According to the latest data from the Bureau of Economic Analysis, GDP grew at a dismal rate of 1.9% in the first quarter of 2012 as opposed to the 2.2% that was initially reported. This would be a mediocre number during a regular time in the business cycle. It is an unmitigated disaster this far into the “recovery” from such a deep recession. This is the sort of growth that European countries have experienced in recent years.
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