The broadest measure of the economy, known as the gross domestic product, grew at an annual rate of less than 1 percent in the first half of 2011, the Commerce Department reported on Friday. The figures for the first quarter and the second quarter, 0.4 percent and 1.3 percent respectively, were well below what economists were expecting, and signified a sharp slowdown from the early months of the recovery.
The government also revised data going all the way back to 2003 that showed the recession was deeper, and the recovery weaker, than initially believed.
Murkins tighten their belt when times are tough, the government should too. It’s just common sense.