U.S. economy grew at a rate of 5 percent in third quarter, the fastest in more than a decade
By Chico Harlan December 23 at 10:45 AM
Follow @chicoharlan
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FIND: whale12345 in the following text for comments by William Hale, aka, haji Mohammed A. Omar, & Mekkah, aka, Liberty, the Afghan Hound, ADA Service K9 trained to run beside the bicycle to reduce obesity, promote cardiovascular health and break screen hypnosis.
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The U.S. economy grew at its fastest rate in more than a decade between the months of July and October, according to government data released Tuesday morning, marking the latest sign that a once-sluggish recovery is now running at full speed.
The Commerce Department said gross domestic product growth hit an annualized rate of 5 percent in the third quarter, revised upward from the previous estimate of 3.9 percent. Not since 2003 has the economy expanded so quickly.
The better-than-expected GDP numbers helped push the Dow Jones Industrial Average above 18,000 for the first time, the latest in a series of record highs. The S&P 500 also edged up.
Economists say the United States is showing signs of a virtuous cycle in which workers can find suitable jobs that pay well and allow them to spend money. A year of robust labor market growth has been helped by falling oil prices, which amounts to a de facto tax cut and saves consumers hundreds annually at the pump.
The latest third-quarter estimate rose “for all the right reasons, notably stronger domestic demand,” Diane Swonk, chief economist at Mesirow Financial, wrote in a blog post. The contribution of consumer spending was revised upward by 0.7 percent from the previous Commerce Department estimate, given last month. Business investment was revised upward by 0.2 percent.
“Indeed, depending on the outcome for the fourth quarter, growth for the year could now surpass 2.5 percent, which is much better than anyone expected just a month ago,” Swonk wrote.
At an annualized rate, consumer spending was up in the third quarter by 2.3 percent. That spending accounts for about two-thirds of the GDP. Though incomes have stagnated for years among the middle and lower classes, there were nascent signs of wage growth last month, and households have deleveraged bad debt that held them back in the wake of the financial crisis.
Consumer sentiment is at a post-recession high, and the nation has seen its best year of hiring in 15 years. The latest six months of expansion suggest that a surprisingly poor first quarter performance — when the GDP shrank 2.1 percent — was an anomaly, likely the result of miserable East Coast winter weather that kept consumers indoors.

Economists think the run of good news could spill into the fourth quarter, paving the way for the sharpest U.S. expansion since the recession.
Personal consumption was up 3.2 percent in the third quarter.
For quarterly gross domestic product, which measures all goods and services produces, the U.S. government releases an initial estimate, and then two revisions. This was the second of those revisions.
The 5 percent growth follows a strong 4.6 percent expansion in the second quarter. GDP growth has hit 3.5 percent or higher in four of the last five quarters.
“We’re not going to stay at 5 percent, but those last five quarters, it’s a sign that we’ve worked through all the factors that have been dragging down the recovery,” said Gus Faucher, a senior economist at PCN Financial Services Group.
Economists say the U.S. economy appears to have enough momentum to weather slowdowns in Japan and China and lackluster growth in Europe. Oil prices, which were sliding this summer but began a freefall in November, will provide an even bigger boost in the fourth quarter, amounting to billions in savings for American consumers. PNC forecasts that annual GDP growth will end up at 2.3 percent in 2014 and then rise to 3.3 percent in 2015.
The nation’s economy is also helped by the fact that state and local governments have weathered a period of austerity and are again contributing to expansion. State and local expenditures and investment were up 1.1 percent annually in the third quarter, following a 3.4 percent expansion in the second quarter.The federal government, too, after two years of tightening and sequestration, is again giving the economy a lift: Its spending was up 9.9 percent in the third quarter. Such figures can fluctuate heavily from quarter to quarter, but economists say the government is unlikely to be a drag over the next year.
Chico Harlan covers personal economics as part of The Post’s financial team.
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1613 Comments
whale12345
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diatomic
12:34 PM PST
All you need to know about the psychology of dittoheads, from below:
“My 6 year old neice was killed by an Obama drone strike”
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2
Cath Fairfax
12:35 PM PST [Edited]
lololol !
bummer, man.
Six is such a Tender Age.
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We-Need-More-Non-Binding-Resolutions
12:38 PM PST
“In Pakistan alone, TBIJ estimates, between 416 and 951 civilians, including 168 to 200 children, have been killed.”
How sad is it that liberals laugh at the killing of innocnent children! Truly pathetic!
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Cath Fairfax
12:38 PM PST
Probably wasn’t much left of her.
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billyvw
12:27 PM PST
Keep that outrage fueled, conservatives. It’s all you’ve got any more. Too bad its based on lies and endless dreams of boogie-men under your bed.
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2
We-Need-More-Non-Binding-Resolutions
12:29 PM PST
Let me guess, you still think Romney hasn’t paid his taxes! LOL!!!
