Here is a hot news item
from U.S. Treasury Department Secretary Tim "Tax Cheat" Geithner as he
was testifying to Congress on July 24, 2012: "The economy is not growing
fast enough. Unemployment is very high." No kidding! As if we
Americans did not already know that!
Just for the record:
Just for the record:
- The "official" U-3 unemployment rate is presently 8.2 percent, while the "unofficial but, some would say, more realistic" U-6 unemployment rate is 14.9 percent.
- According to the Bureau of Economic Analysis, the Gross Domestic Product (GDP) of the U.S. increased at an annual rate of 1.9 percent in the first quarter of 2012. That growth rate is quite slow.
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