Scratch That

George W. Bush, January 31, 2007:

Just today, we learned that America’s economy grew at an annual rate of 3.5 percent in the fourth quarter of 2006. That means our economy grew at 3.4 percent last year, which is up from 3.1 percent in 2005. Ladies and gentlemen: The state of our economy is strong.

Not.

The U.S. economy was cooler than thought as last year drew to a close.

The Commerce Department says fourth-quarter growth has been revised to an annual gain of 2.2 percent. That’s a downward revision from the previous estimate of Gross Domestic Product put at 3.5 percent.

[snip]

The downgrading of fourth-quarter growth means the economy for all of 2006 grew just 3.3 percent.

at

2 thoughts on “Scratch That

  1. Ruth says:

    What a great economy. I guess that shows how healthy huge corporate executive bonuses are, huh?
    Holden, somebody’s got your pony:http://news.yahoo.com/photo/070227/photos_en/2007_02_27t180935_450x318_us_arts_potter;_ylt=An8XBDPsV4auDPj32bYFQFIDW7oF

    Like

  2. Nora says:

    Just for my curiosity’s sake, are there any items of economic news that they haven’t had to correct later because the original ones were too optimistic? Doesn’t anyone in the MSM call them on this?

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: