Recovery: US Economy has Worst Quarter in 3 Years

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That recovery that Obama and the media keep talking about… it’s coming any day now. That must be why the economic results every month keep underperforming the optimistic projections.

And while the recovery remains a talking point on Pennsylvania Avenue, rather than a reality on Main Street.

The U.S. economy contracted in the first quarter of 2014, the latest stumble for a recovery that has struggled to find its footing since the recession ended almost five years ago.

Gross domestic product, the broadest measure of goods and services produced across the economy, contracted at a seasonally adjusted annual rate of 1.0% in the first three months of the year, the Commerce Department said Thursday. It was the first time economic output contracted since the first quarter of 2011, when it declined at a 1.3% pace.

Naturally the official word blames the cold because that way they can switch to promoting the total destruction of the economy through carbon credit taxation.

The estimate is down significantly from BEA’s 0.1% advance estimate released last month and makes Q1 the U.S. economy’s worst quarter in three years.

But don’t worry. The economists have more optimistic economic projections. They consulted the entrails, donated to Organizing for Action and they’re promising a bright future ahead. And then the real numbers will come down.

  • CowboyUp

    They keep piling on arbitrary and capricious regulations based on top secret data, and the economy takes it on the chin.

    It’s interesting how the country is in a recession If a GOP president’s GDP drops below 3%, according to the msm, and a dp president with a negative GDP is presiding over a recovery.

    • UCSPanther

      ” a dp president with a negative GDP is presiding over a recovery.”

      Just like the Soviets claiming that they were doing really well even as their empire was collapsing under their feet…

      • CowboyUp

        Yep, and the excuses are similar too. The soviets had 70 years of bad weather, and many of the leftists are blaming this contraction on the severe winter.

        • objectivefactsmatter

          Bad weather is caused by racism, which is inherent to capitalism.

          Huh. I guess we need communism after all.

  • Habbgun

    Ask any B2B operation how the economy is doing. Then step back. They’ll want to hit something.

    Ask any B2B operation.how many new business are out there to sell to. Then run. They’ll want to hit someone. Hard.

    • hktony

      Europe business is also drowning under regulations from a bunch of office workers in brussels who have never had a real job. And apparently they think things are great outside their office windows. Here I need to recall stuff because they decided to impose stupid regulations. Before these new regulations the product was fine. Now its not. Who suffers?? They dont care!

      • Habbgun

        No they don’t. Funny how the EU was founded on lowering tariffs between nations and then it made the bureaucracies more powerful. 9/11 in the US was the best thing that happened to the bureaucracies here. Suddenly government had a real role and then they did the bait and switch and instead of a protective role it just grabbed more authority. It is not easy to make an honest living.

  • retired

    The figures are bad……..That is if you believe the numbers being put out by official sources & not allowing for inflation!If you add in inflation & are sceptical of government mis-information the figures are downright worase then scary!

  • Hard Little Machine

    The Bloomberg is calling a stunning victory!