If Democrats were hoping for good news on the economy leading into Tuesday’s elections they didn’t get. Third GDP came in at an anemic 2.0%: The U.S. economy grew at a 2 percent annual rate in the third quarter as consumer spending climbed the most in almost four years, a sign the expansion is developing [...]
Commerce Department Revises 3rd Quater GDP Downward… Again
December 22, 2009 By Leave a Comment
Two months the media and Obama Administration were trumpeting the announcement that third quarter GDP had grown at an annualized rate of 3.5%. Unfortunately, their celebrations were a bit premature the Commerce Department today announced their final estimate of third quarter GDP… Not surprisingly third quarter GDP was a lot lower than they originally estimated: [...]
Third Quarter GDP Rises to 3.5%… But…
October 29, 2009 By Leave a Comment
From Reuters: The U.S. economy grew in the third quarter for the first time in more than a year as government stimulus helped lift consumer spending and home building, fueling an unexpectedly strong advance. Signaling the end of the worst recession in 70 years, the Commerce Department on Thursday said the economy expanded at an [...]
Train Wreck: GDP Decline Twice as Bad as Obama Admnistration Forecast
August 25, 2009 By Leave a Comment
Ouch, this isn’t good news for President Obama’s agenda… The White House has been using some pretty rosy economic forecasts to sell his agenda. However, those rosy forecasts have finally crashed head-on into economic reality. In short, GDP declined roughly twice as much as they predicted and their out year deficit forecasts will be roughly [...]
Loading ...
Connect With Me: