Optimism in the face of facts seems to be the theme this week, and it’s only Monday. Don’t shed any tears. Growth is just around the corner. Right after our massive deficit becomes a bit more massive and the tens of billions of savings add up to offset hundreds of billions. What are you worried about?
The Obama administration projected that the U.S. economy will expand at a 3.5 percent annual rate by year-end, a rebound that would be almost twice as strong as private forecasters expect.
In the economic assumptions of its 2010 budget request, President Barack Obama’s economic team didn’t change its 2009 predictions for a 1.2 percent drop in gross domestic product this year, slower inflation, higher unemployment and lower market interest rates than a year ago.
White House Sees 3.5% Growth by Year-End, Exceeding Forecasts [Bloomberg]
Why are all the douche bags on CNBC wearing purple ties?
What was I thinking studying finance/econ in school when all you really need is a JD and a night in a holiday inn express.
@2
actually if you stay at a holiday inn express, all you need is a ZJ
It is this administations duty to project an air of confidence and optimism to the dejected and disillusioned American people. After the last 8 years, this task is as difficult as any previous admin has ever had to cope with. I wish you cynics would get on board and realize WE ARE ALL IN THIS TOGETHER PEOPLE!!! We can give in to the new porn of pessimism or we can move forward to as the President says “build a new foundation”. You can stay behind and long for the good old Bush, free market, no healthcare, global warming days, or, or you can take the challenge and move this graet country forward. I know where I’m going – do you?
@4 – Yes. Canada.
4- In imaginationland all of those things will be true.
How much would it cost to arrange a threesome between Becky Quick, Erin Burnett and myself?
Curious in Cape Cod
“WE ARE ALL IN THIS TOGETHER PEOPLE!!!”
False
The Democrats fixed the economy. Why can’t you fucktard Rethugnicants appreciate that?
@9 Is that you, Wanda Sykes?
I think it’s very possible that there will be at least one day before the end of the year where the economy expands at a 4% annualized rate.
Is it true that Michele Obama’s penis is bigger than Barry’s?
Dems constituents live in imaginationland, why can’t their forecasts?
The only thing expanding a 3.5% annually is Obama’s hat size.
@4.. WE ARE ALL IN THIS TOGETHER PEOPLE!!! Wrong! Please kill yourself!
No health care? I have insurance. I have health care. Your fantasy land government run health care will look very much like the DMV, IRS, and all the other fucktard agencies the government runs.
Good luck to you. I’ll keep working to pay my health insurance premium. You will take a number at the local clinic for some $50K a year shit Dr. to help you when your number is called. Enjoy!
@12
Doubt it, every rapper calls their d@ck their Barack in songs.
Barry is packing, evidenced in the ass pounding he gave to the repubs.
@4
Sarcasm. I sure hope so.
If the White House really believes this growth forecast than Blackie-O must be growish something other than zucchini in her new garden.
@4
260mm are insured, 40mm are uninsured (Of which 1/3 can afford insurance but choose not to buy it, 1/3 qualify for Mcare and Mcaid but haven’t registered for it and the other 1/3 are dirt poor. Of course, all of this is assuming that the 40mm number that is thrown around is accurate).
“After the last 8 years, this task is as difficult as any previous admin has ever had to cope with.” I guess that you have never heard of the Carter Administration before.
And I know where you are going, to a new “graet country”. Enjoy.
Tools->Goal Seek:
Set Cell: “Deficit”
To: 0
By Changing: “Ann Econ Growth”
WASHINGTON, May 11 (Reuters) – High U.S. budget deficits are being driven by an economic crisis that President Barack Obama inherited, White House Budget Director Peter Orszag said on Monday.
I am pretty sure it was Michele Obama’s penis that pounded the asses of Repubs. Barry was busy shaking people’s hands so the dirty work was left up to him/her.
Excuse me, I just went back to my Budget model and realized the only way to get that 3.2% # is to hardcode it (and make sure its blue anyway).
LOL @ 20/23.
Listen, (Shhhh) to what the flower people say (Ahhhh)
Listen, it’s getting louder every day
Listen, (Shhhh) it’s like a bolt out of the blue (Ahhhh)
Listen, it could be calling now for you
Flower people walk on by
Flower people don’t you cry
It’s not too late (No!)
It’s not too late
Listen (Shhhh) it’s like a Mozart symphony
Listen (Shhhh) it’s something just for you and me
Listen (Shhhh) to what the flower people say (Ahhhh)
Listen, it’s getting truer every day
(Ahhhh)
the nostalgic hippie
Listen, (Shhhh) to what the flower people say (Ahhhh)
Listen, it’s getting louder every day
Listen, (Shhhh) it’s like a bolt out of the blue (Ahhhh)
Listen, it could be calling now for you
Flower people walk on by
Flower people don’t you cry
It’s not too late (No!)
It’s not too late
Listen (Shhhh) it’s like a Mozart symphony
Listen (Shhhh) it’s something just for you and me
Listen (Shhhh) to what the flower people say (Ahhhh)
Listen, it’s getting truer every day
(Ahhhh)
the nostalgic hippie
Oh man I double posted. Shoot.
the nostalgic hippie
@15: “I’ll keep working to pay my health insurance premium.” I felt the same way. Imagine my surprise when, after I got downsized, my COBRA payments for family health care came out to over THREE GRAND a month. Suggest you keep your nose right in your bosses butt-crack where it belongs.
U.S. Rep. Pete Sessions of Dallas, a member of the House Republican leadership, is accusing President Barack Obama of intentionally driving up unemployment and dampening stock prices in a bid to consolidate power.
That’s exactly why EP started the now forgotten Obama Portfolio, to remind us all ignorant fools of what’s going on.
What? The Obama Portfolio is still up? Wait a minute. Never mind.
28 What about the US postal service, thats a model of government run efficiancy it there ever was one. I mean, where else in the world can you get mail delivered relaiably and on time for a measly 42 cents – huh, where?
@15 “Your fantasy land government run health care will look very much like the DMV, IRS, and all the other f*cktard agencies the government runs.” Does that include WaMu, ML, Wachovia, Citi, GM, AIG and the rest of the private sector the government had to save from themselves? My local DMV is pretty smooth and predictable by comparison.
31 The govt didn’t, and shouldn’t have saved those so called private sector companies from themslves. The govt didn’t ask me my opinion, or if they could spend my tax dollars on this nonsense. At least with Citi, Wachovia and the rest we had choices of who to patronize. The next time you go to the DMV and pull ticket 32659 and they’re on like #56 try going to another branch and see of you get better service you commie bastard.
@30: Royal Mail is 39p for first class; Canadian mail is 52 cents. You are absolutely right; nobody else runs an agency with such “efficiancy.”
@31…15 here. The answer to your question is…..HELL YES! Government just hasn’t had enough time yet to make those institutions like Fannie and Freddie! Duh!
Thanks for playing though!
@33 The Post Office has a legal monopoly over the delivery of First Class mail. This monopoly power was granted to them because the Pony Express and Western Union used to kick the snot out of them. Instead of letting the private sector kill off a government agency, the government outlawed the delivery of First Class mail by anyone other than the Post Office.
I won’t even go into how the Post Office loses over a billion dollars a year. If it was a for-profit company, it would sleep with the fishes.
PIK_Toogle
@15: So I take it the government response of 1929-34 was the correct one then: let the free market clean up its own mess and if 40% of all Americans lose their homes as a result then let that be a hard-knocks lesson to all. Is the FDIC a commie program as well?
@36 you idiot the government response to 1929-1934 was massive intervention supported by both Hoover and FDR. The Panic of 1920 was resolved by the free market… Don’t here too much about that one