» Politics and other things

Even more bad news for GOP

(8 posts)

  1. Vitalogy

    New data released Wednesday show the U.S. economy bounced back in the spring, growing at a 4% annual pace in the second quarter. That was even better than the forecast of 3% growth, according to a consensus of economists surveyed by CNNMoney.

    Consumer spending, which alone accounts for about two thirds of U.S. economic activity, strengthened, as did exports to foreign countries and business investments.

    American consumers spent more money on long-lasting goods like autos, appliances and furniture, while businesses invested more in technology and industrial equipment. Both can be seen as good signs that households and companies are more optimistic and investing in the future.

    The Bureau of Economic Analysis also revised historical data, and the new numbers show the bad winter wasn't quite as bleak as last reported. The economy contracted at a 2.1% rate in the first three months of the year, as opposed to the decline of 2.9% reported last month. Meanwhile, the second half of 2013 was also stronger than originally reported.

    Posted on July 30, 2014 - 11:38 AM #
  2. Andrew

    How is this bad news for the GOP?

    It's only bad news if they lose seats in the mid-term elections. If not, why should they care? They have plenty of fake scandals to pump up if they can't criticize Obama over the economy...

    Posted on July 30, 2014 - 12:28 PM #
  3. Deane Johnson

    How is this bad news for the GOP?

    Business owners are the Republicans who are generating this success, in spite of Obama's Keystone Cops administration.

    Posted on July 30, 2014 - 12:39 PM #
  4. Andrew

    But when things were slow, it was Obama's fault, not those "Republican business owners" - right?

    Posted on July 30, 2014 - 12:46 PM #
  5. Deane Johnson

    Actually, it was Dodd and Frank's fault.

    Posted on July 30, 2014 - 12:46 PM #
  6. Andy_brown

    I fail to see how big business getting wealthier (that's what a positive GDP means) hurts the GOP when all the growth in employment consists of primarily low paying jobs. The deep recession wiped out primarily high-wage and middle-wage jobs. Yet the strongest employment growth during the sluggish recovery has been in low-wage work, at places like strip malls and fast-food restaurants.

    In essence, the poor economy has replaced good jobs with bad ones. That is the conclusion of a new report from the National Employment Law Project, a research and advocacy group, analyzing employment trends four years into the recovery.

    Having said that, the GOP is facing 5 big challenges in the mid term, in spite of their propaganda to the contrary.

    1. Seniors: Although other voters have pulled back from the GOP, among no group has this shift been as sharp as it is among senior citizens. The reasons behind this range from the obvious — Republicans have widely embraced plans for dismantling Medicare, Social Security and Medicaid, all of which provide crucial support to older Americans — to the slightly less obvious — the economy and being frustrated with the GOP’s extremism.

    2. Immigration: The GOP’s two-decade-old strategy of alienating Latinos and failure of the GOP house to pass immigration reform in combination with the fact that more Latinos will be voting in 2014 then did in 2010 spell bad news for Republicans.

    3. The backfire of voter suppression: Somewhat related to above. The only way to defeat the GOP states that have put in place voting registration suppression measures is to focus on registration and getting voters whatever identification they need to cast their votes. This effort has already begun in California and as Texas and other states engage in the kind of discriminatory voting restrictions the Voting Rights Act used to block, the backlash could spread.The minority vote will already be 2 percent larger in 2014 than 2010 because of population growth, according to Ruy Teixeira, a Senior Fellow at both The Century Foundation and American Progress. If minorities support Democrats at levels close to how they backed President Obama, that helps erase the advantage Republicans have going into the election.

    4. Complete Incompetence: The number of people who identify with the Republican Party has been shrinking since the 2012 election. This could be just a hangover of a big election loss, or the sign of actual dissatisfaction with the party. The GOP’s aversion to compromise makes the likelihood of some sort of government shutdown or debt default a possibility.

    Republicans have never really won back the mantle of fiscal responsibility after blowing the surplus and George W. Bush leaving office with a $1.4 trillion deficit, but their intractability threatens to remind voters of the real reason they rejected Republicans so completely in 2008: incompetence.

    5. Obamacare: Obamacare is working. We now have more Americans with health insurance, and three-quarters of enrollees say they’re happy with their health plans. Meanwhile, budget studies suggest that we’re reducing the long term deficits by reducing waste in the health care system. According to surveys, 78 percent of individuals with health plans are happy with them, including 74 percent of Republicans. In the past, many of us have been frustrated with insurance companies that canceled coverage when enrollees got sick or that denied essential care. It is very positive to see that more people are enrolled and that people like the care they’re getting.

    These are the reasons the GOP should be worried. These are the bad news items that can hurt them in 2014.
    Not the growth in GDP. That's just a reminder to lower economic voters that the rich get richer and they are getting poorer. The median wage is substantially less than the average wage. The reason for the difference is that the distribution of workers by wage level is highly skewed.

    Posted on July 30, 2014 - 01:17 PM #
  7. Vitalogy

    High tide lifts all boats Andy. Additional demand from individuals and businesses is good for everybody.

    The reason this is bad news for the GOP is that for the last 5 years we've heard nothing but how bad Obama will be for the economy, the markets, etc.

    As time goes along, their predictions will look even more ridiculous because the US economy is full steam ahead and the data continue to prove it.

    Posted on July 30, 2014 - 03:30 PM #
  8. NoParty

    Deane said>>>
    Actually, it was Dodd and Frank's fault.

    You've brought this up many times on here and LimBLAH brings it up on his show almost every week. That was in the past and the CONs should have been able to get past that like the destruction the Bush administration put America through during their reign of terror but that's in the past right?

    The Bush tax cuts back were suppose to kick in 10+ years ago. Is this what GOP legislation is like? It take almost ten years for CONs to get their shit together and create jobs? That's fucked up!

    Posted on July 30, 2014 - 03:36 PM #