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The weak recovery has been even more anemic than we thought. The news today should be that the nation's growth domestic product fell to 1.3%, which would have been the lowest since the recession ended. Instead, however, revisions to prior quarters' GDP darken the bigger picture. The first quarter, in particular, was just a disaster. Its growth rate was revised from a modest 1.9% to just 0.4%.
The recession looks much deeper, with a 8.9% rate of contraction for the U.S. economy in the fourth quarter of 2008, instead of the 6.8% decline previously thought. The quarter that followed also looks worse than first estimated with a 6.7% contraction, instead of 4.9%.
In the recovery, only the second quarter of 2010 was revised significantly upward, to 3.8% from 1.7%. The biggest downward revision was for the first quarter of this year, as already mentioned. A few quarters were revised down significantly, however.
Originally posted by haarvik
reply to post by spyder550
You apparently didn't read the article.
The recession looks much deeper, with a 8.9% rate of contraction for the U.S. economy in the fourth quarter of 2008, instead of the 6.8% decline previously thought. The quarter that followed also looks worse than first estimated with a 6.7% contraction, instead of 4.9%.
So this was BEFORE Repubs were sworn in.
In the recovery, only the second quarter of 2010 was revised significantly upward, to 3.8% from 1.7%. The biggest downward revision was for the first quarter of this year, as already mentioned. A few quarters were revised down significantly, however.
And after they took office, it move upward. You sir, are the traitor.
Originally posted by haarvik
reply to post by spyder550
You apparently didn't read the article.
The recession looks much deeper, with a 8.9% rate of contraction for the U.S. economy in the fourth quarter of 2008, instead of the 6.8% decline previously thought. The quarter that followed also looks worse than first estimated with a 6.7% contraction, instead of 4.9%.
So this was BEFORE Repubs were sworn in.
In the recovery, only the second quarter of 2010 was revised significantly upward, to 3.8% from 1.7%. The biggest downward revision was for the first quarter of this year, as already mentioned. A few quarters were revised down significantly, however.
And after they took office, it move upward. You sir, are the traitor.
edit on 29-7-2011 by spyder550 because: (no reason given)
Actually 2008 was before the democrats were sworn in and the chart you are showing is positive after the democrats were sworn in and slowing after the tea party was elected
As far as traitor --- me and my party are not driving the country off a cliff because the most we understand about credit is that they can put kitten pictures with american flags on the visa card. We are trying to fix the problem not really worriying about who is sleeping with whom
Originally posted by mishigas
We can see that you know nothing about economics. Kittens and flags? Who's sleeping with whom? What are you talking about.
TAX. and SPEND. That's the only way the Boy Blunder knows how to operate. He's a total loser along with the cretins Schumer, Pelosi, and Reid.
Originally posted by haarvik
So now the real truth. I guess TARP and all the other bailouts didn't work as they told us they would. We increased our national debt for nothing. Thanks Obama!
Atlantic News
The weak recovery has been even more anemic than we thought. The news today should be that the nation's growth domestic product fell to 1.3%, which would have been the lowest since the recession ended. Instead, however, revisions to prior quarters' GDP darken the bigger picture. The first quarter, in particular, was just a disaster. Its growth rate was revised from a modest 1.9% to just 0.4%.
So there you go. No good news, and no recovery any time soon. If you are unemployed, get used to it or move to where there are jobs.
Originally posted by spyder550
reply to post by Eurisko2012
You're right since the tea party got in and kept the republicans from doing anything substantive -- things have slowed down -- the idiocy with the debt ceiling thing - has made us look like the idiots you elected. Last year at this time I believe the gdp was growing at about 3.5. Go Tea Party -- taking America back -- way back.
Originally posted by 9Nania
Don't expect growth any time soon. We're heading into a third world war.
Originally posted by Eurisko2012
What is going on???
Even the democrats are calling Obama a loser!
edit on 30-7-2011 by Eurisko2012 because: (no reason given)
Originally posted by spyder550
Originally posted by Eurisko2012
What is going on???
Even the democrats are calling Obama a loser!
edit on 30-7-2011 by Eurisko2012 because: (no reason given)
Well actually not -- with the exception that he keeps conceding to much to frothing right otherwise
We have an increase in the job market, stocks have risen, Osama bin Laden has been killed, individual income has gone up, healthcare is now available for millions more Americans, homosexuals continue to progress, the U.S. government has become more efficient, federal budgets have been cut ..... so on and so forth.
edit on 30-7-2011 by spyder550 because: (no reason given)
Originally posted by spyder550
reply to post by Eurisko2012
You're right since the tea party got in and kept the republicans from doing anything substantive -- things have slowed down -- the idiocy with the debt ceiling thing - has made us look like the idiots you elected. Last year at this time I believe the gdp was growing at about 3.5. Go Tea Party -- taking America back -- way back.