Posted on 08/30/2013 10:37:12 AM PDT by Oldeconomybuyer
U.S. consumer spending barely rose and inflation was tame in July, offering a cautionary note on the economy as the Federal Reserve weighs cutting back its massive bond-buying program.
"There has been a lot of optimism about the economy accelerating in the second half of the year as the fiscal drag waned. The latest data suggests that's not happening," said Michelle Girard, chief economist at RBS in Stamford, Connecticut.
Economists said it was now unlikely that consumer spending this quarter would even match the second quarter's 1.8 percent growth pace.
(Excerpt) Read more at reuters.com ...
As compared to the strong and vibrant Obama economy of the last 4 1/2 years?
Now we're really in for it.
I don’t understand. With Obama’s focus on jobs, with ObamaCare, with the massive and ongoing Stimulus and Quantitative Easing, and with all the additional regulations under the current regime, how could the economy grow so slowly?
Hopey changey.
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