What happened to all of the doom and gloom economic threads?

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Gee...



Will we be able to reach that all important psychological mark of 13K in time to save Obama's reelection?
 
GDP growth rose from 1.3% to +2.0% last quarter, greater than analysts' expectations of 1.8%. Republicans will call this evidence of the economy not getting better. Consumer spending also rose 2% for the quarter.

The economy was also slowed by the severe drought this summer in the Midwest. That sharply cut agriculture stockpiles and reduced growth by nearly a half-point.

Obama also was responsible for the drought.

http://finance.yahoo.com/news/us-economic-growth-improves-2-123154242.html
 
Romney spin: "2% growth is “less than half the 4.3% rate the White House projected after passing the stimulus bill” - emailed statment
 
Analysis: Americans to face tougher 2013 on rising prices, taxes

Consumers will have to dig deeper into their pockets next year to pay for costlier healthcare, more expensive grocery bills and higher taxes, an extra drag on the country's already slow-moving economy.

The additional outlays look set to test the resilience of consumers, whose spending accounts for around two-thirds of the U.S. economy.

"We think it's going to be a difficult six to nine months," said Scott Hoyt, senior director of consumer economics for Moody's Analytics. "If anything, conditions are likely to get worse, particularly at the start of the year."

The strength of consumer spending has surprised some economists, given unemployment near 8 percent and anemic wage growth. Consumer spending has cushioned the blow to the United States from slower foreign demand for its goods.

U.S. households have shed about $880 billion in debt since the peak in the first quarter of 2008, according to Federal Reserve data. That has put many consumers on a path back to financial health.

But an expiration of payroll tax cuts in early January and a spike in food prices could wipe 0.8 percentage points off U.S. economic growth next year, according to some economists.

http://money.msn.com/business-news/article.aspx?feed=OBR&date=20121025&id=15715103
 
What the hell is this 500 trillion dollar tax cut that Biden was talking about this morning?

But you can't erase what you've already done,
they've voted to extend tax cuts for the very
wealthy, giving a $500 trillion dollar tax-cut to
120,000 families
 
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