Obama economy gaining steam this quarter
Tell your conservative uncle to ditch the tricorner hat with Celestial Seasonings hanging from the brim because President Obama is absolutely embarrassing right wing talking points in his weekly address.
In this weeks Weekly Address: Americas Resurgence is Real, President Obama takes a look at job and economic growth in this country since the devastating recession in 2009, the results for our latest quarter were even better than expected. Even the Dow reached a record 18,000 points today.
President Obama addressed the nation, saying:
The steps we took nearly six years ago to rescue our economy and rebuild it on a new foundation helped make 2014 the strongest year for job growth since the 1990s. Over the past 57 months, our businesses have created nearly 11 million new jobs. And in a hopeful sign for middle-class families, wages are on the rise again.
Our investments in American manufacturing have helped fuel its best stretch of job growth since the 90s. America is now the number one producer of oil and gas, saving drivers about 70 cents a gallon at the pump over last Christmas. The auto industry we rescued is on track for its strongest year since 2005. Thanks to the Affordable Care Act, about 10 million Americans have gained health insurance in the past year alone. And since I took office, we have cut our deficits by about two-thirds.
This type of success completely smashes gripes from the right-wing to smithereens. Despite a complete government shutdown, filibusters and massive tantrums by the GOP, President Obama stayed the course and its having a fantastic result.
Remember when Mitt Romney said this before the last Presidential election?
Knowing how wrong he would be, is gleefully fulfilling. The housing market is even doing well these days.
Now, take a look at this:
What were seeing is our Gross Domestic Product up at 5 percent for this quarter (July-September), and with gas-prices low, the last quarter is expected to hold steady.
Market Watch reported:
The U.S. economy grew at a 5.0% annual pace in the third quarter, matching the best performance since the third quarter of 2003. The increase in real gross domestic product was revised up from 3.9%, mainly because of consumer spending and business investment, the Commerce Department said Tuesday.
Not only the economy, many factions in U.S. are doing well
America is finally starting to see real recovery, in nearly every faction. The Affordable Care Act has insured 10 million Americans, which has also caused growth in the private sector for health insurance. With the rise of insured Americans, the healthcare industry is expected to start hiring to meet the demands of a larger participating population, and are expected to add more jobs than any other industry between 2012-2022 according to the Bureau of Labor Statistics.
The bailout of the auto industry has also enlivened the industry, despite the critics. Unemployment is finally petering out. Before the last Presidential election, Boehnor said:
Raising taxes in 2013 on the wealthy did not increase unemployment. While job recovery wasnt as swift as needed, the U.S. has nearly returned to pre-recession rates, below are the latest unemployment figures:
While the GOP would have Americans believe the sky has been falling since Obama took office in 2009, it would seem that every issue they have taken with the President is being countered by positive numbers, growth and statistics. Were not operating at 100 percent, yet, but President Obama and democrats have many successes to boast about.
H/T: MSNBC | Photo: Barack Obama