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Cath Fairfax
12:30 PM PST
Let me guess — you still think he HAS!!!
LoLoL.
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We-Need-More-Non-Binding-Resolutions
12:31 PM PST
No proof to suggest he hasn’t. But dont let liberal lies stop you from spreading your hate and fear.
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Cath Fairfax
12:31 PM PST
Don’t let Good News stop you from Whining.
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diatomic
12:33 PM PST
You claim Obama killed your niece with a drone then accuse others of lying?
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We-Need-More-Non-Binding-Resolutions
12:33 PM PST
Prove me wrong…diatomic…
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Cath Fairfax
12:35 PM PST
Request Denied.
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whale12345
12:35 PM PST
Taxes are primitive, drag ’em by the hair back to the cave methods. Automatic licensing fees [thn\] for use of government issued transferable receipts of sovereign authority (forgiveness for all debts public and private) is the modern way to automatically harvest revenue for national treasuries. Who is doing that now between the cracks with inflation some, but who hasn’t rolled it out as a replacement for taxes yet. It takes a really professional sports model roll out, and a fast paced games, with good schedules and winning teams and the whole thing hummus along. In shall la, Independence willing, who hopes.
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We-Need-More-Non-Binding-Resolutions
12:35 PM PST
LOL, Cath once again shows her lack of intelligence.
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diatomic
12:35 PM PST
I can’t – that’s why I think you are lying. You claim you changed doctors because of ACA – don’t you appreciate the expanded coverage? The lower cost? You add no context or proof.
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diatomic
12:36 PM PST
And again: If your taxes went up it means you are in the top 4% so how are you hurting economically. The Bush tax cuts were legislated to end by the GOP as part of THE REFORM AND RECONCILIATION ACTS in 2010 and Obama extended them for 96%.
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Cath Fairfax
12:27 PM PST
ohhh! — so THIS is Marxist-Kenyan-Socialism.
i finally “get it” now.
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We-Need-More-Non-Binding-Resolutions
12:30 PM PST
No, I do not believe you do! If you did, you wouldn’t make your comment.
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Cath Fairfax
12:31 PM PST
I do and I did.
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We-Need-More-Non-Binding-Resolutions
12:31 PM PST
Again, thank you for proving my point.
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Cath Fairfax
12:32 PM PST
My Pleasure, as always.
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whale12345
12:31 PM PST
Marx = orthodox Christianity; xref: Orthodox Juedism: you secularise your holy scripture for public use, ergo Marxist never mention Christ.
Kenyan – Ha, Ha. mobile labor force assumption is not being made possible enough. NPV time release allowances will remedy that. xref: who likes to keep whom in buffalo ruts of relatively unimportant tasks so public balance sheets are not crowd sourced, etc.
SoCIA Lism ? A word for when there is not sufficient pro-forma budget in the public sector to keep everyone so busy private ownership in the private sector is a God send to supply the public sector demand (s)
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whale12345
12:26 PM PST
$20,000 billion or trillion M3 money supply?
http://www.nowandfutures.com/key_stats.html
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whale12345
12:27 PM PST
Finally and to put M3 into proper perspective with inflation (as measured by CPPI), the M3 and M2 strong inflation link is virtually unquestionable. The longer term inflation picture is clear, although M2 shows a pause and likely temporary disinflation as of 2008. Certain bloggers are incorrect and have continually avoided these facts and the linked chart.
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c2140156
12:23 PM PST [Edited]
Home prices on the rise in Greenwich, thank you Dems.
$1 fire sales in Detroit…
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diatomic
12:25 PM PST
How specifically have you been negatively impacted by economic policies you object?
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diatomic
12:27 PM PST
No can do? It’s a simple question.
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We-Need-More-Non-Binding-Resolutions
12:32 PM PST
What policies…I though Republican stopped everything Democrats put forth…
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Cath Fairfax
12:22 PM PST
This is the worst Day in the “conservative’s” Life.
till Tomorrow.
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2
billyvw
12:23 PM PST
They’ll just wait with neverending hope for more bad news from Fox.
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whale12345
12:23 PM PST
“Conserve & expand recycling capacity. Can we make this prayer spot last another 600000000years.wordpress.com?
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We-Need-More-Non-Binding-Resolutions
12:20 PM PST
This clip sums up liberals pretty darn well:
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Cath Fairfax
12:20 PM PST
Cling, Baby, Cling.
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diatomic
12:22 PM PST
How have you been negatively impacted by “liberal policies” you didn’t define below?
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We-Need-More-Non-Binding-Resolutions
12:27 PM PST
I have been redeployed to Iraq, after Obama claimed victory
Majority of my friends have been killed in Afghanistan thanks to obama’s flawed and misguided strategy.
