Economy reacting to Democrat Congress?
The economy nearly stalled in the first quarter with growth slowing to a pace of just 0.6 percent. That was the worst three-month showing in over four years.Isn't that just typical of the AP to not notice the biggest factor was the change in Congress and the threat of all those new taxes which causes people to cut back on investments. And, with the threat to trading importers also needed to get their goods in now before the Democrats screw that up too.
The new reading on the gross domestic product, released by the Commerce Department Thursday, showed that economic growth in the January-through-March quarter was much weaker. Government statisticians slashed by more than half their first estimate of a 1.3 percent growth rate for the quarter.
The main culprits for the downgrade: the bloated trade deficit and businesses cutting investment in supplies of the goods they hold in inventories.