If you’re an idiot, anyway:
The U.S. economy sank at a 5.7 percent pace in the first quarter as the brute force of the recession carried over into this year. However, many analysts believe activity isn’t shrinking nearly as much now as the downturn flashes signs of letting up.
The Commerce Department’s updated reading on gross domestic product, released Friday, showed the economy’s contraction from January to March was slightly less deep than the 6.1 percent annualized decline first estimated last month. But the new reading was a tad worse than the 5.5 percent annualized drop economists were forecasting.
The second sentence in the first paragraph is the “we can’t give bad news without a qualifier as long as Obama is President” bit of MSM cheer leading. The reality, of course, is that we’re collapsing…and those alleged signs of rebound? Not really happening – though the MSM will try to keep people misinformed on just how bad it is because the truth hurts…Democrats, that is.
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