Skull Pilot
Diamond Member
- Nov 17, 2007
- 45,446
- 6,163
- 1,830
Too late. It's already happening. In spite of Republicans best efforts to stop it. Oops.
Really?
In case you hadn't noticed the economy is sliding backwards
US Census Bureau: Economic Indicators
LAMBRO: Romney
In a stunning report Thursday, the U.S. Commerce Department said the slowing economy barely grew at a snails pace 1.3 percent in the second quarter. Thats the economic equivalent of surviving on life support. In another time, this news might have been enough to sink Mr. Obamas re-election hopes and give Mr. Romneys candidacy a major boost....
However, the revised 1.3 percent growth rate was down from a dismal 1.7 percent rate the government had reported in August. That was below an anemic 2 percent pace in the first three months of the year, which has plummeted sharply from 3 percent at the end of 2011. The White House blamed the revision on the droughts across the Midwest, but the growth rate has been falling since last winter. Moreover, the 1.3 percent rate followed other signs that the economy had all but stopped growing.
Nationally, unemployment stayed between 8.1 percent and 8.3 percent for the year, though more than half of the states saw jobless rates rise in September (another story buried by the news media).
The government also announced last week that durable goods orders plunged 13.2 percent in August. It was the steepest decline since 2009. While manufacturing rose just slightly in September, it followed three months of severe contraction, falling by a 1.4 percent annual rate hardly a sign of a turnaround.
I don't know what flavor Kool Aid you're snorting these days.