Sunday Dumbfuckery: Romney Would Win Popular Vote In Rematch Against Obama: CNN Poll. Yeah, When Snowballs Exist In Hell.


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Romney would win popular vote in rematch against Obama: CNN poll

 

By Jessica Chasmar The Washington Times

Former presidential nominee Mitt Romney would win the popular vote if a rematch of the 2012 election against President Obama were held today, a CNN/ORC poll has revealed.

 

According to the poll, if the 2012 election were held again today, Romney would receive 53% of the popular vote, and Mr. Obama would receive 44%, CNN reported. Obama beat Romney 51%-47% in the actual election.

 

The poll said, however, that the former Massachusetts governor would lose against Hillary Clinton by double digits in a hypothetical election.

 

Mrs. Clinton would earn 55% of the vote, with Mr. Romney at 42%.

 

“Politically speaking, there is an interesting group of people who would not vote for Obama but would pick Clinton over Romney,” said CNN Polling Director Keating Holland. “It turns out that nearly seven in ten of them are women, and 56% are independents.”

 

The poll also indicated that Mrs. Clinton’s controversial remarks she made on her book tour, in which she said she and husband Bill Clinton were “dead broke” when they left the White House, may have hurt her image.

 

The number that says that Mrs. Clinton shares their values dropped from 56% in March to 51% now, and the number that says she cares about people dropped from 56% to 53%, CNN reported.

 

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This is what happens when dumbasses are allowed to own a major network, and those dumbasses are TeaTardedRepubliCANT Pseudo-Freudian, Psycho-Sexual,
Pro-caucasian, Pro-Racist, Anti-LGBTQA1, Anti-Feminist, Reich Wing GOPretender Conselfishservative, NRA-Gun Loving, Nut Bag, bottom feeding,
racist, ass backwards, white supremacists, Koch Brothers & A.L.E.C. controlled morons, greedy, wealthy, caucasian, special interest groups,
asshole Party Members.

Ain’t no muthafuckin way in the fires of holy hell UnFitt Lyin Mitt Romney can win an election for feces sweeper in an elephant parade.

Thats all mine, I made it up.

 

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The New York Magazine Interview: Hillary Clinton


 

By Jueseppi B.

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Hillary in Midair

She’s learned from her mistakes. Three years before November 8, 2016, she’s working hard to be relaxed, calm, easy. But, all the while, the old Clinton gears are whirring.

 

By Joe Hagan

 

For four years, Hillary Rodham Clinton flew around the world as President Barack Obama’s secretary of State, while her husband, the former president Bill Clinton, lived a parallel life of speeches and conferences in other hemispheres. They communicated almost entirely by phone. They were seldom on the same continent, let alone in the same house.

 

But this year, all that has changed: For the first time in decades, neither one is in elected office, or running for one. Both are working in the family business, in the newly renamed nonprofit that once bore only Bill’s name but is now called the Bill, Hillary, and Chelsea Clinton Foundation, which will hold its annual conference in New York next week.

 

“We get to be at home together a lot more now than we used to in the last few years,” says Hillary Clinton. “We have a great time; we laugh at our dogs; we watch stupid movies; we take long walks; we go for a swim.

 

“You know,” she says, “just ordinary, everyday pleasures.”

 

In the world of the Clintons, of course, what constitutes ordinary and everyday has never been either. So the question was inevitable: Given who he is, and who she is, does Bill, among their guffaws over the dogs and stupid movies, harangue her daily about running for president?

 

To this, Hillary Rodham Clinton lets loose one of her loud, head-tilted-back laughs. “I don’t think even he is, you know, focused on that right now,” she says. “Right now, we’re trying to just have the best time we can have doin’ what we’re doin’. ”

 

There’s a weightlessness about Hillary Clinton these days. She’s in midair, launched from the State Department toward … what? For the first time since 1992, unencumbered by the demands of a national political campaign or public office, she is saddled only with expectations about what she’s going to do next. And she is clearly enjoying it.

