Improving Economy Further Imperils Tea Party
With consumer confidence up, more people going back to work, and the stock market surging, blaming President Obama and Democrats for the economy isn’t working anymore.
Click here for reuse options!The latest evidence of strength came in a report on Tuesday showing growth expanded at a robust 5 percent pace in the third quarter of 2014, the fastest speed in over a decade. The news helped drive the Dow Jones Industrial Average above 18,000 for the first time ever in a bull market charge that began six years ago and shows no signs of slowing.
…for now, the third-quarter-growth number shows that lower gas prices, an increase in employee wages and the healthy state of consumers and businesses bottom lines have lit a booster rocket under the American economy.
“This is a wow number. And it comes on the heels of another wow number, which was the November employment report,” said Mohamed El-Erian, chief economic adviser at Allianz…
The strengthening economy — and an improving government fiscal picture — has already transformed the political conversation in Washington. The kind of federal debt and deficit scolding that helped drive the tea party movement to power is now significantly less potent…
“If we have two years like the last couple of quarters and if wages continue to pick up, it would definitely be a plus for the incumbent White House party and whoever emerges as the Democrat who would replace Obama,” said David Wessel of the Brookings Institution.
Copyright 2014 Liberaland
22 responses to Improving Economy Further Imperils Tea Party
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StoneyCurtisll December 26th, 2014 at 15:15
I’d like to know why all this good economic news wasn’t reported on a few months ago when Democratic candidates were ducking any connection with Obama…
This good economic news is not recent news, it’s been happening for a while.
raincheck December 27th, 2014 at 09:03
For some reason the Democrats can’t seem to get the message out… if you ask me, it’s time for some new leadership in our Party, along with Democratic Candidates who have a spine.. I just love Elizabeth Warren
StoneyCurtisll December 26th, 2014 at 16:15
I’d like to know why all this good economic news wasn’t reported on a few months ago when Democratic candidates were ducking any connection with Obama…
This good economic news is not recent news, it’s been happening for a while.
raincheck December 27th, 2014 at 10:03
For some reason the Democrats can’t seem to get the message out… if you ask me, it’s time for some new leadership in our Party, along with Democratic Candidates who have a spine.. I just love Elizabeth Warren
edmeyer_able December 26th, 2014 at 15:20
I hate to say it like this but as long as Obama is Black, and right wing pundits can convince people their 2A rights are under attack there will be a teaparty.
edmeyer_able December 26th, 2014 at 16:20
I hate to say it like this but as long as Obama is Black, and right wing pundits can convince people their 2A rights are under attack there will be a teaparty.
rg9rts December 26th, 2014 at 15:27
Ben Gha Zi
rg9rts December 26th, 2014 at 16:27
Ben Gha Zi
tiredoftea December 26th, 2014 at 15:31
But…But…But…He’s a Socialist!
tiredoftea December 26th, 2014 at 16:31
But…But…But…He’s a Socialist!
SteveD December 26th, 2014 at 17:41
US households (especially at the median) are not participating meaningfully in the reported (5%) growth — which is happening almost exclusively on the up up side of the “wealth divide.”
The US is benefiting globally (in predatory fashion) from having the strongest of currencies and the safest of investment havens.
The above carries with them destabilizing social consequences that are far worse (internally and externally) than the mere possibility of yet another economic slowdown.
The rich, with help primarily from conservatives in Congress and the conservative Supreme Court, bribe politicians to adopt policies that widen the Gap:
1. Increase FICA and reduce Social Security benefits.
2. Charge for Medicare and include growing deductibles and “holes” and limits in payments.
3. Attempt to make Medicare and Social Security privately funded.
4. Little or no support for medical insurance below age 65.
5. Decreasing assistance for real college education, and making student loans the only loans not dischargeable in bankruptcy.
6. Cut corporate tax rates and increase the many tax “loopholes” for the rich, not available to lower income taxpayers.
7. Allow wealthy bankers to trade risky futures accounts, then be reimbursed for those losses by the government.
8. Opt for “smaller federal government,” which really means cutting programs that benefit the 99%.
SteveD December 26th, 2014 at 17:54
How is this for growth: Real disposable income is still down a material -$373 per year from the fourth quarter of 2012 (when FICA tax holiday ended) and it is up only 2.23% in total since the second quarter of 2008 — a miserable 0.35% annualized growth rate over the past 6.25 years.
SteveD December 26th, 2014 at 18:41
US households (especially at the median) are not participating meaningfully in the reported (5%) growth — which is happening almost exclusively on the up up side of the “wealth divide.”
The US is benefiting globally (in predatory fashion) from having the strongest of currencies and the safest of investment havens.
The above carries with them destabilizing social consequences that are far worse (internally and externally) than the mere possibility of yet another economic slowdown.
The rich, with help primarily from conservatives in Congress and the conservative Supreme Court, bribe politicians to adopt policies that widen the Gap:
1. Increase FICA and reduce Social Security benefits.
2. Charge for Medicare and include growing deductibles and “holes” and limits in payments.
3. Attempt to make Medicare and Social Security privately funded.
4. Little or no support for medical insurance below age 65.
5. Decreasing assistance for real college education, and making student loans the only loans not dischargeable in bankruptcy.
6. Cut corporate tax rates and increase the many tax “loopholes” for the rich, not available to lower income taxpayers.
7. Allow wealthy bankers to trade risky futures accounts, then be reimbursed for those losses by the government.
8. Opt for “smaller federal government,” which really means cutting programs that benefit the 99%.
SteveD December 26th, 2014 at 18:54
How is this for growth: Real disposable income is still down a material -$373 per year from the fourth quarter of 2012 (when FICA tax holiday ended) and it is up only 2.23% in total since the second quarter of 2008 — a miserable 0.35% annualized growth rate over the past 6.25 years.
Tim Coolio December 26th, 2014 at 17:53
Gas now dipping below $2 in some areas, Dow at
record highs, unemployment dropping fast, the
amount of money we spent last year on health care
went up by the smallest amount since federal
scorekeepers started tracking it a half a
century ago, yup, I LIKE MY CHANGE! that’s why
I voted for Obama and the democrats and not any
tea bagger.
Tim Coolio December 26th, 2014 at 18:53
Gas now dipping below $2 in some areas, Dow at
record highs, unemployment dropping fast, the
amount of money we spent last year on health care
went up by the smallest amount since federal
scorekeepers started tracking it a half a
century ago, yup, I LIKE MY CHANGE! that’s why
I voted for Obama and the democrats and not any
tea bagger.
Ol Blue December 26th, 2014 at 18:55
As long as there is hatred for this president, there will be a tea party. When he leaves office, I expect them to slither back under their respective rocks.
jasperjava December 26th, 2014 at 19:44
If it’s Hillary (or better yet, Liz Warren) expect the irrational racist garbage to continue in the form of irrational sexist garbage.
Ol Blue December 26th, 2014 at 19:55
As long as there is hatred for this president, there will be a tea party. When he leaves office, I expect them to slither back under their respective rocks.
jasperjava December 26th, 2014 at 20:44
If it’s Hillary (or better yet, Liz Warren) expect the irrational racist garbage to continue in the form of irrational sexist garbage.
ribbie149 December 26th, 2014 at 22:40
You are assuming that any Tea Bagger will pay attention or give credence to FACTS.
ribbie149 December 26th, 2014 at 23:40
You are assuming that any Tea Bagger will pay attention or give credence to FACTS.