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The Grade Is In!

- January 29, 2016

Despite Another Sign That The Obama Economy Continues To Struggle, Clinton Rates His Performance An "A," And Her Plans Will Make Matters Worse


TOP TAKEAWAYS

  • Today's announcement that the U.S. economy grew by an anemic 0.7 percent in the 4th quarter of 2015 is just the latest sign the Clinton-Obama economic policies are failing too many Americans.
  • Despite the economic reality, Clinton maintains the delusion that Obama deserves an "A" for his performance on the economy.
  • Clinton has decided to double-down on Obama's failed economic policies, introducing a tax plan that will shrink the U.S. economy, costs American jobs and lower Americans' wages.

DISSAPOINTING NEWS FROM THE 4th QUARTER GDP

Today, We Learned The U.S. Grew At Just 0.7 Percent During The 4th Quarter Of 2015. (Bureau Of Economic Analysis, 1/29/16)

The Associated Press Headline: "US Economy Slowed To Scant 0.7 Pct. Growth Rate Last Quarter" (Martin Crutsinger, "US Economy Slowed To Scant 0.7 Pct. Growth Rate Last Quarter," The Associated Press, 1/29/16)

In A "Sign Of Flagging Momentum," The U.S. Economy "Sputtered" In The 4th Quarter Of 2015. "The U.S. economy sputtered in the final months of 2015, a sign of flagging momentum amid global weakness and financial market turmoil. Gross domestic product, a broad measure of economic output, expanded at a 0.7% seasonally adjusted annualized rate in the fourth quarter, the Commerce Department said on Friday." (Jeffrey Sparshott and Josh Mitchell, "U.S. GDP Advances 0.7% In Fourth Quarter," The Wall Street Journal, 1/29/16)

The U.S. Economy "Bogged Down Again" To Conclude 2015, "Raising Questions About Whether The U.S. Is Losing Momentum." "The economy bogged down again at the end of 2015, raising questions about whether the U.S. is losing momentum. Gross domestic product - the value of everything a nation produces - expanded at a 0.7% annual rate from September to December. That's a big markdown from 2% growth in fall and 3.9% last spring." (Jeffry Bartash, "Fourth-Quarter GDP Growth Slows To 0.7%," MarketWatch, 1/29/16)

The U.S. Economic "Slowdown Could Renew Doubts" About The Nation's Current Trajectory. "The U.S. economy's growth slowed sharply in the final three months of 2015 to a 0.7 percent annual rate. Consumers reduced spending, businesses cut back on investment and global problems trimmed exports. The slowdown could renew doubts about the durability of the 6½-year-old economic expansion." (Martin Crutsinger, "US Economy Slowed To Scant 0.7 Pct. Growth Rate Last Quarter," The Associated Press, 1/29/16)

The "Poor GDP Report Comes At A Delicate Time" For The U.S. Economy Which Is Off To An Already Rough 2016. "The poor GDP report comes at a delicate time. U.S. stock markets have suffered big losses early in the new year and key segments of the economy such as manufacturing, energy and retailing are weak." (Jeffry Bartash, "Fourth-Quarter GDP Growth Slows To 0.7%," MarketWatch, 1/29/16)

Today's News Reaffirms The Attitudes Of Most Americans

49 Percent Of Americans Disapprove Of The Way Obama Is Handling The U.S. Economy, Compared To Just 39 Percent Who Approve. (The Economist/YouGov, 2000 R, 2.9% MoE, 1/15-19/16)

According To Gallup, U.S. Economic Confidence Rating Stands At -11. ("Gallup Daily: U.S. Economic Confidence Index," Gallup, Accessed 1/29/16)

57 Percent Of Americans Feel That "Things In The U.S. Today Are Going Badly." "Overall, 57% say things in the country today are going badly, while 42% say they're going well. That's a downturn compared to a poll conducted just after Thanksgiving, when 49% said things were going well compared to 50% who said they were going badly." (Jennifer Agiesta, "CNN/ORC Poll: 57 Pessimistic About U.S. Future, Highest In 2 Years," CNN, 1/27/16)

  • American Pessimism Is Currently At Its Highest Rating In More Than Two Years. "Nearly 6-in-10 Americans say things are going badly in the United States, the largest share to say so in more than two years, according to a new CNN/ORC Poll." (Jennifer Agiesta, "CNN/ORC Poll: 57 Pessimistic About U.S. Future, Highest In 2 Years," CNN, 1/27/16)

