US growth slows to 2.8% in fourth quarter

By Agence France-Presse
Friday, February 25, 2011 8:53 EDT
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WASHINGTON (AFP) – US economic growth slowed to 2.8 percent in the last quarter of 2010, the Commerce Department said Friday, a pace that was slower than initially estimated.

Growth for the last three months of the year was revised down from a previously announced 3.2 percent rate.

Agence France-Presse
Agence France-Presse
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  • Johnny Warbucks

    This is not good news for the banksters, I guess. They seem to be the only ones showing any ~wink, wink~ recovery. The rest of us…well, not so much.

    So, essentially, in this fine piece of corporate media propaganda, the US growth slows to 2.8% in fourth quarter from the growth that wasn’t taking place in the third quarter. If Groucho Marx were alive today, he would be the White House Press Secretary – although rumor has it the boy wasn’t much for bureaucracy, government and such high forms of theft and pillage.

  • Anonymous

    And according to a Goldman Sachs independent economical research group if the House republicans manage to pass their 61 billion doll budget cutr the GDP will fall another 2%..that will leave us what..? An .8% GDP…that should be an even better atmosphere for an incredible new depression era…!

  • Anonymous

    republicans worked so hard to strip the USA of our manufracting base by shipping jobs overseas and that made us a consumer society.Republicans and politicians forgot that the biggest consumer/producer here is government. Now, they want to cut off souce of revenue for our population. What will happen to GDP when medicare/medicaid is cut by 25% and SSI is reduced or no raises another reduction in GDP?

    what the private sector and the public sector has forgotten is that gov wages actually kept up with inflation unlike private sector employment. Government can not act like Koch roaches and plot illegally to destroy unions and undermine workers because of open government and government document archive requirements. Yet in the lairs of their corporate benefactors some politicians plot against the American people.

  • Anonymous

    Don’t go all sanctimonious on us now; Democrats are working just as hard, or harder, or ship jobs overseas too.

  • Taleisin

    I guess it might be a good idea to talk to your captain’s of industry.
    They made their money from the America but now they have invested in China,
    they are wanting a healthier China than a healthy USA.
    You are getting screwed both ways.