The U.S. economy continues to stagger forward growing merely two percent in the third-quarter, down from the original estimate of 2.5 percent. The announcement comes on the heels of the supercommittee’s failure to prescribe spending cuts badly needed to address the fiscal crisis in….
This morning, the Commerce Department reported the economy grew at an annual rate of 2.5% percent in the third quarter.
The Commerce Department revised up its estimate of second quarter gross domestic product growth to 1.3%.
In case anybody thought the economy was out of the woods, this morning brought another disappointing economic report.
This morning the Commerce Department released its advance estimate for second quarter gross domestic product.
A sharp decline in consumer spending was the primary driver behind the slow growth.
Today to the Bureau of Economic Analysis (BEA) released the advanced estimate 4th quarter GDP numbers. The report shows that GDP increased 3.2% in final quarter of 2010.
This week it was announced that Ireland is receiving a bailout from the European Union and the International Monetary Fund for $113 billion to combat the country’s ongoing financial crisis.
Today, the Bureau of Labor Statistics released monthly state and regional unemployment numbers for October. The report shows 19 states and the District of Columbia recorded an unemployment rate decrease, 14 states saw an unemployment rate increase, and 17 states experienced no change.
We thought it might be helpful to re-release our “Fiscal Cheat Sheets,” which outline key economic and fiscal repercussions of government overspending. Please see below for an excerpt from “Unsustainable Spending.”