First quarter GDP revised downward - drops into negative territory at -1%
Sorry, guys. 0.1% 'growth' was super-optimistic
By Robert Laurie —— Bio and Archives--May 29, 2014
American Politics, News | Comments | Back To Full Article
One month ago, we received news that the U.S. economy was stagnating. According to the Bureau of Economic Analysis, first quarter GDP grew at a truly dismal rate of 0.1%. Dan wrote about how terrible that figure is, while I pointed out that forced spending via ObamaCare was the only reason it was as "good" as it was. Basically, by forcing Americans to spend money on pricy insurance policies they didn't want, the President had just barely managed to drag his negative GDP into positive territory.
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