I try to focus more on what politicians actually DO, rather than the blather they spew from their mouths, all parties, all levels of government. That said, whats this with Q1 GDP coming in at 3.2%? I thought Obama told us the new normal was 1.5% growth?
Obama didn't tell us that the new normal was 1.5% growth. Economists told us that 1.5 - 2% growth was the new normal.
There are ways to increase that growth rate, we could add to the supply of workers by providing all families with paid for child care, increase immigration into the country. Also, we can improve infrastructure such as trains, buses, etc. to make commuting faster and efficient, we can invest in human capital by improving education and making it more affordable. We can make it easier for people to move to where the jobs are located by creating more affordable housing in cities.
The 3.2% number is higher because of the one time effects of business inventory accumulation, and the decreased demand for imported goods.
If you strip these away, then the growth rate is 2%.
Because inventory accumulation occurred in this quarter, then inventory won't be accumulated in the 2nd quarter, so you're likely to see a subpar growth rate for the 2nd quarter.