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McClatchy

Expect another ho-hum year for the economy in 2013

Weighing on the new year’s fiscal forecast are ongoing debt problems in Europe; improving but unsteady growth in developing nations; and tremendous political uncertainty over taxes, debt and deficits in the United States. These all add up to expectations for another ho-hum year.

There is a twist that makes 2013 different than the two prior years, however. During 2011 and 2012, optimism was high that things were turning around, only to give way to a sobering reality later in the year.

“I think that when we look at 2013, maybe the overall growth rate is not going to be a whole lot different, but I am more optimistic that we will exit 2013 on a stronger note,” said Nigel Gault, chief U.S. economist for forecaster IHS Global Insight. “I think we have an underlying acceleration just starting up.”

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I think McClatchy had wildly overconfident expectations.

Mark1971 on December 31, 2012 at 9:47 PM

What with Obamacare, more regulation, wasted money, more taxation etc?

You don’t say.

CW on December 31, 2012 at 9:48 PM

If by “ho-hum” you mean “in the crapper”, then yeah. That’s about what I expect.

Lost in Jersey on December 31, 2012 at 9:51 PM

If by “ho-hum” you mean “in the crapper”, then yeah. That’s about what I expect.

Lost in Jersey on December 31, 2012 at 9:51 PM

Yes.

Heigh Ho, Heigh Ho it’s off to work I go becomes

Ho Hum, Ho Hum, It’s jobless I’ve become.

Drained Brain on December 31, 2012 at 10:15 PM

Wow, someone’s really going out on a limb with this assessment, huh?

ButterflyDragon on December 31, 2012 at 10:29 PM

If by “ho-hum” you mean “in the crapper”, then yeah. That’s about what I expect.

Lost in Jersey on December 31, 2012 at 9:51 PM

Ah… I almost fondly remember the glory days of “in the crapper…”

Gingotts on December 31, 2012 at 10:29 PM

Suuuuurrrrreeee. My health insurance costs are going up 41% this year, but next year will be better? Oh yeh! How could I forget! It will be FREE!!!

txhsmom on December 31, 2012 at 10:43 PM

Obama can fix that strengthening economy, no problem.

astonerii on December 31, 2012 at 11:02 PM

The Depression will continue until the electorate improves.

Count to 10 on December 31, 2012 at 11:10 PM

I knew election night that we would be in for just more of the same. I still can’t believe so many people voted for this.

juliesa on January 1, 2013 at 1:37 AM

another ho-hum year

Looking at these numbers, last year was indeed a “ho-hum” year, if ho-hum means utter disaster.

#3 According to one calculation, the number of Americans on food stamps now exceeds the combined populations of “Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming.”

Ho-hum, indeed.

Rebar on January 1, 2013 at 2:09 AM

The President told the American people exactly what he would do if re-elected and he won. Better start getting used to it.

chumpThreads on December 29, 2012 at 9:56 AM

rogerb on January 1, 2013 at 6:56 AM