 

“It feels great,” she says, “because I have been on this high wire for twenty years, and I was really yearning to just have more control over my time and my life, spend a lot of that time with my family and my friends, do things that I find relaxing and enjoyable, and return to the work that I had done for most of my life.”

 

Relaxing, for a Clinton, especially one who, should she decide to run, is the presumptive Democratic nominee for president in 2016, does not seem exactly restful. The day before we speak, she was awarded the Liberty Medal by the National Constitution Center in Philadelphia—presented by Jeb Bush, another politician weighted with dynastic expectations and family intrigue, who took the opportunity to jest that both he and Clinton cared deeply about Americans—especially those in Iowa, New Hampshire, and South Carolina.

 

Afterward, Clinton stepped backstage, a red-white-and-blue ribbon around her neck pulled taut by a saucer-size gold medal. “It is reallyheavy,” she said, with that plain-home midwestern tone she deploys when she wants to not appear the heavy herself. In the room with her were some of her close advisers—Nick Merrill, a communications staffer and acolyte of Hillary’s suffering top aide, Huma Abedin; and Dan Schwerin, the 31-year-old speechwriter who wrote all the words she had spoken moments ago. Local policemen with whom Clinton had posed for photos milled about behind her.

 

Outside was the usual chorus accompanying a Clinton appearance, befitting her status as the most popular Democrat in America: news helicopters buzzing overhead and protesters amassed across the street who raised signs that read benghazi in bloodred paint and chanted antiwar slogans directly at her as she spoke at the outdoor lectern.

 

Though she was officially out of the government, it was not as if she could leave it, even if she wanted to. That week Clinton had met with Obama in the White House to discuss the ongoing Syria crisis, and now Obama was on TV that very evening announcing a diplomatic reprieve from a missile attack on Syria—a series of decisions that Clinton had lent her support to every step of the way. “I’ve been down this road with them,” she tells me the next day. “I know how challenging it is to ever get [the Russians] to a ‘yes’ that they actually execute on, but it can be done. I think we have to push hard.”

 

 

Clinton has taken a press hiatus since she left the State Department in January—“I’ve been successful at avoiding you ­people for many months now!” she says, laughing. She is tentative and careful, tiptoeing into every question, keenly aware that the lines she speaks will be read between. In our interview, she emphasizes her “personal friendship” with Obama, with whom she had developed a kind of bond of pragmatism and respect—one based on shared goals, both political and strategic. “I feel comfortable raising issues with him,” she says. “I had a very positive set of interactions, even when I disagreed, which obviously occurred, because obviously I have my own opinions, my own views.”

 

Read The Rest Of The Story.

 

Next: How being secretary of State was more than a job

 

 

Next: Why Clinton insisted on hiring her own staff.

 

 

Next: How Hillary used her tenure at State for a more intimate purpose.

 

 

Next: Her first major public stage since leaving the State Department.

 

 

Next: “There’s a danger there of her again becoming the front-runner.”

 

 

Next: Chelsea is now the chief Bill Clinton gatekeeper.

 

Thank you New Yorker Magazine.

 

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The Daily Word From Barack’s House: Brother Bill Explains “ObamaCares.”


 

By Jueseppi B.

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Former President Bill Clinton Explains the Affordable Care Act

 

Yesterday, former President Bill Clinton spoke about the benefits of the Affordable Care Act from Little Rock, Arkansas.

 

Click here to watch President Clinton’s full speech.

 

President Clinton’s Remarks on Health Care Policy and The Affordable Care Act

 

Published on Sep 5, 2013

On Wednesday, September 4, President Clinton delivered remarks from the Clinton Presidential Center on the critical role a high quality, affordable and accessible health care system plays in the United States and any country’s economic and social well being. Throughout his public career and now through the work of the Clinton Foundation, President Clinton has championed increasing access to health care and improving health systems for everyone.

