Friday, September 28, 2012

US Economic Growth Estimate Plummets - Unexpectedly

Obamanomics marches on. As usual, Team Obama's original estimate was greatly exaggerated.
The government chopped its estimate of U.S. growth in the second quarter, as consumers and businesses spent and invested less than initially believed.

Gross domestic product in the April-to-June period increased by 1.3% instead of 1.7% as previously reported, the Commerce Department said Thursday in its third and final review of second-quarter growth.
They're blaming the drought? Horse manure!

This is the April-June estimate. That's well before the harvest for all you city slickers.

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