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Obama Boom: GDP revision still1.8%

by Phantom Ace ( 3 Comments › )
Filed under Economy, Headlines, Misery Index at May 26th, 2011 - 10:07 am

The Progressive propaganda media was expecting the GDP revision to be stronger than the initial 1.8% reported. Well they have egg on their faces once again! The revised GDP numbers matchthe original 1.8% growth reported. With the official inflation rate running at 6% and the real number at 10%, we are in stagflation, 70’s style.

The Commerce Department says the overall economy grew at an annual rate of 1.8 percent in the January-March quarter.

That was the same as the government’s first estimate a month ago. Consumer spending grew at just half the rate of the previous quarter. And a surge in imports widened the U.S. trade deficit.

The Obama Boom continues to be proven a myth invented by the media. We are in economic decline with no end in sight.

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This entry was posted on Thursday, May 26th, 2011 at 10:07 am and is filed under Economy, Headlines, Misery Index. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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