Forget Undershirts, Economic Growth (GDP) Revised DOWNWARD!!! Lies!!!!

[jackstraw45]

Proof the Bush administration has been artifically inflating economic numbers.

GDP rose 3.9% instead of 4.4% as the Bush administration earlier reported during in the first quarter of last year.

That means that economic growth SLOWED from the last quarter of 2003 to the first quarter of 2004..

Growth was 4.1% in the last quarter of 2003. The Bush administration needed the positive economic headlines so they announced the GDP swelled to 4.4% in the first quarter of 2004. But it SHRANK to 3.9% and WHERE ARE THE HEADLINES?!?!?

THEY LIED AGAIN!!!!!!!

Some articles

New article talking about revision downwards:
http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1088201411621&call_pageid=968350072197&col=969048863851
"U.S. cuts first-quarter GDP growth
Economy grew at 3.9% rate, a dip from previous 3 months

Higher imports, less bank service spending lower estimate

ANDREA HOPKINS
REUTERS NEWS AGENCY

WASHINGTON—The U.S. economy grew much more slowly than previously thought in the first quarter and inflation was higher, a report showed yesterday.

(cut)"



Article in MAY boasting of "better than expected" growth":

http://www.showmenews.com/2004/May/20040527Busi006.asp
"GDP posts 4.4 percent rate increase

Published Thursday, May 27, 2004

WASHINGTON (AP) - The economy grew at a 4.4 percent annual rate in the first quarter of this year, slightly faster than previously thought and fresh evidence that the recovery possessed good momentum as it headed into the current quarter.
(cut)"


This administration lies about EVERYTHING!!!

[bahrbearian]

1. SOB's

[leftyandproud]

2. um...

it was revised upwards a few months ago...
revisions are normal things for these type of stats.
3.9% is better than I would have expected anyway...it amounts to around 450 BILLION $$$ in new wealth being produced this year. An 11 trillion dollar economy growing at 4% is nothing to scoff at. European countries rarely crack 1%.

[jackstraw45]

3. YES...it was revised for 2004 QTR one to 4.4% from 4.2%..was WRONG

AND NOW that same quarter is revealed to be 3.9%

Yes, I'm not a moron and realize these things happen. But the Bush administration USED these false upward revisions as political fodder.

But 2004 Quarter 1, revised UPWARDS to 4.4% from 4.2% is revealed to be really 3.9%.

C'mon, the Commerce department puts out these numbers.

Who is head of the Commerce Department?

DON EVANS, Bush's number 1 buddy.

[jackstraw45]

4. Peter Kaminski: Are these Numbers Real?

From November 2003:

http://peterkaminski.com/archives/000344.html

I have no doubt Commerce cooked the books to make Bush* look good.

[JCMach1]

5. These numbers are meaningless...

[jackstraw45]

6. Oh really? Corporate Media would disagree....

http://msnbc.msn.com/id/3340965/

Will GDP be a boost for Bush?
Forecasters believe economy now on track for strong growth
ANALYSIS
MSNBC

Oct. 30, 2003 - Although the presidential election is still a year away, Thursday’s strong GDP report has seriously weakened — at least for now, and perhaps for good — the Democratic case against how President Bush has handled the economy.

(cut)

[kimchi]

7. Kick

We should search the archives and put all the lies and revisions of the economy together. I know I've seen quite a few threads pointing out other fabrications. (And are "fabrications" now considered manufacturing jobs, too?)

[Joe Fields]

8. The jobs numbers are meaningless also.

The Labor Department uses the most convoluted of models to "estimate" jobs growth. It's a good bet that half the jobs being touted haven't been created. For more info, hit link.



Joe Fields

[jackstraw45]

9. What about as propaganda?

How can you say they are meaningless?

They are used a propaganda...

Propaganda works (Half of Americans still believe Iraq behind 9/11).

[jackstraw45]

10. Kick

for the "great economic numbers" we were told about a few months ago that were revised from 4.2% to 4.4% when they were really 3.9%....

Just like the medicare bill that cost us HUNDREDS of billions of dollars more than the White House promised.

Until we respond with utter outrage, they'll do it again and again and again....