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Home Front Economy
Growth weaker than hoped, sez AP
2008-07-31
Read and learn as the AP spins.
WASHINGTON (AP) -- The country didn't get the energetic rebound in economic growth hoped for from the government's tax rebates in the second quarter, ...
Other than the 1.9% growth in GDP, which with a troubled housing market, auto market and election jitters seems pretty darned good.
... and the economy jolted into reverse at the end of 2007, raising new recession fears.
Except that the new growth eases recession fears.
The Commerce Department reported Thursday that gross domestic product, or GDP, increased at an annual rate of 1.9 percent in the April-to-June period. That marked an improvement over the feeble 0.9 percent growth logged in the first quarter of this year and the outright contraction in the economy during the final quarter of last year.

Still, the second-quarter rebound wasn't as robust as economists had hoped; they were forecasting growth at a 2.4 percent pace.
Posted by:Steve White

#8  rj's right. It's grandstanding, just like demanding the remaining State employees only make the Fed min wage during this emergency. It turns up the heat on the CA Donk legislature majority who keep trying to ram tax increases (go figure?) down the minority GOP's throat. It's deadlock time and the stakes are high
Posted by: Frank G   2008-07-31 21:56  

#7  Where are ya headed, Greg?
Posted by: DarthVader   2008-07-31 19:45  

#6  Fotsgreg, I think Arnold is bluffing to force the Cal government to act.
Posted by: rjschwarz   2008-07-31 18:31  

#5  Our wonderful liberal RINO governor here in Mexifornia just signed an order laying off 10 thousand part time state employees and ordering the state controller to investigate ways of reducing all 200 thousand state employee's pay rate to the $6.55 federal minimum.

As much as I'd love to see a lot of state fatcats get their pay slashed there are a lot of people who work for the state who will be devastated by this (even though it will never happen - the CSEA and SEIU will have it in court by this afternoon).

Sixty-four days and counting until I'm out of California and I can't wait.

Posted by: FOTSGreg   2008-07-31 17:29  

#4  Wait... I'm confused.

We had positive 0.9% growth? And now the pace has more than doubled to 1.9% annualized growth? Just what kind of 'recession' are we having with positive growth rates?
Posted by: Grenter, Protector of the Geats   2008-07-31 15:35  

#3  Ummmmm, fluffy bunnies - tastes just like chicken!
Posted by: Old Patriot   2008-07-31 15:28  

#2  The AP economists are probably looking at ponies in every stable and fluffy bunnies for all as an indicator.
Posted by: Mullah Richard   2008-07-31 14:00  

#1  There are fears that as the bracing tonic of the tax rebates fades,

Is the AP saying tax rebates are a good thing? Then perhaps they'd support more and deeper tax cuts?
Posted by: rjschwarz   2008-07-31 12:49  

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