In the fifth year of Barack Obama’s presidency, America’s job-starved economy remains weak, insecure and undernourished.
That’s not the economic picture reported on the nightly network news, where anchors report only good numbers and ignore the bad ones. But the painful reality is that the economy is slowing down, even from its widely acknowledged anemic levels.
The economic growth rate (as measured by the gross domestic product) has fallen, and many economists have lowered their GDP forecasts to a snail’s-pace 1.5 percent annualized rate of growth for the past three months. Some say it’s slowed to less than 1 percent.
The national jobless rate has fallen to 7.6 percent, but is still near or well over 8 to 9 percent in 18 states, including some of the most highly populated (New York, California, Michigan, New Jersey and Illinois).
http://www.humanevents.com/2013/07/29/the-obama-economys-lowered-expectations/
That’s not the economic picture reported on the nightly network news, where anchors report only good numbers and ignore the bad ones. But the painful reality is that the economy is slowing down, even from its widely acknowledged anemic levels.
The economic growth rate (as measured by the gross domestic product) has fallen, and many economists have lowered their GDP forecasts to a snail’s-pace 1.5 percent annualized rate of growth for the past three months. Some say it’s slowed to less than 1 percent.
The national jobless rate has fallen to 7.6 percent, but is still near or well over 8 to 9 percent in 18 states, including some of the most highly populated (New York, California, Michigan, New Jersey and Illinois).
http://www.humanevents.com/2013/07/29/the-obama-economys-lowered-expectations/
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