The New York Times headline said it best: “Economy in First Quarter Was Worse Than Everybody Thought.”
On Wednesday, The New York Times reported that while the Great Recession, which ran from late 2007 to the middle of 2009, might be over, a new era of slow growth may have replaced it.
Six years after the United States economy entered into a recession in December of 2007, the economic recovery remains sluggish. The measures taken in an attempt to boost the economy—record government spending and an increasing national debt—have not resulted in the economic growth that was hoped for.
After better-than-expected jobs and economic growth reports the week before, Americans learned last week that they are wealthier than ever before.
In 2008, the U.S. economy was already reeling from the burst housing bubble, a liquidity crunch, and large financial institutions teetering on the edge of failure. Starting that September, the confluence of all those factors “culminated in a string of unprecedented events and government interventions” that marked the escalation of the financial crisis.
Today the U.S. Commerce Department announced the nation’s economy expanded at a 2.5 percent annual rate in the second quarter of 2013.
The Congressional Budget Office announced yesterday the budget deficit for the first 10 months of fiscal year 2013 totaled $606 billion. Today in “Breaking It Down” we put that number in context.
According to Fox News, 71% of registered voters think the federal government has too much power.
The national debt has increased nearly $1 trillion over the last year, about $3,200 (in just one year!) for every man, woman and child in the U.S.
All is not well in North Carolina, according to incoming governor-elect Pat McCrory. Addressing the state’s economic woes in Durham on Wednesday, NewsObserver reports that the state’s $2.5 billion in unemployment insurance debt and high unemployment had McCrory less than optimistic about the immediate future.