Republican Recession Watch: Economic Slowdown

9:33 am EST February 28th, 2008 | News | 1 Comment

When it comes to Republicans and the conomy, we see time and time again: No, they can’t.

The economy skidded to a near halt in the final quarter of last year, clobbered by dual slumps in housing and credit that caused people and businesses to spend and invest more sparingly.

The Commerce Department reported Thursday that the gross domestic product increased at a scant 0.6 percent pace in the October-to-December quarter. The reading — unchanged from an initial estimate a month ago — underscored just how much momentum the economy has lost. In the prior quarter, the economy clocked in at a brisk 4.9 percent pace.

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One Response to “Republican Recession Watch: Economic Slowdown”

  1. durablend says:
    February 28, 2008 at 12:47 pm

    Between deriding the Democrats for again giving the terrorists a victory (by refusing to sign his big brother…aka FISA bill), Bush said the economy is just fine…no recession or stagflation looming and even if there was, the king’s rebate checks will save the day!