DESPITE THE ECONOMIC REALITY MOST AMERICANS FACE, CLINTON GIVES OBAMA AN "A" GRADE AND PLANS TO DOUBLE DOWN ON HIS POLICIES WITH HER OWN HARMFUL TAX AGENDA

In An Interview With The Boston Globe, Clinton Gave The Obama Administration An "A" For Its Overall Performance, Adding "I Don't Think He Gets The Credit He Deserves For Saving Our Economy." CLINTON: "I'd give him an 'A.' I don't think he gets the credit he deserves for saving our economy from falling into a great depression, for saving the auto industry which represents millions of jobs up and down the supply chain, for beginning the crackdown on Wall Street abuses with Dodd-Frank, for getting the Affordable Care Act passed, for really being as responsive as he could possibly be given the obstructionism that he faced with the Republicans in Congress." (Hillary Clinton Interview With The Boston Globe, 10/17/15)

Click To Watch

Clinton's New Tax Plan Will Reduce U.S. GDP By 1 Percent

According To Analysis By The Tax Foundation, Clinton's Tax Proposals Would "Reduce The Economy's Size By 1 Percent." "According to the Tax Foundation's Taxes and Growth Model, Hillary Clinton's tax plan would reduce the economy's size by 1 percent in the long run." (Kyle Pomerleau and Michael Schuyler, "Details And Analysis Of Hillary Clinton's Tax Proposals," Tax Foundation, 1/26/16)

Clinton's New Tax Plan Will Cost Over 300,000 American Jobs

According To Analysis By The Tax Foundation, Clinton's Tax Proposals Would Result In "311,000 Fewer Full-Time Equivalent Jobs." "The smaller economy results from somewhat higher marginal tax rates on capital and labor income." (Kyle Pomerleau and Michael Schuyler, "Details And Analysis Of Hillary Clinton's Tax Proposals," Tax Foundation, 1/26/16)

Clinton's New Tax Plan Will Reduce Americans' Wages By 0.8 Percent

According To Analysis By The Tax Foundation, Clinton's Tax Proposals Would "Lead To 0.8 Percent Lower Wages. "The plan would lead to 0.8 percent lower wages, a 2.8 percent smaller capital stock, and 311,000 fewer full-time equivalent jobs. The smaller economy results from somewhat higher marginal tax rates on capital and labor income." (Kyle Pomerleau and Michael Schuyler, "Details And Analysis Of Hillary Clinton's Tax Proposals," Tax Foundation, 1/26/16)

FOR THE MAJORITY OF AMERICANS ALREADY CONCERNED ABOUT THE ECONOMY, CLINTON'S AGENDA "PROMISES TO MAKE IT JUST A BIT WORSE"

The Wall Street Journal's James Freeman: "For Everyone Dissatisfied With The Obama Economy, The Clinton Agenda Promises To Make It Just A Bit Worse." "And although the Clinton tax hikes are ostensibly targeting the rich, with proposed changes such as a new surtax on high incomes and a Buffett Rule that sets a minimum tax rate on high earners, the Tax Foundation projects a decline of at least 0.9% in after-tax incomes for all taxpayers due to slower growth. So for everyone dissatisfied with the Obama economy, the Clinton agenda promises to make it just a bit worse." (James Freeman, "Hillary's $191 Billion Tax Increase," The Wall Street Journal. 1/26/16)

Fortune Magazine : Clinton's Tax Proposals Will "End Up Hammering Economic Output And Costing Jobs." "Hillary Clinton is going to have to answer questions about her tax plan in the coming day, as a new analysis claims Clinton's plan will involves hundreds of billions of taxes and end up hammering economic output and costing jobs." (Ben Geier, "Hillary Clinton's Plan Calls For $498 Billion In Taxes, Report Says," Fortune, 1/26/16)

The Washington Examiner : Clinton's Tax Proposals Would "Crimp Economy Growth And Lower Incomes For All Workers." "Hillary Clinton's plans for reform taxes would raise nearly $500 billion in a decade on paper, according to new research, but would crimp economic growth and lower incomes for all workers, meaning that the actual revenues collected by government would be lower." (Joseph Lawler, "Analysis: Clinton's $498 Billion Tax Hike Would Lower Growth And Wages," The Washington Examiner , 1/26/16)

Fortune Magazine : Clinton's Tax Proposals "Likely Won't Sit Well" With "Many Middle Class Voters." "This likely won't sit well with conservatives and many middle class voters. If Clinton wins the Democratic primary, expect her Republican opponent to talk about this study constantly - and for Clinton to offer rebuttals." (Ben Geier, "Hillary Clinton's Plan Calls For $498 Billion In Taxes, Report Says," Fortune, 1/26/16)


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