Thursday, July 31, 2008

Dude, Where's My Recession?

Despite the best efforts of the Democrats and media to portray the economic slump as the next Depression, the GDP rose in the second quarter to 1.9%.

Not great, but not a recession either, as all the experts had predicted.
The government said Thursday that economic growth picked up in the second quarter as tax rebates energized consumers somewhat. The rebound followed a treacherous patch where the economy actually jolted into reverse at the end of 2007.
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The Commerce Department reported Thursday that gross domestic product, or G.D.P, increased at an annual rate of 1.9 percent in the April-to-June period.

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