My 6 year old neice was killed by an Obama drone strike
I have lost my doctor, after signing up for Obamacare
My taxes have been increased
Shall I continue?
My mom lost her job to an illegal who should have been deported
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Cath Fairfax
12:28 PM PST
wow – bummer, man.
:cD
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diatomic
12:30 PM PST
If your taxes went up it means you are in the top 4% so how are you hurting economically. The Bush tax cuts were legislated to end by the GOP as part of THE REFORM AND RECONCILIATION ACTS in 2010 and Obama extended them for 96%.
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diatomic
12:32 PM PST
Your niece dying by drone sounds like BS as does everthing else. How hard is it to see you listen to Rush, watch FOX and can’t give context to your own opinions?
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Lorindigo
12:20 PM PST
Things Democratic policies have done to stimulate the economy:
Invested in infrastructure.
Extended unemployment benefits
Drew down troops in Iraq
Invested in biomedical R&D
Economic stimulus package that resulted in a net gain and a slowing down of the crash.
Healthcare for 10 million Americans.
Investing in tech and energy R&D
(I’m not an economist, so others without biased blinders on should help me out here)
Things Republicans have done to harm the economy and greater good:
Widened the wealth gap by giving more tax breaks to people who already had more money than they can spend.
Deregulating controls on pollution and risky or dangerous business practices
Reducing investment in alternative energy, R&D, and biomedical research.
Outright lying about global climate change.
Outright lying about health impacts of various air and water pollutants.
Attempting to block any change that would allow more Americans to receive healthcare.
Trying to distract and divide Americans by focusing on idiotic non-issues like gay marriage.
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whale12345
12:22 PM PST
Words without numbers and numbers without words. At least one example of the two together to inspire whom to do some research; xref; private calculations of M3?
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We-Need-More-Non-Binding-Resolutions
12:28 PM PST
Straight from MSNBC mouths to your fingertips!
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Lorindigo
12:31 PM PST
More meaningless liberal-bashing with no actual substance.
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everknew
12:20 PM PST
We cant afford much more of Obama’s saving the economy, providing and lowering the cost of health insurance , conserving billions of barrels of oil, protecting the environment, ending and not starting new wars, normalizing relations with Cuba, forcing Congress to act on immigration, shutting down Russia’s economy, coming out of every republican half baked conspiracy squeaky clean….surely it’s time to impeach him before he’s recognized as one of the greatest presidents of all time.
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3
Cath Fairfax
12:19 PM PST
Don’t be Late for Work next month, Republicans.
We don’t like to be kept waiting.
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1
billyvw
12:18 PM PST
The Republican mind: If I don’t want it to be true, it must not be true.
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We-Need-More-Non-Binding-Resolutions
12:19 PM PST
The liberal mind: If I shut my eyes, it’s not happening.
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billyvw
12:19 PM PST
Who’s the one denying the evidence presented?
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Cath Fairfax
12:21 PM PST
like Climate-Change.
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c2140156
12:20 PM PST
“See no evil, hear no evil, speak no evil”
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billyvw
12:21 PM PST
I criticize Obama for the bad things he does, like drone assassination. However, I’ll also give him credit for the good things he does, like keep our economy going. That is different from conservatives, who will yell shrilly about any negative and ignore absolutely any positive.
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c2140156
12:16 PM PST [Edited]
Google “Fed M3”. The government has stopped releasing a key money supply figure since 2006.
*does anyone remember “Helicopter Ben”?
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whale12345
12:17 PM PST
xref: propellers
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whale12345
12:18 PM PST
Also xref: “Avalanche! Send in the helicopters! Mt. Rescue. St. Bernards,” xref: “Who won by an [scroll moves]…
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c2140156
12:14 PM PST
If you believe press releases from the Fed, I’ve got a bridge somewhere, and I’m taking offers.
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We-Need-More-Non-Binding-Resolutions
12:15 PM PST
Liberals own a lot of bridges
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billyvw
12:16 PM PST
Unless its bad news, then I’ll shout it from the rafters!!
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valley-jeff
12:18 PM PST
Good point. Somehow bad news is always so credible.
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whale12345
12:17 PM PST
xref: bridge to nowhere and the need to be able to evacuate large numbers of people quickly to “nowhere” until it is safe to return to the contaminated env [scroll moves] xref: negligent governance for failure to conduct civil defense evacuation drills, certification for keys to cd vehicles, and more…
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Lorindigo
12:23 PM PST
Ah. Republican strategy 1 and 1a, from below, right on schedule.
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whale12345
12:06 PM PST [Edited]
Missing a post here.
The less liquid asset holders on the side lines absorbed a LOT of money and their employees and social networks reinvested and drove up stock prices.
Now we face the tranche who is more liquid, and needs a faster money velocity and in whose hands unrestricted funds cause inflation.
