2Q GDP Slows To 1.5%
Good news / bad news. The good news is that the first time in recent memory, GDP was revised UP for a quarter with 1Q GDP inching up to 2.0% from the previously reported 1.9%. The bad news is that 2Q GDP dropped a full half-percent from 2.0% to a meager 1.5%. That’s quite a steep drop given how paltry 2% growth is to begin with. In other words, as bad as the economy was in the first quarter of this year, the second quarter saw that level of economic growth decline by 25%.
And President Obama (with his Virginia cheerleaders Tim Kaine, Mark Warner and Gerry Connolly in tow) has the audacity to claim that his economic plan worked?
4 Responses to “2Q GDP Slows To 1.5%”
Why do I get the feeling that things are going to get worse before they get better?
I get worse so you can justify voting for Romney…………who comes across more and more like an intl dork…….look how much things have turned around since thePresident came into office…think Nate, you want it to
“look how much things have turned around since thePresident came into office”
Indeed! We’re operating a deficit that’s just shy of our GDP, and is bigger than the first 41 presidents combined…. we’re carving our way thru the actual interpretations of the Constitution and acting more like a third world despot than a President….we have a scandal that rivals the Watergate foul-up where this time an actual Border Patrol agent was killed by that foul-up — yet liberals would really like to sweep it under a rug,… and all the while, job creation is dropping ….not rising….and 1 in 6 people just hit the welfare rolls. Nice going.
Monk – I do not understand the comment that the deficit is bigger than the first 41 Presidents combined. The President came into office with a deficit of $11 billion, which had doubled under Bush. Where does your comment fit in? I hear it on Romneys ads and it just doesnt seem right?????
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