Posted on 07/27/2012 6:16:55 AM PDT by kristinn
The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.
The Commerce Department also said Friday that the economy grew a little better than previously thought in the January-March quarter. It raised its estimate to a 2 percent rate, up from 1.9 percent.
Growth at or below 2 percent isn't enough to lower the unemployment rate, which was 8.2 percent last month. And most economists don't expect growth to pick up much in the second half of the year. Europe's financial crisis and a looming budget crisis in the U.S. are expected to slow business investment further.
SNIP
The Commerce Department also revised its growth estimates for the past three years. Those revisions showed that the economy contracted 3.1 percent in 2009, slightly less than the 3.5 percent previously reported. Growth in 2010 was put at 2.4 percent, down from 3 percent, with growth in 2011 at 1.8 percent instead of 1.7 percent.
The U.S. economy has never been so sluggish this long into a recovery. The Great Recession officially ended in June 2009.
(Excerpt) Read more at chicagotribune.com ...
Yeah Obama prints so much money that soon a gallon of milk will cost a million dollars and so then they’ll call this consumer spending growth(GDP) and say that we are growing so much and that we are all millionaires. Yeah when an apartment costs a billion $ to rent , bread costs a milion $ .so inflation is called growth. Amazing these liars get away with it.
” - - - began with Johnson.”
Johnson, Johnson - - - ? Do you mean “Great Society” Johnson?
THAT Johnson? The LB Johnson and renowned “Credibility Gap” Johnson?
The Johnson who sold America down the river with his creation of Medi”care?”
The Johnson who declared a “War On Poverty?”
BTW, I heard on Fox yesterday that after 15 TRILLION dollars have been spent on LBJ’s “War on Poverty” there are more people in poverty in the USA than before the War on Poverty began.
Yeah, I remember that Johnson - - - .
These charts/graphs are even better! Thanks!
I guess that means maybe Obama didn't really bring the U.S. economy from the brink after all! /s
Some of the commercials are beating the snot out of the Communist thug.
It Worked and You didn’t build that.
Hopefully Romney has not peaked. I want 57 states.
Why stop at 57? :)
Will continuing to follow the “We’re moving in the right direction” Obamaidiot-Cloward and Piven-failboat road lead to an America that lives in economic destructive hell? I see the real answer more and more each day, each, week, each month.....=.=
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