does Senator Cory Booker stand for, what is his platform and what is his passion?

    • 36 sjterrid
      October 6, 2014 at 4:47 pm

      Cory Booker has been campaigning very hard with local Democratic candidates running for congress across the state. There could be a chance that Aimee Belgard, running in the 3rd district, could turn this congressional seat blue. Right now the polls have her tied with her opponent. This is a strong republican leaning district.

      • October 6, 2014 at 6:59 pm

        That’s good, but I don’t hear/see anything about it. Not even from political reporters. Weird he would be ignored like that.

        • 38 sjterrid
          October 6, 2014 at 8:42 pm

          I think I saw that Benen had him leading his opponent by 10% in some poll. My Team Leader from my local group, South Jersey Citizens for Change, is now working on the coordinated campaign for Senate and the down ticket congressional races in NJ.

          The political reporters would only make it a story, if they thought his race was close.

  3. 39 Dudette
    October 6, 2014 at 2:39 pm

    • 40 Nena20409
      October 6, 2014 at 2:48 pm

      Only wish the Media could get 1/100th excited, cared about or a tad interested in the Voting Rights for all 18 yrs old and up. Voting affects our democracy….it’s survival.

      I am glad for the LGBTQ community. Life. Liberty. And the Pursuit of Happiness.

      • 41 Dudette
        October 6, 2014 at 2:50 pm


      • October 6, 2014 at 2:56 pm


        i moved recently….and there were items in my basement that i had not gone thru in years….in younger days i was an avid newspaper reader like my nana…and like my nana i used to clip articles of issues of concern to me… i came across this batch of newspaper clippings from the 90s….it was a fascinating find…there was so much dialogue around the issues of Jobs…women…politics…and of course race……some of the headlines could have been from today…

        i know that progress is slow….painfully slow…and i try not to give into despair…but i often wonder if we will ever break down the institutional structures that keep racism in place….

        • 43 Dudette
          October 6, 2014 at 2:58 pm

          You’re not alone.

        • 44 Nena20409
          October 6, 2014 at 3:06 pm

          Change is slow. But change is ONLY possible when Facts connected to root causes, data, and the willing of folks to Make That Change……eg….(for example), LGBTQ. In 2002 ans 2004, GOP was using Gay marriage to win elections. Even in 2012……GOP used Marriage equality to win NC and IN.

          Today, where did all that Hate go? Even the Robert Courts can’t get Kennedy to join them. IMO, Kennedy bargained Voting Rights for Marriage Equality.

          But Race is the biggest Hurdle. Why? We as a nation do not want to expose ourselves and our Institutional Contribution to our Ugly past.
          The treatment of the Japanese Americans, the American Jews, The Irish, German Americans……people are willing to share. But the African Americans and The Native Americans…….remain Taboo and the Painful denial is deeply buried. USA will Never be made whole until ALL Americans are made Whole.

      • 45 57andfemale
        October 6, 2014 at 3:00 pm

        I’ve been to three weddings of gay friends. It is an overwhelming emotion to see these people able to commit openly and legally to each other. Couples that have been together for years. One couple has been together for 30 years. Truly overwhelming emotion.

  4. 46 Nena20409
    October 6, 2014 at 2:44 pm

  5. October 6, 2014 at 2:48 pm

    Extraordinaryyyyyyyyyyyyyyy News…ty NW

  6. 49 Nena20409
    October 6, 2014 at 2:50 pm

    • 50 Don
      October 6, 2014 at 2:56 pm

      I thought ISIS was all about making a political statement, but at the end of the day they are common crooks stealing oil. I guess it cost money to keep the religion con game going.

  7. 51 Nena20409
    October 6, 2014 at 2:53 pm

    • 52 57andfemale
      October 6, 2014 at 2:58 pm

      Correct me if I’m wrong: thanks to the abysmal SCOTUS, no pre-approval for these onerous laws is required, but that the provisions of the Voting Rights Act still apply, albeit after the fact. Does anyone know what the legal burden is to bring charges against these states?

      It’s not going to take much to prove that voters were disenfranchised, I wouldn’t think.

      • 53 Don
        October 6, 2014 at 3:10 pm

        It won’t and shouldn’t take much to bring charges against the states, the states aren’t worried about the charges because they know that SCOTUS will back them up. It is beyond comprehension that SCOTUS is in effect making it harder for people to vote. Voting matters, your life depends on it.

        • 54 57andfemale
          October 6, 2014 at 3:12 pm

          The decision was against pre-approval. The decision actually states that the provisions in the law still stand. Not that you can trust this SCOTUS with truth, reason, law or precedent. But that is how they threaded the needle.

      • 55 Nena20409
        October 6, 2014 at 3:13 pm

        Yep. But the Robert Court has made it political in recent years.
        Dems made foolish bargains with the Dem South. This led to all these disjointed laws across the nation. The right for Woman to vote in 1920 was Never under such canard.

