Economy Grew 2 Percent In 3rd Quarter? Don't Believe What They Tell You!
“The U.S. economy expanded at a slightly faster 2 percent annual rate from July through September, buoyed by an uptick in consumer spending and a burst of government spending.”
“Growth improved from the 1.3 percent rate in the April-June quarter, the Commerce Department said Friday“.
And, you can bet the “good news” will be touted by the Obama Campaign every chance they get until the election.
But, as with the dubious unemployment numbers presented last month (where they inadvertently forgot to report first time unemployment filings from California), these numbers bear some explanation as well.
First, it’s important to remember that even with the third quarter uptick, annual growth for 2012 stands at 1.74% which is lower than the 1.8% growth in 2011.
A 3% growth rate is necessary to create enough jobs to just keep up with population growth. 4% will begin to put the 23 million unemployed/underemployed Americans back to work.
But, 2% will be touted as great news by the Obama Campaign and the main stream media they hold in their pockets. The country is going in the right direction, so why change course?
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