"Last Friday, the government reported the gross domestic product (GDP) number for the first quarter, and it was 2.2%. That was .8% lower than the 4th quarter’s 3% growth rate. It was a big disappointment because most economists were expecting growth numbers closer to the 3% range. The New York Times reported the economy thwarting numbers with a political bent that said, “The economic recovery slowed more than expected early this year, raising fears of a spring slowdown for the third year in a row and giving Republicans a fresh opportunity to criticize President Obama’s policies. . . . “When you look at the report in the totality, I think it shows that the private sector is continuing to heal from the financial crisis,” said Alan Krueger, chairman of the president’s Council of Economic Advisers. . . . Representative Kevin Brady, a Republican from Texas and vice chairman of the Joint Economic Committee, called the numbers “beyond disappointing.” (Click here to read the complete NYT report.)
at http://usawatchdog.com/the-illusion-of-an-economic-recovery/
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