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4 Bumps

Economic Summer of Recovery or Wreckovery?

The GDP number for the second quarter got revised sharply downward by a third, dropping from the initial estimate of 2.4% last month to 1.6%.
Per the Commerce Department this is mainly dependent on Government Spending. Private Sector isn't improving at the rate Obama's team claimed it would. How would you rate The Obama Administration's claims vs. reality?


Asked by grlygrlz2 at 2:25 PM on Aug. 30, 2010 in Politics & Current Events

Level 39 (106,530 Credits)
This question is closed.
Answers (17)
  • I'll pick wreckovery for $787 billion, please, grly

    Answer by 29again at 11:05 PM on Aug. 30, 2010

  • I think the Congress and the Obama admin need to just get out from behind the wheel. I knew their "plan" wouldn't work. Now instead of things being even a little better we have increased our debt to a magnitude our grandchildren won't be able to pay off.

    Answer by yourspecialkid at 4:24 PM on Aug. 30, 2010

  • There is no recovery. At least, not in our part of the country. People are still being laid off. Businesses are shutting down. And there is nothing going on in the construction or housing industries.

    Answer by NannyB. at 2:28 PM on Aug. 30, 2010

  • Here in Fl. no recovery, homes and jobs being lost. The rest of the country the same. Very sad if you ask me.

    Answer by mollgirl at 2:34 PM on Aug. 30, 2010

  • When I go grocery shopping, and fill my cart with food, I feel blessed. We are moving into our first home, but only because of a private deal with a relative.

    I'm lucky and happy.
    And sad that the wastefulness of the government has not yielded any kind of result... however, they need to stop trying to fix it and let the economy readjust.

    Answer by lovinangels at 2:42 PM on Aug. 30, 2010

  • It's just been yet ANOTHER Economic BUMMER of Recovery!! *sigh*



    Answer by LoriKeet at 4:38 PM on Aug. 30, 2010

  • Do you think they are over-promising, over-spending, and/or under-delivering? Why or Why not...

    Yes, and because they are.  This just makes me very sad.


    Answer by QuinnMae at 2:29 PM on Aug. 30, 2010

  • I've seen or read anything good lately.

    Answer by musicmom08 at 2:32 PM on Aug. 30, 2010

  • This is so not the news I need to hear today. Or any day for that matter.

    Answer by QuinnMae at 2:47 PM on Aug. 30, 2010

  • I'm with you lovin. I feel so incredibly blessed. I'm able to stay home with my 3 girls and my husband's job is stable and our bills are paid. Of course dh jokes no one wants to do his job but we're are fine with no worries so that's fine with me too.

    Things are not good overall though. As a matter of fact they seem to be getting worse.

    Answer by sopranomommy at 5:08 PM on Aug. 30, 2010