The Economy: Slow Growth Here to Stay
Once again the U.S. economy continues to sputter along in low-growth fashion. This summer, economists and Wall Street analysts alike have begun lowering their estimates for total GDP growth in 2012. We recently learned that for the first half of the year the U.S. economy grew at a rate of 1.7%, much slower than the Fed’s official forecast in January. For the full year, we are not likely to see growth above 2%.
The story of The Little Engine That Could comes to mind when thinking about the U.S. economy, though not for the right reasons.
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