 

 

 

President Obama Visits Sweden 

Yesterday, President Obama arrived in Stockholm for a brief visit ahead of the G-20 meeting in St. Petersburg. His trip marks the first-ever bilateral visit by a U.S. President to Sweden.

READ MORE

 

 

Innovating to Improve Disaster Response and Recovery

Last week, the White House Office of Science and Technology Policy and FEMA challenged a group of over 80 top innovators from around the country to come up with ways to improve disaster response and recovery efforts.

READ MORE

 

 

President Obama Meets with Congressional Leaders on Syria

This week, President Obama met with Congressional leaders to discuss the situation in Syria.

READ MORE

 

 

White House Schedule – September 5, 2013

 

In the morning, the President will hold a meeting with the King and Queen of Sweden. There will be a pool spray after the meeting at the Royal Palace.

 

Afterwards, the President will depart Stockholm en route Saint Petersburg, Russia. The President’s departure from Stockholm-Arlanda International Airport as well as the arrival at Pulkovo International Airport is open press.

 

In the afternoon, the President will host a bilateral meeting with Prime Minister Abe of Japan. There will be a travel pool spray at the top of the meeting.  Following this meeting, the President will take part in an official G-20 Arrival and Leaders Welcome. There will be pre-set pool coverage of the arrival.

 

Afterwards, the President will participate in G-20 Working Session One. The working session is closed press.

 

In the evening, the President will participate in a G-20 working dinner. This working dinner is closed press. There will be pre-set pool coverage of the arrival at the dinner.

 

The President will remain overnight in Saint Petersburg, Russia.

 

 

Thursday, September 5 2013 All Times ET

 

3:35 AM: The President meets with the King and Queen of Sweden.

 

 

4:40 AM: The President departs Stockholm, Sweden.

 

 

5:55 AM: The President arrives Saint Petersburg, Russia.

 

 

6:50 AM: The President holds a bilateral meeting with Prime Minister Abe of Japan.

 

 

8:35 AM: The President participates in an Official G-20 Arrival and Leaders Welcome.

 

 

9:00 AM: The President participates in G-20 Working Session One.

 

 

12:00 PM: The President participates in a G-20 working dinner.

 

 

6:30 PM: The Vice President hosts a reception for leaders of labor organizations.

 

 

Speeches and Remarks September 05, 2013

 

Remarks by President Obama and Prime Minister Abe of Japan Before Bilateral Meeting at the G20 Summit

 

 

 

President Obama’s Bilateral Meeting with Prime Minister Abe of Japan

September 05, 2013 | 6:08 |Public Domain

 

President Obama and Prime Minister Shinzo Abe of Japan speak to the press before a bilateral meeting at the G20 Summit in St. Petersburg, Russia.

 

 

 

 

Katherine Vargas
Katherine Vargas

September 05, 2013
11:17 AM EDT

 

Vice President Joe Biden ceremonially swears in Thomas Perez as Secretary of LaborVice President Joe Biden ceremonially swears in Thomas Perez as Secretary of Labor, at the Department of Labor in Washington, DC, Sep. 4, 2013. Also pictured are (from left) Rafael Perez, Ann Staudenmaier, Amalia Perez, and Susana Perez. (Official White House Photo by David Lienemann)

 

On Wednesday, I had the great honor to attend the ceremonial swearing-in ceremony of Secretary Tom Pérez at the Department of Labor. Secretary Pérez will undoubtedly be a fierce advocate for working men and women across America, including Latinos who comprise 15% of the labor force in the US.

 

During his remarks, Secretary Pérez shared his own personal story and how he has “lived the American dream.” The son of Dominican immigrants, he was raised in a modest home in Buffalo, New York. The constant encouragement from his family and mentors and an unwavering commitment to working hard ultimately led him to pay his way through college by working as a garbage collector and working at a warehouse. He attended Brown University and Harvard Law School. After earning his law degree, Secretary Pérez has had an impressive career in both elected and appointed office, most recently as Assistant Attorney General for the Department of Justice Civil Rights Division.

