“Argue with neighbors, get in their faces… If you get hit, we will punch back twice as hard… I don’t want to quell anger. I think people are right to be angry. I’m angry…If they bring a knife to the fight, we bring a gun. Because from what I understand folks in Philly like a good brawl. I’ve seen Eagles fans.”
Gross domestic product (GDP) expanded at only a 0.7% seasonally adjusted annualized ratein the fourth quarter of last year, the Commerce Department reported today. That’s quite weak.
2015 as a whole wasn’t so good either. GDP expanded at only 2.4%, the same as in 2014. That’s called limping along. For as James Pethokoukis points out, from the end of World War II through 2005, the economy grew at an average annual rate of 3.5%.
Time to clear out all the tabs on my browser again.
Let’s lead with this article from the Foundation for Economic Education. It points out what is wrong with Trumps claims about manufacturing jobs, and how to fix the problem. It goes on to point out that Trump is the moderate on the subject when compared to Vermont Socialist Bernie Sanders. Sanders is completely divorced from reality on the subject, and his “solutions” have the high probability of making the thing he wants to fix even worse.
Modern Healthcare has a report on the Illinois Obamacare program. I’ll give you the short version, they operated at a $90.8 million loss in 2015. Remember back before the so-called “Affordable Care Act” was passed in the middle of the night right before Congress left Washington for Christmas? Come on, you remember. It was done using a procedure that even the democrats own resident high ranking Klansman objected to, in order to avoid a vote in the Senate. Something to do with the democrat stronghold of Massachusetts electing a Republican expressly to vote against Obamacare. There were some people, mainly those who had actually read the ACA, who objected to it, claiming it was economically unviable. They were uniformly called “racists”, which we now know means “anyone who disagrees with a democrat.”
Mark Dice is at it again. He’s on the streets of San Diego, asking people to sign a petition in support of President Obama’s plan to secure his legacy by liberating the people of North Korea by launching a nuclear strike at the heart of North Korea.
It is refreshing to see that there are a few sane people in San Diego who refuse to sign the petition. For the most part, the Obama cultists sign it in order to support their Dear Leader.
But no amount of adjustment can obscure how bad the recovery has been for most American families. By many measures, 2014 was the strongest year of the recovery so far; the economy added nearly 3 million jobs, the most since 1999. Yet incomes were stagnant across virtually all groups: young and old, married and single, rich and poor.2 Virtually the only group to see a statistically significant gain in income was immigrants, whose median household income rose 4 percent to just under $50,000. Native-born households saw their income decline 2 percent to just under $55,000.
The recovery has utterly failed to lift the fortunes of the poorest Americans. The official poverty rate was 14.8 percent in 2014, nearly unchanged since the immediate aftermath of the recession, and far above the prerecession level. Some 15 million children and 5 million seniors are living in poverty.