Economy in Worst Fall Since '82

Wall Street Journal by Conor Dougherty, Kelly Evans | Feb. 28, 2009 (News Analysis)
Output Sank 6.2% Last Quarter; Plunging Trade, Investment Signal Trouble Ahead

The U.S. economy deteriorated far more than previously thought in the fourth quarter, according to new revisions of government data, casting fresh doubt about the chances of a recovery this year.

With falloffs in consumer spending and exports, gross domestic product declined at a 6.2% annual rate in the fourth quarter of 2008, according to a Commerce Department report Friday. The agency's first estimate for GDP, reported in January, was for a 3.8% ... Full Story »

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Kenneth Sibbett
3.9
 by Kenneth Sibbett - Feb. 28, 2009

A report on the sorry situation the last eight years of greed and spending has done to this country. While the stimulus is not the end all of end all, it's a start. With the new budget, while nothing we've ever seen, we have to roll the dice and hope it's not snake-eyes.

With republicans saying this is the biggest spending bill ever, this is also the worst economy ever. Now who's fault is that?

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Kenneth's Rating

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