 

Read More

 

 

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President Barack Obama and Prime Minister Fredrik Reinfeldt of Sweden look out a window of Rosenbad prior to their bilateral meeting in Stockholm, Sweden, Sept. 4, 2013. (Official White House Photo by Pete Souza)

President Barack Obama and Prime Minister Fredrik Reinfeldt of Sweden look out a window of Rosenbad prior to their bilateral meeting in Stockholm, Sweden, Sept. 4, 2013. (Official White House Photo by Pete Souza)

 

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Hillary And Barack


 

By Jueseppi B.

 

 

 

 

Former Secretary of State Hillary Rodham Clinton arrives at the White House in Washington, Monday, July 29. It's the most talked-about lunch in the nation's capital. President Obama and Ms. Clinton are dining privately at the White House Monday. Jacquelyn Martin/AP

Former Secretary of State Hillary Rodham Clinton arrives at the White House in Washington, Monday, July 29. It’s the most talked-about lunch in the nation’s capital. President Obama and Ms. Clinton are dining privately at the White House Monday.
Jacquelyn Martin/AP

 

 

Barack Obama & Hillary Clinton To Meet For Private Lunch | HPL

 

 

 

 

 

Raw: Hillary Clinton Arrives for Obama Meeting

 

Published on Jul 29, 2013

It’s the most talked about lunch in the nation’s capital. President Barack Obama and former Secretary of State Hillary Clinton are dining privately at the White House Monday. (July 29)

 

 

 

 

Obama and Hillary Clinton lunch, ‘get a chance to catch up’

 

By Carrie Dann, NBC News

 

For President Barack Obama and former Secretary of State Hillary Clinton, friendship is what’s on today’s menu.

 

The two Democrats and former rivals met for lunch Monday in a private dining room at the White House, spawning a frenzy of predictable media speculation about whether they might be putting their heads together about Clinton’s much-rumored 2016 run.

 

And – adding to that speculation – Clinton is now also scheduled to have breakfast Tuesday with Vice President Joe Biden, considered a top potential rival for the Democratic nomination.

 

White House spokesman Josh Earnest told reporters at a daily briefing that the meal between Obama and Clinton was simply a chance for the two pols to pal around.

 

“Over the course of the last four years … Secretary Clinton and the president have developed not just a strong working relationship, but also a genuine friendship,” he said. “And so, it’s largely friendship that’s on the agenda for the lunch today. So it’s not a working lunch as much as it is an opportunity for the two, who saw each other on a pretty frequent basis for the past four years, to get a chance to catch up.”

 

Earnest added that the president invited Clinton to the meal, calling its purpose “chiefly social.”

 

The menu includes grilled chicken, pasta jambalaya and salad.

 

But — while the meeting likely featured more conversation about strategies for Egypt and Syria than strategies for New Hampshire and Iowa —  this meal between a current commander in chief and a potential 2016 White House contender has fueled both enthusiasm and opposition for the former secretary of state.

 

Clinton, who left the State Department in February, has been delivering speeches around the country since departing the top diplomatic post.

 

While she’s been mum about her future presidential plans, top Democrats — from Senate Majority Leader Harry Reid to House Speaker Nancy Pelosi — have offered vocal support for a Clinton run. A pro-Clinton super PAC called “Ready for Hillary” has united veterans of both the Clinton and Obama political operations.

 

And an opposition group, dubbed Stop Hillary PAC, is also ramping up its efforts, even as the earliest presidential nominating contests are still well more than two years away.

 

Thank you NBC POLITICS

 

 

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From The HuffPost:

 

Obama, Hillary Clinton All Smiles During Private Lunch Meeting 

 

WASHINGTON — It’s the most talked about lunch in the nation’s capital.

 

President Barack Obama and former Secretary of State Hillary Clinton are dining privately at the White House Monday. While it’s not the first time the pair have seen each other since Clinton left the administration earlier this year, each of their get-togethers are closely analyzed.