The step we are still missing is adding a deeper keel to the ships of state. Much deeper keels. xref: $10^18 problems need $10^21 solutions… xref: XP forehead to forehead touch with the president of Indonesia subsequent to broadening that range to include up to $10^42 solutions; xref: A billion people X ? decisions per person to manage…
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whale12345
12:15 PM PST
Deeper keels = the national treasury of each IMF member signing on to the red nova solutions economy and recognizing NPV thereof and then encumbering a small portion thereof to underwrite an SDR tranche to back a market basket of currencies [thn\] to be minted and deposited in the World Bank and Asian World Bank in covenanted trust funds for each IMF member to get an allowance capped by the terms of the trusts. Sovereign duties, chores, performance bonds, peace bonds, and NATIONAL Treasury citizen NPV trust funds for each and every citizen of each IMF member [scroll moves] come with it…
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Citi-Street
12:03 PM PST [Edited]
President Obama will be in a great position to hand off to his successor, HRC or whichever Democrat wins its party’s primary, the key to the Oval Office along with a booming economy very much unlike the one he inherited from the previous Republican administration.
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We-Need-More-Non-Binding-Resolutions
12:05 PM PST
Dont forget the do nothing Democrat congress Bush was stuck with. Funny how little they did to prevent to the economy from failing.
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tigman_2
12:06 PM PST
Dufus…
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We-Need-More-Non-Binding-Resolutions
12:07 PM PST
So what did Pelosi and Reid do, exactly!
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valley-jeff
12:10 PM PST [Edited]
Funny how the government is supposed to just stay out of the way. Regulations are bad. Government is inefficient and incompetent.
All that goes out the window when it’s convenient, I guess. Why didn’t Congress *do* something.
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We-Need-More-Non-Binding-Resolutions
12:13 PM PST
You claim it should…so why didn’t they do anything?
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valley-jeff
12:15 PM PST [Edited]
Good question. Perhaps they were listening to the laissez-faire crowd much more than they should have been.
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We-Need-More-Non-Binding-Resolutions
12:18 PM PST
But more to the point., liberals confuse the conservative argument of a smaller government. this is done to mislead voters, usually the not so smart ones that rely on government subisidies (i.e. inner city welfare and minorities). more educated voted understand the difference and vote the RIGHT way.
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valley-jeff
12:20 PM PST
It’s so much easier to build up a strawman argument about who votes for the GOP, or not, and knock it down. I can see why you do it.
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tigman_2
12:00 PM PST [Edited]
When GOP took house they threatened default, let stimulus run dry, offered zero fiscal stimulus the Fed took over. And GO P cried about that too
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We-Need-More-Non-Binding-Resolutions
12:00 PM PST
Let the stimulus run dry? LOL!!!!!
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tigman_2
12:06 PM PST
Bond buying was GOP salvation
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whale12345
12:00 PM PST
Mr. Farmer vs. Mr. Rivet
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whale12345
11:56 AM PST
Why Sovereign NPV discount rates can be < 0
https://600000000years.wordpress.com/2014/12/23/why…
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cmsatown
11:56 AM PST
highest growth in decades…58 straight weeks of growth..record stock markets..rising home values..5.9% unemployment..lowering deficit..
brought to you by the muslim kenyan socialist who hates America and lied about Benghazi ..
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c2140156
11:59 AM PST [Edited]
Yeah, unemployment is less than 3% in… North Dakota, but certainly not in Detroit.
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tigman_2
12:03 PM PST
So?
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c2140156
12:07 PM PST
Employment statistics are complete BS. People can’t find work in Nebraska or Utah, with full employment (3%) on paper.
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We-Need-More-Non-Binding-Resolutions
12:10 PM PST
The good thing is, Obama want to add millions more of illegals to the official jobforce. So that’s good news!
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We-Need-More-Non-Binding-Resolutions
12:00 PM PST
Liberals can’t point to one policy of Obama’s that has had a positive impact on our Country.
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tigman_2
12:02 PM PST
Goober
You hate the ones we point to and u won’t admit that at least in spite of them things are getting better. You make no sense.
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We-Need-More-Non-Binding-Resolutions
12:03 PM PST
point to one. One …that has a positive impact.
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foxxy1
12:07 PM PST
Accelerated depreciation right off’s tax credits for hiring vets
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foxxy1
12:08 PM PST
Auto bailout college student loan payoff reductions lowest tax rates his first four years in office then in the past 50 years
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We-Need-More-Non-Binding-Resolutions
12:11 PM PST
wait, you are claiming the bush tax cuts are an Obama policy success? LOL!!!!
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whale12345
12:04 PM PST
The less liquid asset holders on the side lines absorbed a LOT of money and their employees and social networks reinvested and drove up stock prices.
