« Top Headline Comments 7-16-2011 [Truman North] | Main | Charles Krauthammer's Budget Solution »
July 16, 2011

Democratic Bastion Goldman Sachs Predicts Continuing Poor Economic Performance

Down, down, down.

Following another week of weak economic data, we have cut our estimates for real GDP growth in the second and third quarter of 2011 to 1.5% and 2.5%, respectively, from 2% and 3.25%. Our forecasts for Q4 and 2012 are under review, but even excluding any further changes we now expect the unemployment rate to come down only modestly to 8¾% at the end of 2012.

[Discussion of short-term, temporary factors, such as auto supply disruptions due to the Japan Nuke Disaster, omitted; report notes that failing economy cannot be explained entirely by such temporary factors]

...final demand growth has slowed to a pace that is typically only seen in recessions.... Moreover, if the economy returns to recession—not our forecast, but clearly a possibility given the recent numbers …

Obama's obvious play here is to claim the economy was growing, until... those wicked Republicans took over the House in January 2010, and then they undid all his terrific work.

It's obvious, but I don't think many are going to buy that jazz. Obama promised some strong growth in 2011, for example:

Starting in 2011, with Obamanomics fully in gear and the recession over, growth would take off. GDP would rise 4.3 percent in 2011, followed by … 4.3 percent growth in 2012 and 2013, too! And 2014? Another year of 4.0 percent growth. Off to the races, America.

But I don't see what else they can say.


digg this
posted by Ace at 09:30 AM

| Access Comments




Recent Comments
navycopjoe: "165 they come here twice a year always fun to wa ..."

rickl: "Check out this really nice XKCD cartoon. https: ..."

garrett: ">>it was the 4" pumps that really made the outfit. ..."

I love the non-changed climate, sexually.: "---Heh. Reading the polar-bear link, on the Fox ..."

CharlieBrown'sDildo: " Because I honestly have no idea what the whole g ..."

Misanthropic Humanitarian: "176 MisHum, would you mind putting up the fact tha ..."

Mike Hammer, etc., etc.: " Because I honestly have no idea what the whole gi ..."

Misanthropic Humanitarian: "152 Tucker behaves like he knows that his days are ..."

CN: "I've been thinking about that a lot lately. Becaus ..."

bluebell ~ get cooking, Horde!: "MisHum, would you mind putting up the fact that Me ..."

undocumented illegal SMOD: " U.S. judge orders special counsel to turn over ev ..."

Cicero (@cicero): "[i]I told him yes, but we didn't come up with that ..."

Recent Entries
Search


MuNuvians
Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
News/Chat
Archives
Powered by
Movable Type 2.64