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U.S. Economy At Stall Speed: Q2 GDP Figures Revised Downward

September 28th, 2012

In its third revision of GDP data for the second quarter of 2012, the Bureau of Economic Analysis  has posted a dismal set of numbers. The U.S. economy “grew” at a tepid rate of 1.3 percent in Q2 in 2012, versus a slightly higher but still weak rate of 2 percent in Q1. A rate of 1.3 percent growth, which is virtually stall speed, was only made possible by America’s massive structural mega-deficits. In FY 2012, the U.S. federal government deficit is projected to run at $1.3 trillion, representing more than 40 percent of the entire federal budget.

The anemic GDP figures for Q2 reflect an economy that remains in deep crisis. The only factor preventing a compete free fall of the U.S. economy are the massive deficits, which are unsustainable. Even a modest reduction of the deficit, however, would plunge the United States into a deep recession.






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