 

That’s because Clinton is considered a leading contender to replace Obama, though she hasn’t said whether she’ll launch another presidential campaign.

 

The president is also being watched for signs of who he will support in the race to replace him. Vice President Joe Biden is also believed to be considering a run for the White House, potentially leaving Obama caught between two of his closest advisers.

 

Thank you The HuffPost.

 

 

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The Daily 411 From Barack’s Blog


By Jueseppi B.

 

Barack'sblog

 

 

 

The White House LIVE….

 

January 31, 2013 1:00 PM EST

White House Fireside Hangout with Cecilia Muñoz on Immigration Reform

The White House

 

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Watch Live: A Fireside Hangout on Immigration Reform

 

Cecilia Muñoz, Director of the White House Domestic Policy Council, will join the latest “Fireside Hangout” – a 21st Century take on FDR’s famous radio addresses – to talk about immigration reform.

 

Watch the hangout live on WhiteHouse.gov/Immigration, or tune in to the White House’s Google+ page today, January 31 at 1:00 p.m. ET.

 

 

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Today’s Schedule

All times are Eastern Standard Time (EST).

 

10:00 AM: The President and the Vice President receive the Presidential Daily Briefing.

 

 

1:00 PM: Press Briefing by Press Secretary Jay Carney.

 

 

1:00 PM: The Vice President will attend the Senate Democratic Policy and Communications Committee Lunch.

 

 

 

President Obama Signs New Directive to Strengthen our Work to Advance Gender Equality Worldwide

 

By Valerie Jarrett and Samantha Power  January 30, 2013  The White House Blog

 

 

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Secretary of State Hillary Rodham Clinton watches as President Barack Obama signs a Presidential memorandum, “Coordination of Policies and Programs to Promote Gender Equality and Empower Women and Girls Globally,” in the Oval Office, Jan. 20, 2013. (Official White House Photo by Pete Souza)

 

 

President Obama knows that promoting gender equality and empowering women and girls at home and abroad is not only the right thing to do, but the smart thing to do, as Secretary Clinton has famously said.  A growing body of evidence- and our own experience- shows us that families, communities and countries are more prosperous and secure when, as President Obama said this month, “you unleash the power of everyone, not just some”.

 

That’s why we’ve taken steps to achieve that simple and profound goal, from establishing the White House Council on Women and Girls, to launching a multilateral initiative to expand women’s political and economic participation, to developing a new strategy to prevent and respond to violence against women, to implementing a national action plan to promote the inclusion of women in conflict resolution and peace processes, to focusing on women and girls for greater impact in our global health and food security initiatives.

 

And Secretary Clinton’s leadership in integrating the advancement of women and girls into U.S. foreign policy has been indispensable.  With the tireless assistance of our first-ever Ambassador at Large for Global Women’s Issues, Melanne Verveer, she has elevated these issues in our diplomacy and ensured progress for women and societies for generations to come.

 

Today, President Obama took a critical step to institutionalize all these efforts by signing a Presidential Memorandum to strengthen and expand U.S. government capacity and coordination across all agencies to better promote gender equality and empower women and girls. In the Memorandum, President Obama reaffirmed that “promoting gender equality and advancing the status of all women and girls around the world remains one of the greatest unmet challenges of our time, and one that is vital to achieving our overall foreign policy objectives.”

 

President Obama recognizes that in order to translate our commitment into impact we need dedicated professionals with the expertise and stature to lead our efforts and hold us accountable, which is why the Memorandum directs the Secretary of State to designate an Ambassador at Large reporting directly to the Secretary to head the office of Global Women’s Issues.