Now we face the tranche who is more liquid, and needs a faster money velocity and in whose hands unrestricted funds cause inflation.
The step we are still missing is adding a deeper keel to the ships of state. Much deeper keels. xref: $10^18 problems need $10^21 solutions… xref: HJ forehead to forehead touch with the president of Indonesia subsequent to broadening that range to include up to $10^42 solutions; xref: A billion people X ? decisions per person to manage…
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Lorindigo
11:55 AM PST
Republican strategy:
1) When good news strikes during a Democratic presidency-deny that it’s good news.
1a) If that fails, just doggedly attack the intelligence of anyone who believes the good news without offering any specifics.
1b) If that fails, give the credit for the good news to the R’s.
2) Claim all bad news during R presidencies are the fault of the future D president.
2a) If that fails, resort to 1a and 1b above.
3) When pesky science, fact, or math get in the way of your agenda, discredit all centers of higher education as “liberal propaganda machines,” and doggedly attack the intelligence of anyone who believes them.
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We-Need-More-Non-Binding-Resolutions
11:59 AM PST
isn’t that what Democrats do as well?
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valley-jeff
12:00 PM PST
At least you admit that’s the GOP’s strategy. That’s progress!
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We-Need-More-Non-Binding-Resolutions
12:06 PM PST
you clearly miss the point.
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valley-jeff
12:06 PM PST [Edited]
No, I understand exactly what you’re trying to say. In the process of saying it, however, you implicitly admitted that is what the GOP does. I was just pointing it out to you.
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We-Need-More-Non-Binding-Resolutions
12:07 PM PST
I dont think you do.
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valley-jeff
12:07 PM PST
You are entitled to believe whatever you wish.
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We-Need-More-Non-Binding-Resolutions
11:52 AM PST
Liberal Logic: Everything good = liberal; Everything bad = conservative.
Yet, when you look at the impact of their policies, the complete opposite is true.
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justadog222
11:54 AM PST
Winger logic — everything is absolute … in my head.
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valley-jeff
11:54 AM PST
From the poster who claims the economic good news was a result of people “hoping” for a GOP controlled Congress. Pot, meet kettle.
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We-Need-More-Non-Binding-Resolutions
11:55 AM PST
truth hurts I guess.
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valley-jeff
11:57 AM PST
Well, I’m sorry about that, but someone had to point it out to you.
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We-Need-More-Non-Binding-Resolutions
11:58 AM PST
I hurts you, not me. you do understand that.
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valley-jeff
11:59 AM PST
Umm, no. But thanks for being so concerned.
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We-Need-More-Non-Binding-Resolutions
12:06 PM PST
LOL, yes…want me to draw it in crayon for you…
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jwotal
11:52 AM PST
God Bless President Barack Obama for making the U.S. economy achieve a 5% growth rate. Despite the best efforts of Congressional republicans who have fought to hold back U.S. economic growth and to shut down the U.S. economy, our leader President Barack Obama deserves all of the credit for this one.
Imagine what a disaster the U.S. economy would be in if the Republicans had won the White House in 2012. Look at how the Republicans have screwed things up in the House of Representatives.
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We-Need-More-Non-Binding-Resolutions
11:54 AM PST
God Bless Obama for claiming victory in Iraq, only to have to send troops BACK into Iraq….oooppps!
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jwotal
11:59 AM PST
Sorry, but don’t you teabags wingnuts, ever get your facts correct.
It was President ding-dong, George Bush, who claimed victory in Iraq back in 2003.
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diatomic
12:00 PM PST
Where did you fight in Iraq We-Need?
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everknew
12:11 PM PST
In the Bush/Cheney unnecessary and purely political war, over 1,000,000 US troops served , 4,500 US dead, over 32,000 wounded, estimated cost over time including medical care in the trillions, over 100,000 Iraqi civilians killed. Outcome, Shiite government kicked the US out, now allied with Iran, repressive governmental policies have alienated Sunnis, country now likely to break apart into 3 factions. Now I dont know the exact figures on current troops or cost, but the basic difference is that the Iraqis, and indeed most of the Middle East begged us to help THEM fight THEIR war.
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c2140156
12:01 PM PST [Edited]
Except 1) you don’t believe in God, and 2) growth will be less than 3% annual rate next year, per Fed estimate.
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Lorindigo
12:02 PM PST
What (in god’s name) does God have to do with it?
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diatomic
12:02 PM PST [Edited]
What a sour unhappy comment c21.
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SpinMeister
11:51 AM PST
History will smile on Mr. Obama…he’s not even done yet, and it’s this good 6 yr. after the Great Bush Recession. (All Bush’s end in Recession)
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c2140156
11:56 AM PST
Bush wasn’t president in 2009 but thanks for playing. Unless you blame Clinton for 2001 recession, and then we are even.
