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Bidenomics, Baby! Economic Growth Slowed Significantly in First Quarter

AP Photo/Jacquelyn Martin

It's fine. Totally fine. The economy is great, thanks for asking.

The U.S. economy has 'slowed significantly' in the first quarter of 2024. Which we didn't need an economist to tell us.

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Yikes. 1.6% growth.

Even the White House Council of Economic Advisers admits that's below expectations by almost 1%.

Here's CNN, coming in with the spin to protect Biden:

'Cooled sharply' and 'remained solid' are contradictions.

CNN reports:

The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards. Economic growth has slowed steadily over the past 12 months, which bodes well for lower interest rates, but the Federal Reserve has made it clear it’s in no rush to cut rates.

Gross domestic product, which measures all the services and goods produced in the economy, measured an annualized rate of 1.6% in the first quarter, the Commerce Department reported Thursday. It was the weakest pace of growth since the second quarter of 2022 when the economy contracted.

That’s a steep slowdown from the fourth quarter’s 3.4% rate and also below the 2.2% rate economists projected, according to a FactSet poll. The figures are adjusted for seasonal swings and inflation.

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Build back better. Or something.

Yep.

Yes it is.

Keep spinning like this, CNN, and you'll get dizzy.

Expect KJP to get up behind the podium today at gaslight us about this very thing.

Thanks, indeed.

Like pretzels.

Yum. Pretzels.

'Paltry' is putting it mildly.

To be a fly on the wall of the White House this morning.

And while the GDP is down, price indexes are up:

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Oof.

'Worst possible outcome.'

Yikes.

Yes. And we all see it.

Devastating indeed.

And we don't see it getting better before November.

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