Obama administration projects only 1.2 percent decline in GDP : 2009 - Mercedes-Benz Forum

 
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post #1 of 2 (permalink) Old 03-04-2009, 12:54 AM Thread Starter
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Obama administration projects only 1.2 percent decline in GDP : 2009

It also projects 3.2 percent growth in 2010.
Doesn't sound that bad, does it ?
Or is someone smoking something ?

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The Administration’s economic assumptions were largely completed in early January and finalized on February 3rd.
Economic Projections and the Budget Outlook
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post #2 of 2 (permalink) Old 03-04-2009, 07:00 AM
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Well, you do see what a 1.1% "gain" in 2008 did to the economy so looking at a dip that deep is significant to a $14T economy.

That loss of $200Billon in real value is considerable when you add it to the last four quarters and its cumulative effect.

Then when you add the current near $11T in Debt, which will be $13T by 2010, continued unemployment and the problem is exacerbated.

As mentioned in an earlier thread, trying to gauge the economic health of the country by only ONE indicator, whether it be stock market or GDP or employment numbers is poor. We have to see the trending to know where we are. And right now we are still, as projected way back in 2006-7 going down.

McBear,
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Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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