Economy Update: Still Sucking

| Fri Jul. 29, 2011 10:54 AM EDT

GDP grew last quarter at a rate of 1.3%. That's pretty sluggish. What's worse, as Matt Yglesias points out, GDP for the previous three years was revised substantially downward at the same time. So to summarize:

  • The Great Recession was worse than we thought.
  • The recovery was slower than we thought.
  • And the economy continues to sputter badly.

To address this, our current plan is to shut down the government and produce economic chaos for no reason whatsoever. Thanks, tea party!