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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (621791)	7/28/2011 2:46:27 PM
From: longnshort	Respond to of 1578260

"Obama reneged on the deal." oh oh Ted's gonna call someone a racist

To: i-node who wrote (621791)	7/29/2011 3:55:51 PM
From: tejek	Respond to of 1578260

While your party plays partisan games and fights among itself, and you make comments that are BS, the economy flounders. I know this is what you all want but the vast majority of Americans don't it. They are finding out the recession was much worse then originally estimated. We could have used the extra stimulus that Obama wanted but you all said 'no'. The party of no =s the GOP. Recession Took Bigger Bite Than Estimated By Alex Kowalski - Jul 29, 2011 5:30 AM PT The 2007-2009 recession gouged the world’s largest economy more deeply than previously estimated and the recovery lost momentum throughout 2010 before stalling this year, revised figures show, painting a bleaker picture that may raise concern over the outlook for U.S. growth. Gross domestic product shrank 5.1 percent from the fourth quarter of 2007 to the second quarter of 2009, compared with the previously reported 4.1 percent drop, the Commerce Department said today in Washington. The second-worst contraction in the post-World War II era was a 3.7 percent decline in 1957-58. The depth of the economic slump better explains why the jobless rate doubled, climbing from 5 percent at the start of the downturn to a 26-year high 10.1 percent in October 2009. The strongest quarter of the recovery is now the first three months of last year. Growth decelerated every quarter thereafter. “The overall recession is indeed deeper,” Steven Landefeld, director of the Commerce Department’s Bureau of Economic Analysis, told reporters this week. “This is the Great Recession, the deepest one we’ve had in the post-WWII era.” The economy expanded at a 1.3 percent annual rate from April through June of this year, less than forecast, the Commerce Department’s advance report for the second showed. Growth in the prior three months was revised down to 0.4 percent from 1.9 percent. At $13.27 trillion in the second quarter, GDP has yet to surpass the pre-recession peak. By the fourth quarter of 2009, the updated figures showed GDP was $205.5 billion less than previously reported, a cut equivalent to the size Ireland’s economy. read more............ bloomberg.com