web counter Media Lies: It's official now

Tuesday, November 30, 2004

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It's official now

The economy really sucks.
Strong consumer spending and business investment and a slightly lower than previously reported trade deficit meant the US economy grew at a 3.9 per cent rate in the third quarter, the Commerce Department said.

The upward revision from the 3.7 per cent advance estimate was above consensus expectations and represented a rebound from 3.3 per cent growth in the second quarter.

Core personal consumption expenditures inflation, excluding food and energy, the Federal Reserve's preferred measure of inflation, was unchanged at a 0.7 per cent rate in the quarter - the lowest reading since the 1960s.
Lord only knows what the Bushies will do to us next.

Abolish the IRS? Create a national sales tax?