 

Secretary-designate Kerry is equally committed to ensuring the continued elevation of these issues at State. He welcomed today’s news, saying, “In the Senate I’ve made promoting the rights of women and girls a priority, not just because it’s the right thing to do, but because societies that empower the talents of their entire populations are more stable and more prosperous. It’s why we created a sub-committee in the Foreign Relations Committee to specialize on these issues and give it the attention it deserves. Last week at my confirmation hearing, I spoke with Sen. Boxer about the importance of maintaining the momentum Secretary Clinton and Ambassador Melanne Verveer have built through their innovative office and laser-like focus. I applaud the President for institutionalizing these efforts and ensuring these issues continue to receive the high-level attention they deserve at the State Department, at USAID, and across the U.S. government.”

 

President Obama’s Memorandum also affirms the critical linkages between gender equality and our broader development goals, and ensures that the Senior Coordinator for Gender Equality and Women’s Empowerment at the U.S. Agency for International Development (USAID) will continue to play a prominent role in advising the USAID Administrator on key priorities for U.S. development assistance.  Finally, the Memorandum establishes an inter-agency working group on international gender issues, chaired by the National Security Advisor, which will provide strategic guidance, promote government-wide coordination, and spur new action across agencies from the Millennium Challenge Corporation (MCC) to Peace Corps to the Department of Health and Human Services.

 

As we move forward, we are grateful for the continued leadership and unwavering commitment of champions in Congress and so many advocates inside and outside governments the world over who are advancing a future in which the dreams of our daughters and sons are equally within reach. Together, building on decades-long movements for equality, we have made tremendous strides over the last four years. And as long as women and girls continue to suffer violence daily, are barred from owning land or running for office, are kept from schools and vital health services, and are unable to access credit and skills to run businesses and earn a living, our work will continue with increasing urgency.

 

Valerie Jarrett is a Senior Advisor to the President and Chair of the White House Council on Women and Girls.

 

Samantha Power is the Special Assistant to the President and Senior Director for Multilateral Affairs and Human Rights at the National Security Council.

 

 

 

A Record Year for the American Wind Industry

 

Heather Zichal
By  Heather Zichal  January 30, 2013  The White House Blog

 

Since taking office, President Obama has been focused on building an energy economy in the United States that is cleaner as well as more efficient and secure. As part of that effort, the Administration has taken historic action over the past few years to support the development and deployment of renewable energy that will create new jobs and jumpstart new industries in America. And we are making significant progress towards those goals.

 

Today, the American Wind Energy Association (AWEA) has released its Fourth Quarter Market Report for 2012, which highlights a number of exciting milestones.

 

The American wind industry had its best year ever in 2012, with more than 13,000 MW installed. In the fourth quarter alone, more than 8,000 MW were deployed – an all-time record for the industry and twice as much wind as the previous record set in the fourth quarter 2009.

 

Thanks to this growth, the wind industry was able to achieve another milestone in 2012: achieving 60 GW of cumulative wind capacity in the United States. To put it another way, the United States today has more than 45,000 wind turbines that provide enough electricity to power 14.7 million homes – roughly equivalent to the number of homes in Colorado, Iowa, Maryland, Michigan, Nevada, and Ohio combined.

 

To underscore how quickly wind power is taking root in America, consider this: it took 25 years to reach 10 GW, which occurred in 2006. But it only took four years to grow from 20 GW (2008) to 60GW (2012). And last year – for the first time ever – wind power provided the largest share of new electric capacity (42%) in the United States. Of course, more wind also means less carbon pollution that contributes to climate change. With 60 GW installed, it’s like taking 17.5 million cars off the road.

 

All of this progress builds on the encouraging trends in renewable energy over the past few years. Since 2008, the U.S. has doubled renewable generation from wind, solar, and geothermal sources, and America is now home to some of the largest wind and solar farms in the world. Wind power currently contributes more than 10% of total electricity generation in six states, with two of these states above 20%. And nearly seventy percent of the equipment installed at U.S. wind farms last year – including wind turbines and components like towers, blades, gears, and generators – was made here in the United States, up from just 35 percent in 2005.

