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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (232370)	12/23/2007 5:41:13 AM
From: Nadine Carroll	Read Replies (2) of 794221

These guys don't give up, do they? The economy is "teetering on the edge" with 50% chances of a recession, says the NYT. GDP was almost 5% in the last quarter, and look, all the badmouthing about the retail sector didn't work either: Consumer Spending Surges in November Friday December 21, 5:20 pm ET By Martin Crutsinger, AP Economics Writer Consumer Spending Surges in November, Reducing Fears of Imminent Recession. WASHINGTON (AP) -- Consumers put aside worries about slumping home sales and soaring gasoline prices and headed to the malls in November, pushing spending up by the largest amount in 3 1/2 years. The better-than-expected surge lessened fears of an imminent recession. ADVERTISEMENT The Commerce Department reported Friday that consumer spending shot up 1.1 percent last month, nearly triple the October gain. It was the biggest one-month jump since a 1.2 percent rise in May 2004 and was significantly higher than the 0.7 percent gain analysts had expected. http://biz.yahoo.com/ap/071221/economy.html?.v=6 You begin to wonder how they would report actual bad numbers, then the answer comes to you: it depends entirely whether the occupant of the White House has a (D) or an (R) after his name.

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