Economy Grows at Weakest Rate in a Year

[wicket]

http://story.news.yahoo.com/news?tmpl=story&ncid=&e=3&u=/ap/20040929/ap_on_bi_go_ec_fi/economy

The U.S. economy grew at an annual rate of 3.3 percent in the spring, the government reported Wednesday. That was significantly better than a previous estimate but still the weakest showing in more than a year.

The Commerce Department said the April-to-June increase in the gross domestic product — the country's total output of goods and services — was revised upward by 0.5 percentage point from its estimate just a month ago that the economy expanded at a 2.8 percent pace in the second quarter.

Even with the revision, the 3.3 percent GDP growth rate was down significantly from the 4.5 percent rate of increase turned in during the January-March quarter as consumers, buffeted by rising energy prices, cut back sharply on their spending in other areas during the spring. It marked the slowest growth rate since a 1.9 percent increase in the first three months of 2003.

The upward revision Wednesday in GDP for the second quarter was sure to be cited by the Bush administration as proof that the economy is regaining its footing and the recovery from the 2001 recession remains on track.

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We've turned the corner! :eyes:

[Psst_Im_Not_Here]

1. Rated it up!

Great article and eye catching headline. We need this to be top on Yahoo news

[Eye and Monkey]

2. "Weakest"??? - hmm, "weakest" starts with a W, doesn't it?

[Yavin4]

3. As The Cheap Debt Era Fades...

the economy will slow and eventually crash. The "growth" that we've been seeing for the past three years has been directly tied to the exploding debt levels in this country. Now that Uncle Alan is raising the price of debt, this "growth" will fade away completely.

[ozymandius]

4. Just a reminder...

The first debate is tomorrow. These figures should still be fresh in people's minds.

[wicket]

5. kick

:kick:

[Yo_Mama_Been_Loggin]

6. I can hear Chimpy now

Well the economy sucks but it's not as bad as we thought it would be. Talk about lowered expectations.

[Zorra]

7. Bu$h has really wrecked the country in every way. How in the world

can anyone vote for him?

[RUMMYisFROSTED]

8. The $64,000 question.

[barb162]

10. they will vote for him because he will tell them things are moving

in the right direction. I liked that line especially when he said it in December 2003 when a pathetic 1,000 jobs were created.

[LiberalFighter]

11. So gw* wants the economy to tank?... should ask him why he does

And if he says he doesn't then why does he say it is going in the right direction?

[barb162]

12. personally, I think he doesn't care if the economy tanks or not

but his line seems to work very well. If one job is created per month, he would still stay the economy is moving in the right direction or we just hit another soft patch. For 4 yrs he has been using these lines and the stupes believe him and cheer for him. I think all the polls can't be wrong; millions of people are buying his crap. As long as he and his rich buddies make out like bandits they can move to a nice foreign country and leave America in shambles.

[struggle4progress]

9. "Bush will take us all around the bend!" eom