Wednesday, July 31, 2013

It's Official: In Age of Obama, We Must Be Satisfied with Scraps

US expands at brisk pace in 2nd quarter, defying gloom 
U.S. economic growth unexpectedly accelerated in the second quarter, laying a firmer foundation for the rest of the year that could bring the Federal Reserve a step closer to cutting back its monetary stimulus. Gross domestic product grew at a 1.7 percent annual rate, the Commerce Department said on Wednesday, stepping up from the first-quarter's downwardly revised 1.1 percent expansion pace.
 Are these media dickheads serious? Brisk pace? 1.7% is anemic, lame-ass, sclerotic, Euro-weenie style growth. Have our expectations been so beaten down in the age of Obama that we are satisfied with such scraps?

UPDATE:  Megan McArdle gets it too, obviously.   As do a host of others, people who actually specialize in covering the economy have not been so glowing.

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