The economy pulled out of a dangerous rough patch in the spring, thanks largely to strong exports, but the rebound isn't expected to last. Economic slowdowns overseas could make exports tail off just as Americans are hunkering down after the bracing impact of rebate checks wanes, plunging the country into another rut later this year.
"There will be heavy sledding for the U.S. economy during the next couple of quarters," predicted Lynn Reaser, chief economist at Bank of America's Investment Strategies Group.
Gross domestic product, or GDP, grew at a 3.3 percent annual rate in the April-June quarter, its fastest pace in nearly a year, the Commerce Department reported Thursday. The revised reading was much better than the government's initial estimate of a 1.9 percent pace and exceeded economists' expectations for a 2.7 percent growth rate
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You see, here's the problem. For Democrats to win big in November, they have to paint a picture of "doom and gloom". If things are going well, generally speaking, the incumbent usually wins. They can't have that. So, they will bring up the price of gas, job losses, or just make up things like the fact we're in a recession.
Slowing down? You bet. Recession? I don't think so anymore. I believed that at one point, but with the growth we're seeing, it just doesn't fit the definition.
Democrats can't afford that perception to be let out of the bag.
Travis
travis@rightwinglunatic.com
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