Skip to content
Advertisements

Chuck Schumer claims we rely too much on the GDP to judge the economy

August 29, 2018

  Democrats were depressed when the latest GDP number came in at 4 percent and they were equally unhappy with the latest unemployment numbers. So much so that people like Elizabeth Warren took to the airwaves to claim the number is faulty and the reason the unemployment number was so low is because everybody is working four jobs.

  Yesterday the GDP was adjusted up to 4.2 percent and today Chuck Schumer had to come out and say we rely too heavily on this number to judge the economy.

“For too long we’ve relied on GDP alone as a bellwether for how Americans are faring in the economy when we should be looking as well at income data across the economic spectrum,” said Schumer.

  He made this statement while introducing a bill which would require the government to release more data with the GDP number.

“Too often when we hear that GDP is rising and the economy is booming, as the president claims, there’s an assumption that all Americans are reaping the benefit equally, when in fact wages for the middle class remain flat and income inequality gets worse.

“To this end, Senator Heinrich and I, and many others, will be introducing new legislation today–and you’ll hear more about it from Martin–that requires new income growth data to be published alongside quarterly GDP reports.

  In other words Chuck Schumer is saying; the President is saying the economy is booming and we cannot have that. I guess the Democrats’ attempt at giving credit for the economy to Barack Obama has failed so it is back to denying the truth of the economy.

  I am all for more data but that is not the point. The point is people like Chuck Schumer had no problem whatsoever with the way the economy was measured under Barack Obama but now that the data is making Donald Trump look good it is time to change the data we use.

malo periculosam libertatem quam quietum servitium  

Advertisements
9 Comments leave one →
  1. Fergus permalink
    August 29, 2018 7:05 pm

    Its hard to defend Demorat economic and social policies when you see the results, but then again the Dems will always have Venezuela.

    Liked by 2 people

    • August 30, 2018 6:57 pm

      A good place for them…

      Like

  2. August 29, 2018 7:47 pm

    They.Just.Won’t Let. Up. We all should be tickled pink about the economy…but these evil ones will not give it up for a nanosecond.

    Liked by 3 people

    • August 30, 2018 11:03 am

      Because, as you know, what’s ‘good’ for them is ‘bad’ for us and never will the twain meet except in battle.
      Like ‘cnn’ lying, “We don’t lie.”
      Twitter: Make no mistake, Mr. President, CNN does not lie. We report the news. And we report when people in power tell lies. CNN stands by our reporting and our reporters.
      How can you argue w/ that?!!

      Liked by 2 people

      • August 30, 2018 6:59 pm

        Exactly!

        Liked by 2 people

    • August 30, 2018 6:58 pm

      They would rather see the economy tank than give Trump credit and it is pretty sad to see.

      Liked by 1 person

  3. petermac3 permalink
    August 29, 2018 8:47 pm

    Yes we need more data. Let’s count the able bodied ghetto moms and dad collecting welfare payments as employed while not forgeting the Puerto Ricans in NYC collecting here and in PR long before their hurricane then the employment rate would be -1%…Uh oh ChuckCheese!. But then why doesn’t halitosis breath demand the goods and services these entitlement mongers purchase with our taxpayer dollars not be included in the GDP and then he’d have his 1% GDP. Bottom line this rat knows whatever lies and fantasies he throws out there becomes fact in the pea brains of the dumbed down over 50% of the population and 99% of those on the democrat plantation. And anyone out there who believes those newly employed, thanks to the Trump economy, will vote red in November I still have that toll booth on the NJ Turnpike for sale.

    Liked by 3 people

  4. August 30, 2018 4:51 pm

    Hussein was a big success … doing his best to take down America along w/ the rest of the grp – Schum being one of ‘them’. They’re all on the same page of an Anti-Godl book. It’s easy to destroy “what’s of quality” especially for the ‘low-lives’ who deny and “reject” the Truth. This includes the Rino’s & Establishment (Deep State worshipers).
    They “knew” Hussein admin. #’s were fraudulent (40%+ unemployment for black – who they so “care about”…naught). The very things they strike out about are “things they’ve done or doing themselves!”
    “Liberal projection is the liberal debating tactic where ‘A’ accuses their enemy ‘B’ of doing what ‘A’ is actually already doing. In politics, the classical example is accusing your opponent of a smear campaign while running one yourself.”

    Liked by 2 people

    • August 30, 2018 7:01 pm

      They really have become masters of projection!

      Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: