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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!