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CoreyinSavannah
11:59 AM PST
Lehman Brothers collapsed in September 2008 when Bush was president.
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patriot17
11:51 AM PST
If you go back a 3 years and read one of Ezra Klein’s articles, he makes the case, based on statistics about growth and what policies/political parties were in control at the time, that the economy rebounds regardless of who’s in charge and whether they apply Keynesian stimulus or Reaganomics. I think today’s good news is due to the underlying strength of our economy. I also think that the stimulus was a good idea, because it lessened the suffering of many people during the downturn.
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cmsatown
11:51 AM PST
righties are whining about good news they had nothing to do with because the only other option is to admit they have nothing to do with it.. and to admit they have done nothing good for this country in years..
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DaveB1971
11:53 AM PST
If Obama cured cancer, the dolts on the right would whine about him putting oncologists out of business.
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Lorindigo
11:59 AM PST
which is nice to think about, but unfortunately anyone working on biomedical research now can’t even come close to curing cancer because NIH funding has been gutted by Republican policies that claim that “investing in R&D is wasteful.”
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justadog222
11:50 AM PST [Edited]
Anyone who thinks the economy improved because people anticipated a GOP victory in November is nuts. Because no sane human on earth can look a the GOP and see the opportunity for anything but back-biting chaos, lies, BS, and ideological bankruptcy.
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c2140156
11:50 AM PST [Edited]
The economy is so great that Democratic candidates refuse to be photographed with their leader Barack Obama.
*edited for emphasis
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justadog222
11:51 AM PST
Those were crappy candidates … and that’s why they lost.
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Deemanji
11:51 AM PST
Yes, the Democrats threw him under the bus. Not a very good campaign strategy, it turns out.
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nickindc
11:51 AM PST
Yep. Some pretty cowardly Democrats out there.
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justadog222
11:53 AM PST
They’re all cowards, says my Democratic Congressman … off the record, of course.
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SpinMeister
11:49 AM PST
If people only knew how much better this could be without all the games and negativity…but they’ll never know. Let the political beatings continue.
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WonderfulWorld
11:47 AM PST
I knew if I came to this board I’d find people harshing everyone’s mellow. For heaven’s sake, enjoy the moment, will ya…or at least let others do so.
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We-Need-More-Non-Binding-Resolutions
11:43 AM PST
liberals are delusional that this is because of their policies.
and I suppose when Republicans controlled congress, and balanced the budget, it wasn’t republicans who did that. LOL!!!
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kcbob
11:46 AM PST
It was Clinton along with John Kasich who got the budget balanced…with the GOP kicking and screaming every step of the way. And Bush killed it in two years.
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We-Need-More-Non-Binding-Resolutions
11:49 AM PST
you mean by slashing government spending. Not increasing it, right?
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kcbob
11:51 AM PST
No. I mean by implementing and enforcing the PAYGO rule after raising taxes.
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SpinMeister
11:46 AM PST
Ooops, you mean making deep cuts in the military and bailing out the Auto Industry and ending 2 wars and giving consumer protections and the stimulus package?
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We-Need-More-Non-Binding-Resolutions
11:51 AM PST
Are we out of Afghanistan? And yes, what happened in Iraw, aren’t we now BACK in Iraq? LOL!! Not a crowning achievement, is it?
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justadog222
11:52 AM PST
We’re about 100,000 troops short of being back in Iraq and about 30,000 troops away from being out of Afghanistan.
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justadog222
11:46 AM PST
Republicans are delusional because they think they have policies.
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WonderfulWorld
11:48 AM PST
When all they have is platitudes.
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valley-jeff
11:47 AM PST [Edited]
Perhaps they are using their opponents logic against them. Conservatives were up in arms about how terrible the economy was, and they laid the blame squarely at the Dems feet. That was the basis of their opposition to what the Dems were trying to do. That was also their strategy for the 2014 elections.
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SpinMeister
11:47 AM PST
Congress had a Dem Senate all this time….don’t delude yourself.
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baltova2
11:48 AM PST
So when Republicans control Congress, they get credit for the economy, but the President doesn’t, because he’s a Democrat.
So whose fault is it when the Republicans control the Congress AND the White House, and send us to war without paying for it and send us back into a deficit?
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cmsatown
11:41 AM PST
the best part of this is this is all because of what we did as Obama voters and what democrats did..
Republicans have obstructed and blocked everything including their own ideas and haven’t passed a single clean non porked up jobs bill..if anything they deserve to be deported for shutting the govt down and trying to slow the economy..
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We-Need-More-Non-Binding-Resolutions
11:43 AM PST
“the best part of this is this is all because of what we did as Obama voters and what democrats did.. ”
=======================
It is? how do you figure? What did Democrats do?
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baltova2
11:44 AM PST
We already told you. Try more reading and less posting.
And, seriously, give up. Just admit it’s good news. It won’t kill you.
