It’s hard to be surprised by today’s big headline from the Associated Press:
Economy’s rebound not as strong as first thought
Click here to read AP story.
Gee, really? Any observer of economic news had to figure there was a strong chance that the very optimistic third quarter gross domestic product numbers, showing 3.5% growth, would be revised downward.
Most of this alleged growth came as a result of cash for clunkers and homebuyers tax credits, anyway. And now third quarter GDP has been revised downward to 2.8% growth.
It’s just not enough to bring the jobs back, is it?