Legal Commentary

Meanwhile, Back At The Economy . . .

By Big Tent Democrat

GDP for the 4th quarter of 2010 revised sharply downward:

Budget cuts by state and local governments hurt the economy more than originally thought, according to a government release Friday. Gross domestic product, the broadest measure of economic activity, was revised lower to an annual growth rate of 2.8% in the three months ending in December. The initial reading had been for a 3.2% growth rate in the period. That's a surprising dip, given that economists were expecting the rate to be revised upward to 3.3%.

Surprise will be the reaction this year as the economy struggles along with little job growth and federal government spending cuts. Our Lost Decade proceeds apace.

Speaking for me only

Full post as published by TalkLeft on February 25, 2011 (boomark / email).