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kcbob
11:45 AM PST
Resisted the push for austerity, for one.
Saved the auto industry, two.
Used stimulus to ease the worst of the recession, three.
Increased taxes on the wealthy, four.
Didn’t give in to the blackmail of the GOP, five.
Kept a steady hand on the tiller, as it were, five.
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We-Need-More-Non-Binding-Resolutions
11:46 AM PST
It is good news…but because of Republican…not Democrats.
kcbob doesn’t understand economics. that much is abundently clear.
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baltova2
11:50 AM PST
And your proof that it’s due to Republicans is that people anticipated a GOP takeover and started spending. Got it. Great understanding of economics you got there.
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patriot17
11:41 AM PST
I’d say it sounds great, within the confines of what it is. The Post commentary is very blue sky, here we go! ish. The first article about the 5 percent growth statistic this morning said the increase in consumer spending was health care spending, which I would argue is not necessarily an indicator of a economic boom, Increased health care spending is more likely an indicator that the affordable care act has caused a bunch of people to buy health insurance. That’s good news, but not necessarily great news for the economy.
The other elephant in the living room (in that no one is discussing it’s contribution) is the plummet in gas prices. Obviously, that will fire up consumer spending (pun intended) but will it last long? Based on previous experience probably not.
The increase in spending by businesses looks like truly good economic news. I would however like to see a more detailed analysis of the specifics of what caused this sudden unexpected economic growth. I suspect that the predictions of the economy “taking off” are premature.
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kcbob
11:42 AM PST
Actually, the increases were pretty much across the board.
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patriot17
11:42 AM PST
Where did you read that?
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kcbob
11:43 AM PST
You made the claim. Got proof?
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patriot17
11:44 AM PST
You said: ” Actually, the increases were pretty much across the board.”
I just asked where you got the information? Do you not want to tell me?
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c2140156
11:40 AM PST [Edited]
…
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kcbob
11:41 AM PST
And your point was?
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justadog222
11:41 AM PST
Oooops … right … Langley’s in Virginia …
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c2140156
11:47 AM PST [Edited]
Informal “DC” can be used for the district, the metro. It’s not the reason I deleted the post.
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baltova2
11:41 AM PST
Actually, Langley’s in Virginia.
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tigman_2
11:39 AM PST
Democrats implemented stimulus, Obamacare, increased capital gains tax increase from 15 to 20%, stabilized bank sector – all things all goobers insanely condemn.
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We-Need-More-Non-Binding-Resolutions
11:41 AM PST
and the stimulus didn’t generate the growth Obama projected. Obamacare costs us MORE. and specifically how did Obama stablize the banking sector? you mean TARP?
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tigman_2
11:43 AM PST
After GOP took house they threatened economic stability
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We-Need-More-Non-Binding-Resolutions
11:45 AM PST
Huh? why doing what?
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justadog222
11:45 AM PST
No sane human on earth can look a the GOP and see the opportunity for anything but back-biting chaos, lies, BS, and ideological bankruptcy.
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Lorindigo
11:50 AM PST
Justadog-you forgot to mention the ACTUAL bankruptcy.
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We-Need-More-Non-Binding-Resolutions
11:38 AM PST
“I’m going to file that right alongside “Obama was responsible for the shutdown because he wouldn’t give Republicans what they demanded.”
===================
And Republican are therefore responsible for the shurdown because they wouldn’t give Obama what he wanted? interesting logic.
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baltova2
11:40 AM PST
Well, technically yeah, since they refused to fund the government.
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We-Need-More-Non-Binding-Resolutions
11:41 AM PST
And Obama was willing not to negotiate, and let this happen.
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justadog222
11:43 AM PST
Like that argument isn’t make of spit and cellophane …
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baltova2
11:43 AM PST
And, of course, by “not willing to negotiate” you mean not give the Republicans what they wanted.
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justadog222
11:44 AM PST
Which was unconditional surrender … so why negotiate?
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gregdn
11:38 AM PST
This is good news.
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c2140156
11:38 AM PST
Winston Churchill: “I only believe in statistics that I doctored myself.”
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madhouse1
11:36 AM PST
Nice charts, but how come I can’t get no job?!
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We-Need-More-Non-Binding-Resolutions
11:37 AM PST
Just keep waiting for Hope and Change. Its coming…soon!
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justadog222
11:38 AM PST
… except Despair and Stagnation just win the mid-terms …
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We-Need-More-Non-Binding-Resolutions
11:39 AM PST
someone’s bitter.
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baltova2
11:40 AM PST
someone’s delusional.
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justadog222
11:45 AM PST
I’m not bitter … I just can’t help but notice the mirror-image.
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Lorindigo
11:48 AM PST
You can’t get a job? I passed two help wanted signs on the way back from lunch.
