What do you think U.S. Commerce Department: U.S. economy worst in 50 years?
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What do you think U.S. Commerce Department: U.S. economy worst in 50 years?
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It's official. The United States is mired in its worst economic downturn in half a century, the U.S. Commerce Department reported Wednesday.
Data released by the department show that the U.S. economy shrank by 6.1 percent during the first three months of the year – a full percentage point worse than what analysts polled by Thomson Reuters had been predicting.
It was the second straight quarter the U.S. economy contracted by more than 6 percent. The fourth quarter of 2008 produced a 6.3 pecent decline – the biggest drop in 25 years.
The back-to-back bad quarters created the worst economy over a six-month period in 50 years, the commerce department said.
Businesses cut expenses for items such as equipment and software, and U.S. exports dropped to their lowest level in four decades during the quarter than ended March 31, giving little hope that the recession will ease this year.
The announcement comes a day after consumer confidence increased 2.2 percent, the biggest jump since 2007, a bit of optimism dashed by the economic figures Wednesday.http://www.bizjournals.com/triangle/stories/2009/04/27/daily42.html
But we neeed up to 60 million illegals here them and all family ,members?
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Susie Q
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President Bush could not get legislation passed to improve the economy during the last two years of his administration thanks to the house and senate being controlled by the democratic majority. Now the liberal media controlled democrats are blaming everything on President Bush. Before throwing stones at President Bush, the democrats need to take a look in their own back yard.
The only reason obama wants to give amnesty to all the illegal mexicans is because he knows he badly needs their vote if he wants to be re-elected in 2012. A lot of the people that were mesmerized by him during the previous campaign are beginning to have their eyes opened. They are beginning to see that obama is all fluff and no substance. He is the great liar and the great pretender. So obama will need the votes of all these illegal mexicans next time. |
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Lucky
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Gary Locke, Commerce and Hilda (La Raza) Solis, Labor are about as big a losers as you will find. |
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Lucero
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To Sarah: I doubt that Obama or anybody else is thinking about elections in 2012. With the economic crisis the way it is now, we could be part of China by 2012. We owe them plenty of money and we have none. We have outsourced many of our jobs, unemployment is getting worse--California can't even pay it's benefits out. We are in wars overseas. This is a MAJOR mess. We will be lucky if ANYBODY wants to be president in 2012 of what is left of this great country. If we don't fix it soon.... |
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Sunshine
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I think it's just more proof the Republicans were a disaster. Bush went into office with a large surplus, courtesy of Clinton. By the end of his eight years, we were in a huge deficit and this mess. Poor, poor leadership, bad decisions made by the politicians in charge. |
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Loretta C
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they think illegals are helping the economy. how when they get free hand outs. |
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Javed I
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Read and decide, no comments
http://www.spacewar.com/reports/Asian_Poll_Foresees_US_Losing_Superpower_Status_To_China_999.html |
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Tucson Region
http://www.azstarnet.com
Sheriffs: Are you in school legally?
By Howard Fischer
Capitol Media Services
Tucson, A... |
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No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
