economy hits pre recession mark

Discussion in 'Politics' started by Truthmatters, Oct 28, 2011.

  1. Truthmatters
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    Economy in U.S. Surpasses Pre-Recession Level: Bloomberg Business News - MSN Money


    The value of goods and services produced in the U.S. surpassed its pre-recession level after 15 quarters, taking three times longer than the average for 10 previous recoveries since World War II.

    Gross domestic product expanded at a 2.5 percent annual rate in the period from July through September, the Commerce Department reported yesterday, the fastest pace in a year and up from 1.3 percent in the prior three-month period. After adjusting for inflation, GDP climbed to $13.35 trillion last quarter, topping the $13.33 trillion peak reached in the last three months of 2007.

    “The American economy finally has accomplished the recovery and has now entered the expansion,” said Neal Soss, chief economist with Credit Suisse in New York, who was an aide to former Federal Reserve Chairman Paul Volcker. “But the growth is clearly too slow to solve the most significant problems the economy faces: jobs and getting the public budgets under control.”
     
  2. Truthmatters
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    its going to get very bad for the republicans next year


    I wish they would join the rest of the country and help us recover.

    Unfortunately they dont want a healthy economy
     
  3. Truthmatters
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    how much you got to spend?

    what kind of guitar?
     
  4. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Just in time for Obama to get us downgraded again
     
  5. Conservative
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  6. Conservative
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    yeah, go join an OWS protest, and add it to their list of demands... free Martin acoustics or Gibson Les Pauls for everyone.
     
  7. Truthmatters
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    You see that report as 'election changing news?' Why? Do you understand what you posted?
     
  9. Mr. H.
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    The only way an improved economy would help Obama's reelection chances is if he gets on his soapbox and brags how he did it singlehandedly.

    Which he will do.
     
  10. Trajan
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    Trajan conscientia mille testes

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    gdp for the quarter was revised down to 2.0% btw:eusa_whistle:
     

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