Representative Diane Black (R-TN-06) joined Charles Payne on Wednesday’s Fox News broadcast of ‘Cavuto Coast to Coast’ to discuss the possibility of a government shutdown, the inevitable blaming of Republicans by the mainstream media for it, and also the breaking news of Apple, Inc.’s decision to invest $350 billion in the United States which they say will create 20,000 new jobs. Payne opened the interview, asking, “Are the Republicans in danger of going into or cutting a deal that they don’t want because of PR pressure?” “We’re going to come out of this just fine,” Black answered. “There are always negotiations, as you know, Charles. Here in Congress we wait until the last minute which I don’t always agree with, but that’s where we are on this continuing resolution. In my opinion, we’re going to get a deal. We cannot, at this point in time, disrupt what you’ve already indicated, which is that the stock market is doing well.” Pivoting to the substance of the continuing resolution that the Democrats are balking at over the DACA non citizens, Black said, “We also need to fund our military, and this is very, very important that we don’t disrupt that. Right now, we have…
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‘Thanks, Obama!’ Former President Credits Himself for Strong Economy
Former President Barack Obama is taking credit for the robust economic growth that is taking place under President Trump. At a conference of mayors in Chicago, Mr. Obama congratulated himself Tuesday for strong employment numbers in the U.S. this year, saying his climate-change policies have contributed to growth.
Read the full storyCommentary: The Shocking Truth About Our Average Annual GDP ‘Growth’
by Robert Romano One of the greatest disappointments with the U.S. economy since the turn of the century has been its consistent underperformance, not growing above an inflation-adjusted average annual rate of 4 percent since 2000, and not above 3 percent since 2005. What has come in its stead the past 10 years is the slowest economic growth rate in U.S. history — even slower than the Great Depression. Restoring the U.S. to 3 percent or maybe even 4 percent growth has been one of President Donald Trump’s major goals, but getting there will not be so easy. Just take 2017. On an inflation-adjusted, annualized basis, there was 1.2 percent growth in the first quarter, 3.1 percent in the second quarter and 3.0 percent growth in the third quarter, according to data compiled by the Bureau of Economic Analysis. So, to get to 3 percent growth for the year, we’d need 4.7 percent growth in the fourth quarter, right? Wrong. The actual answer would be 14.5 percent. Why? How is that possible? Because annual GDP growth is calculated by the taking the four readings of the real GDP using chained dollars for two consecutive years, averaging each year out…
Read the full storyAugust Auto Slump Holds Down US Retail Sales
Sagging sales of autos held down overall US retail sales in August, with American consumers buying goods and services at their slowest pace in six months, government data showed Friday. However, the Commerce Department said it was unclear to what extent Hurricane Harvey had affected the monthly numbers, with the storm both hurting and helping sales…
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