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GDP grew at 2% in Q3; 2012 Growth Slower Than 2011
Who knew???????????

by Breitbart News 26 Oct 2012, 5:40 AM PDT 31 post a comment
The nation's weak economic recovery continued in the third quarter of 2012, with the growth rate reaching a sluggish 2%--largely fueled by a "burst" of government spending, according to news agencies.

The growth rate was a modest improvement on the 1.3% expansion of gross domestic product achieved in the second quarter, and surpassed market expectations, which had been low.

The 2% rate may yet be revised; last month the rate for the second quarter was revised downward from 1.7% to 1.3%.

GDP growth for the past year remains stuck at an average of 1.74 percent, below last year's average of 1.8%.

Republican presidential nominee Mitt Romney has repeatedly criticized President Barack Obama's economic performance, pointing out that the growth rates for 2012 are lower than those for 2011.

He will likely use the new GDP growth figure to make that point again today in a highly anticipated economic speech in Iowa.
"In 4 more OMao years you won't like how America looks....I guarantee it."
“When injustice becomes law, resistance becomes duty.” -- Thomas Jefferson
But this can't be, we are in the middle of a remarkable economic recovery Rolleyes
The law? The law is a human institution...
And the only reason it hit 2% was because of extra government spending dumped in this quarter to pull it up.

As I understand it government spending is roughly 25% or slightly more, of our total GDP. Obama's whole shtick has been to spend enough government money to keep the GDP in a state of positive growth. Don't forget a recession is defined as 2 consecutive quarters of negative growth.
Brick, proud to be a member of since Sep 2012.
And in the Q3 GDP numbers, business investing is -1.3%.

This does not bode well for unemployment rates.
support the agenda to get national reciprocity
Small Business Consulting
Welcome to the new norm.

Entitlement cuts will lead to a resurgence of Occupy Wall Street and Greek-like riots.
Coops;30986 Wrote:Welcome to the new norm.

Yup...........socialistic behavior.........if you can't save your ass, lie about it.
"The colors, the colors. Has anybody seen my good friend John?" Then he lit up a banana and he hung up.

Al Bundy.

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