Economy Update: Still Sucking

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!

WE DON'T KNOW

What's going to happen next as the headlines grow crazier and more disconcerting by the day. But we do know the job of an independent, unrelenting press is more important than ever—and the ongoing commitment of MoJo readers to fight for a democracy where facts matter and all can participate is absolutely vital.

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