 

This is what we can achieve when we commit ourselves to smart and effective policies that promote clean energy technologies, create jobs, and grow our economy. That’s why, in addition to making the largest investments in clean energy in American history, President Obama fought for – and secured – an extension of the Production Tax Credit (PTC). If the PTC had expired at the end of last year, it would have landed a punishing blow to the domestic wind industry resulting in layoffs for tens of thousands of American workers.

 

But the President refused to let that happen. So instead of layoffs, we are hearing stories from wind companies all across the country – from Iowa and Colorado, to Ohio and Illinois – that are retaining and re-hiring workers. Instead of moving business overseas, these companies are investing in the next generation of American-made wind technology and are poised for additional growth in the years ahead.

 

 

 

Advance Estimate of GDP for the Fourth Quarter of 2012

 

Alan Krueger
By  Alan Krueger  January 30, 2013  The White House Blog

Alan B. Krueger is the Chairman of the Council of Economic Advisers.

 

According to the “advance” estimate released by the Bureau of Economic Analysis today, real GDP edged down 0.1 percent at an annual rate in the fourth quarter of 2012, amid signs that Hurricane Sandy disrupted economic activity and Federal defense spending declined precipitously, likely due to uncertainty stemming from the sequester.  This was the first quarterly drop in real GDP in three-and-a-half years (see first chart below). Over the last fourteen quarters, the economy has expanded by 7.5 percent overall, and the private components of GDP have grown by 10.9 percent. During the four quarters of 2012, real GDP grew by 1.5 percent, the third consecutive year of economic expansion.  Over this period, real GDP growth has been led by an expansion in the private sector (see second chart below).

 

Several private sector components of GDP continued to make positive contributions to growth in the fourth quarter.  Personal consumption expenditures, the single largest component of GDP, increased by 2.2 percent at an annual rate in 2012:Q4, as compared with 1.6 percent in the previous quarter. Residential investment grew by 15.3 percent last quarter and has increased for seven consecutive quarters, the longest streak since 2004-2005. Business investment in equipment and software grew at its fastest pace in more than a year, rising 12.4 percent.

 

Federal defense purchases declined at an annual rate of 22.2 percent in the fourth quarter of 2012, the largest quarterly decline in 40 years.  A likely explanation for the sharp decline in Federal defense spending is uncertainty concerning the automatic spending cuts that were scheduled to take effect in January, and are currently scheduled to take effect on March 1st. The decline in government spending across all levels reduced real GDP by 1.33 percentage points in the quarter.

 

In addition, a decline in exports of goods and services and slower inventory investment both subtracted from real GDP growth in the fourth quarter.  Both international trade flows and inventory accumulation could have been affected by disruptions caused by Hurricane Sandy, although a precise estimate of the effect of the hurricane on GDP is not available.  Nonetheless, the BEA reported that Hurricane Sandy destroyed $44 billion worth of fixed capital, which indicates one of the storm’s significant economic effects.

 

Although GDP is the broadest measure of economic activity, other indicators of economic performance suggest that the economy continued to recover in the fourth quarter, despite the impact of Hurricane Sandy and uncertainty surrounding fiscal issues.  For instance, at an annual rate, aggregate production-worker hours increased by 2.2 percent and industrial production rose by 1.0 percent.  Moreover, as the Administration stresses with each economic report, indicators of economic performance can be volatile and are subject to substantial revision.  The average absolute revision from the “advance” estimate of real GDP growth to the most current data is 1.3 percentage points.

 

Some of the fiscal issues that may have weighed on the economy in the fourth quarter of 2012 were resolved with the passage of the American Taxpayer Relief Act in early January, which provided more than 98 percent of Americans and 97 percent of small businesses with the certainty that their income taxes will not rise. Today’s report is a reminder of the importance of the need for Congress to act to avoid self-inflicted wounds to the economy.  The Administration continues to urge Congress to move toward a sustainable federal budget in a responsible way that balances revenue and spending, and replaces the sequester, while making critical investments in the economy that promote growth and job creation and protect our most vulnerable citizens.

 

 

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