June 25, 2004

Subject Icon: It's the Stupid Economy
Posted by Foreign Correspondent Skates (Toronto) at 2:42 PM

First-Quarter Economic Growth Revised Downward

Big surprise! The glowing economic numbers reported for Q1 were ... lies. Oh, big surprise.

The economy grew at a 3.9 percent seasonally adjusted annual rate in the first quarter of this year, a slowdown from the 4.1 percent pace of the previous quarter, the Commerce Department said.

That contrasted with the department's earlier estimates that the nation's output of goods and services, or gross domestic product, had jumped in the first quarter. Commerce initially said in April that first quarter GDP had increased at a 4.2 percent annual rate, and then in May raised the estimate to 4.4 percent.

Why does anyone believe what this government says about the economy, Iraq, or anything else?


Comments
Post a comment









Remember personal info?