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cmsatown
11:36 AM PST
this is terrible…for wingnut trolls
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We-Need-More-Non-Binding-Resolutions
11:36 AM PST
How so, it was Republicans who generated the growth.
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c2140156
11:37 AM PST
This article is a self-congratulatory press release from the Fed.
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justadog222
11:38 AM PST
Republicans … and the Underpants Gnomes!
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baltova2
11:39 AM PST
Oh, the Fed! Congratulating themselves by pointing out the facts! I hate when they do that!
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We-Need-More-Non-Binding-Resolutions
11:30 AM PST
Headline: “At the hope of Republicans regaining control of Congress, the economy grew the fastest in the last 5 years.”
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baltova2
11:31 AM PST
Riiiight.
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We-Need-More-Non-Binding-Resolutions
11:32 AM PST
its not a coincidence. What economic policies have Democrats implemented?
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justadog222
11:37 AM PST
I’m going to file that right alongside “Obama was responsible for the shutdown because he wouldn’t give Republicans what they demanded.”
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baltova2
11:37 AM PST
1) The stimulus, although too small, helped.
2) Preventing the automobile companies from collapsing, kept them going, their workers employed and their vehicles on the market.
3) Government spending was never cut as much as in other countries, where (surprise) their recovery is lagging behind ours. Now state and federal spending is going up and so is the economy.
That seems more likely than believing people boosted the economy in the quarter BEFORE the elections.
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baltova2
11:37 AM PST
Oh, I forgot preventing a bank collapse. Might have been helpful.
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baltova2
11:39 AM PST
BTW, I love the fact that you want others to be specific, when your argument is that the mere fact that Republicans would take office turned on the economy. Nice specifics you got there.
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justadog222
11:39 AM PST
You gotta love the internal contradictions …
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DaveB1971
11:31 AM PST
Hahahahahaha! I needed that laugh after lunch.
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tigman_2
11:33 AM PST
Sorry, my sales were up 20% in April and haven’t slacked off since!
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We-Need-More-Non-Binding-Resolutions
11:34 AM PST
You can thank Republicans for that.
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valley-jeff
11:34 AM PST
Indeed. It must have been the Benghazi hearings or the government shutdown that did it.
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We-Need-More-Non-Binding-Resolutions
11:35 AM PST
So what specific policies generated the growth…and please, be specific.
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valley-jeff
11:37 AM PST [Edited]
I forgot to add the IRS hearings. I’m sure they were responsible.
And you are the one making the claim that the growth was a result of GOP policies, or hope thereof, not me. I’m simply pointing out what the GOP has accomplished.
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justadog222
11:40 AM PST
The IRS report came out of Issa’s committee today … I’ll bet that’s no coincidence!
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valley-jeff
11:40 AM PST
Well, there you have it. I was right!
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nickindc
11:27 AM PST [Edited]
The best thing is that Obama’s term has been a steady sustained growth period without the superheated growth that comes from tricks like the housing bubble. There appear to be no significant bubbles forming. This could turn into the longest sustained period of growth in our history. It’s the third longest now.
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Deemanji
11:30 AM PST
Just in time for the GOP to take credit for it. Just watch.
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We-Need-More-Non-Binding-Resolutions
11:31 AM PST
you mean the same way Obama took credit for ending the war in Iraq, until Isis showed up?
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DaveB1971
11:30 AM PST
How dare you come here with good news before the 2016 election.
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nickindc
11:36 AM PST
This would be an ideal time to spread the economic success by increasing the minimum wage and tapping into some of the enormous wealth reserves at the top for infrastructure and educational investment. Sadly, fat chance with the new Republican Legislature.
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Briteyes1
11:23 AM PST
this is good news and you know what would make it even better? a shift from a oil based economy to a non-oil resource based economy.
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spykemanne
11:24 AM PST
Jobs bill???
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lipschitzantwon
11:25 AM PST
We need an FDR or Lincoln. Unfortunately, those days are gone.
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tigman_2
11:22 AM PST
Republicans find poor, desperate, skeptics easy to manipulate
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lipschitzantwon
11:23 AM PST
You do have to wonder what is wrong with people in Kansas.
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biestsr2
11:23 AM PST
Thank you Mr Gruber.
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c2140156
11:31 AM PST
How’s the war on poverty going?
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c2140156
11:33 AM PST [Edited]
Conservatives fight for money, liberals for power. Hence, communist countries are dirt poor, and capitalist countries filthy rich.
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The Washington Post
U.S. economy grew at a rate of 5 percent in third quarter, the fastest in more than a decade

Tuesday, December 23 2014
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U.S. economy grew at a rate of 5 percent in third quarter, the fastest in more than a decade
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My name is William Hale, aka, haji Mohammed A. Omar, currently posting here under the name, "Petawatt Wall"
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