U.S. economic growth braked more sharply than initially thought in the fourth quarter amid a slow pace of stock accumulation by businesses and a wider trade deficit. Gross domestic product expanded at a 2.2 percent annual pace, revised down from the 2.6 percent pace estimated last month, the Commerce Department said on Friday.
Economists now think growth in gross domestic product, the broadest measure of goods and services produced across the economy, slowed sharply in early 2015.Forecaster Macroeconomic Advisers on Thursday predicted growth at a 1.2% pace in the first quarter, while others put their forecasts still lower. The Commerce Department will release its first official reading late this month.
This economic news comes at a time when the abdication of American world leadership has enabled terrorists to bring the world to a chaotic state. The United States is has determined it is wise to allow Iran to continue with its enrichment program and not destroy any of its centrifuges. In addition the United States would not only end sanctions, but give Iran billions of dollars. This will allow Iran to create even more chaos. This is the same Iran who did not allow the United Nations to inspect its enrichment program for years, after agreeing to inspections. This is the same Iran who has not honored one commitment it has made to the West. This is the same Iran who has vowed to destroy Israel. This is the same Iran who shouted “death to America” and danced in the streets when the Obama and Kerry negotiated agreement was announced.
The United States has had no economic recovery. The United States is over $8 trillion more in debt thus making true economic recovery even more difficult. The United States has surrendered its world influence. This has happened in the last six years. In November of 2008 a promise was made to the people of the United States that the United States would be fundamentally transformed. The current situation of the United States is a result of the policies necessary to bring about that fundamental transformation. The transformation promised is the same transformation called for by Karl Marx in the mid nineteenth century. Yes, Marx did specifically refer to the United States, the same United States Obama promised to transform.