        The Laws were written to target the most affected areas…. mainly the South and some other areas not in the South.

  8. 56 Dudette
    October 6, 2014 at 2:53 pm

    Love her!

  9. 57 yardarm756
    October 6, 2014 at 2:55 pm

    OT-Admiral Chips and all mates. Salutations! I need some help here……I’m not even sure if this will post but here go……Since yesterday tweets that are posted here appear only as plain text. They use to appear all boxed up and could be retweeted from here…….What can I do to get things back the way they were?

  10. 66 Nena20409
    October 6, 2014 at 2:56 pm

  11. 70 Dudette
    October 6, 2014 at 2:57 pm


  12. 75 Dudette
    October 6, 2014 at 3:04 pm

  13. 78 Dudette
    October 6, 2014 at 3:04 pm

    • 79 Nena20409
      October 6, 2014 at 3:24 pm

      I try not to agree with Ben A. He was and is right on this one.

      Bill Maher, a proclaimed Atheist who was raised Roman Catholic. His father was a RC. His mother, a Jewish lady.
      I don’t know how BM felt during the time US and Irish Americans were supporting Northern Ireland and their struggle against UK. But then, Kennedy and Co were all in. I was a sympathetic supporter too….full disclosure.

      The Roman Catholics in US has not always been 100% in with the Protestants……..but none was condemned publicly for raising money and supporting those fighting nor were Irish Americans accused of supporting “terrorist”.

      Bill Maher may not think that his comments were bigoted and racist. But they were and are as he is now claiming that he wants LIBERALS to get in line with their Ideals. Bull effing bat poop.

  14. 81 donna dem 4 obama
    October 6, 2014 at 3:08 pm

  15. 82 57andfemale
    October 6, 2014 at 3:09 pm

    • 83 Don
      October 6, 2014 at 3:14 pm

      Shouldn’t this guy be huddled up with his lawyers trying to figure out how to stay out of prison, fuck tryin to ban marriages, he should trying to interview lawyers.

      • 84 57andfemale
        October 6, 2014 at 3:45 pm

        I am so deeply ashamed of my home state.

        He is delusional enough to think that laws won’t apply to him. And until we see him perp-walked, he may just be right, the state of affairs being what they are in the good ol’ U.S.

        • 85 Dudette
          October 6, 2014 at 3:50 pm

          Got to GET OUT THE VOTE! It’s imperative!

          • 86 57andfemale
            October 6, 2014 at 3:52 pm

            I’m going to phone bank this weekend. Wherever I’m needed. If I wasn’t in constant pain, I’d canvas. But I’ll do the best I can.

            I’m not that great at phone banking, but I’ll do what I can.

            • 87 Dudette
              October 6, 2014 at 3:57 pm

              Every little bit helps, friend. Sorry about the pain you’re in. Hope there’s some way to get relief.

  16. 88 donna dem 4 obama
    October 6, 2014 at 3:21 pm

  17. 89 Dudette
    October 6, 2014 at 3:21 pm

  18. 94 Nena20409
    October 6, 2014 at 3:27 pm

  19. 95 Nena20409
    October 6, 2014 at 3:30 pm

  20. 96 Nena20409
    October 6, 2014 at 3:32 pm

    USA is NOT the only nation who has treated people with Ebola……..do you that US Media?

  21. 97 Nena20409
    October 6, 2014 at 3:42 pm

    I posted NFL despicable nonsense. Well, CNN….the self proclaimed: The Most Trusted Name In The News Business has this………

    What a lost Pioneer Cable News.

  22. 98 Nena20409
    October 6, 2014 at 3:48 pm

    If Dems VOTE, Dems Win. That simple.

  23. 99 Dudette
    October 6, 2014 at 3:49 pm

    Somebody should do this with payphone boxes in this country — at least the ones that haven’t been ripped down.

  24. 100 Dudette
    October 6, 2014 at 3:52 pm

    Yo Tennessee!

  25. 101 Dudette
    October 6, 2014 at 3:53 pm

    Something for you cat people out there! 😀

  26. 104 Nena20409
    October 6, 2014 at 4:00 pm

  27. 105 JER
    October 6, 2014 at 4:00 pm

  28. 106 Dudette
    October 6, 2014 at 4:01 pm

    Yes, I would watch Goldie on her OWN show. [see what I did there? did ya?] 🙂

  29. 107 Dudette
    October 6, 2014 at 4:02 pm

    Way way, way off topic, but what a cool picture…

  30. 108 Dudette
    October 6, 2014 at 4:16 pm

  31. 109 Nena20409
    October 6, 2014 at 4:22 pm

  32. 110 Dudette
    October 6, 2014 at 4:27 pm

  33. 111 Dudette
    October 6, 2014 at 4:32 pm

    Like the rest of us, she’s just a squirrel trying to get a nut! 😀

  34. 116 JER
    October 6, 2014 at 4:59 pm

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