Obama Economy Shrinks 1% In First Quarter
Good job Obama. We should be booming yet you have ruined the economy.
Check it out:
The Bureau of Economic Analysis released its revised assessment of the first quarter of 2014’s Gross Domestic Product and revised it down to -1%. The initial assessment said the economy had at least grown, but only by .01%.
Real gross domestic product — the output of goods and services produced by labor and property located in the United States — decreased at an annual rate of 1.0 percent in the first quarter according to the “second” estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.6 percent.
If the economy shrinks again in the second quarter, America is officially in a recession.