How the Obama administration cooked the books to get 5% growth
...If true, the 5 percent number is grossly misleading and may have been used to make Obama look less inept in managing the economy.
The Commerce Department fudged the numbers by inserting the entire year's worth of Obamacare spending into 3rd quarter GDP. Presto! Instant 5% growth!
Back in June, when we were looking at the final Q1 GDP print, we discovered something very surprising: after the BEA had first reported that absent for Obamacare, Q1 GDP would have been negative in its first Q1 GDP report, subsequent GDP prints imploded as a result of what is now believed to be the polar vortex. But the real surprise was that the Obamacare boost was, in the final print, revised massively lower to actually reduce GDP!In layman's terms, they initially put Obamacare in to make Q1 look less bad, then took it out when nobody was looking after they decided to blame their woes on the "polar vortex."
Fast forward 6 months, and with a small uptick in actual consumer spending (probably due to those falling oil prices, for which, btw, Obama can't claim even one iota of credit), it's time to reinsert the Obamacare factor to really pump up the numbers.