GDP: Growth Slashed to 1.8% in 1st Quarter

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Just where Obama wants us to be.
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On Wednesday, the Commerce Department reported the economy grew a weak 1.8% in the 1st Quarter, a big downward revision from its previous estimates. A big part of the decline is attributable to a steep downward revision in personal consumption. Commerce reported that consumption grew just 2.6%, after initially reporting it had grown 3.4% in the Quarter.

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