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

To: Winfastorlose who wrote (1356804)	4/30/2022 2:21:43 PM
From: Wharf Rat	Respond to of 1573959

We need a jobs program. Oh, wait, we just passed the infrastructure bill, and it turns out that we need more workers. Where can we get them? How about at the border? Oh, wait.... One of the talking heads (not this guy) I heard yesterday said a lot of it was due to decreased government spending, like the end of child tax credit checks. I dunno. SCOTT HORSLEY, BYLINE: Well, if you looked at today's report card, you might think that the economy had fallen into a ditch. The Commerce Department said GDP shrank in January, February, March at an annual rate of 1.4%. And that would be a big letdown after the really strong growth we saw last year. But it is not as worrisome as it might sound. That first-quarter slump is mainly due to a drop in exports and inventories and government spending. If you look at the real core of GDP, which is consumer spending and business investment, they've actually held up pretty well. Personal consumption grew at an annual rate of 2.7% in the first quarter. That's an acceleration from the end of the last year. Private investment's up as well. Certainly the omicron of coronavirus infections was a drag on the economy in the early weeks of 2022. But Ben Herzon, who's a senior economist at S&P Global Market Intelligence thinks we're in for a more upbeat spring and summer. npr.org He won't be able to do much about inflation; it's global, resulting from covid, climate, and war disruptions. He/we are just a leaf on the wind for a while.