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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (109055)	7/29/2011 10:34:05 AM
From: tonto	3 Recommendations Respond to of 224750

The Obama economy is harming too many... WASHINGTON (AP) -- The economy expanded at meager 1.3 percent annual rate in the spring after scarcely growing at all in the first three months of the year, the Commerce Department said Friday. The combined growth for the first six months of the year was the weakest since the recession ended two years ago. The government revised the January-March figures to show just 0.4 percent growth -- down sharply from its previous estimate of 1.9 percent. High gas prices and scant income gains have forced Americans to pull back sharply on spending in the spring. Consumer spending only increased 0.1 percent this spring, the smallest gain in two years. Government spending fell for the third straight quarter. Stocks dropped in morning trading. The Dow Jones industrial average fell 100 points, and broader indexes also declined. "These numbers are extremely bad," said Nigel Gault, an economist at IHS Global Insight. "The momentum in the economy is clearly very weak."