Wednesday, April 29, 2009

The 0bama Recession Worsens

Thanks to the stupid policies of 0bama and his allies in congress, the recession has gotten worse, with a 6.1% annualized decline in real GDP for the first quarter (January - March) of this year:


WASHINGTON (AP) -- The U.S. economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in U.S. exports in 40 years overwhelmed a rebound in consumer spending.

The Commerce Department's report, released Wednesday, dashed hopes that the recession's grip on the country loosened in the first quarter. Economists surveyed by Thomson Reuters expected a 5 percent annualized decline.
Instead, the economy ended up performing nearly as bad as it had in the final three months of last year when it logged the worst slide in a quarter-century, contracting at a 6.3 percent pace. Nervous consumers played a prominent role in that dismal showing as they ratcheted back spending in the face of rising unemployment, falling home values and shrinking nest eggs.

So what's your plan 0bama? You want the US economy to keep falling until its equal with that of Kenya?

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