BBC: US economic growth drops sharply
And it reinforces the view, recently put forward by the IMF, that the US economic slowdown will be longer and deeper than previously thought - and have a greater impact on the world economy.Bush is leaving quite a little mess for the next president. One can already hear the right wing media going after O or H, and simultaneously conveniently forgetting about junior's utter and grotesque evisceration of America. Can you just hear Limbaugh now.
The IMF report suggested that even by the end of 2008, the US economy would still only be growing at a year-on-year rate of 0.8%.
Research needs to be done on the relationship between wars erupting and the state of the economy. How many were started in a recession and as a method for reviving the economy.
Also how does the USA already in a full scale war, with billions and billions going into Iraq, square the war with a recession. If war traditionally revives the economy with increased governmental spending on the war effort, then why is this war creating the reverse, a recession. Could it be that we can't pay for it.