'Hope and change' has turned into lousy GDP growth

Here we go again.  Another round of disappointing economic news in year 7 of "hope and change" and summer 6 of the stimulus.  According to The Wall Street Journal, there is not a lot to cheer "yes we can" about: The U.S. economy expanded at a 2.3% seasonally adjusted annual pace in the second quarter. If the number sounds familiar, there’s a good reason. The economy has been growing at about that pace for six years. From the end of the recession in mid-2009 through the end of last year the economy grew at a 2.2% annual pace. It gets more depressing: The economic expansion—already the worst on record since World War II—is weaker than previously thought, according to revised data. From 2012 through 2014, the economy grew at a rate of 2.0% annually. That’s a 0.3 percentage-point downgrade from prior estimates. We will probably hear from the Obama administration that this is because the GOP has been...(Read Full Post)