gdp

The New York Times reports that the U.S. economy grew last quarter for the first time in the past year:
Gross domestic product expanded at an annual rate of 3.5 percent in the three months ending in September, a significant spike from a relatively shrunken base. The economy had contracted at annual rates of 0.7 percent [...]

From The Los Angeles Times:
The Commerce Department said today that the nation’s gross domestic product, or total goods and services produced, contracted in the second quarter at an annual pace of 1%. This marked a dramatic improvement from a decline of 6.4% and 5.4% recorded in the prior two quarters, and provided the latest evidence [...]

The U.S. economy may never return to the days of rapid expansion, Bloomberg reports, and an unemployment rate greater than eight percent and a long period of slower growth may become the “new normal,”
The U.S. financial crisis and recession have produced lasting shifts in consumer spending and savings reminiscent of the 1950s that may [...]

Well, I guess we knew this was coming…
The 2009 federal budget deficit is projected to be $1.2 trillion, the Congressional Budget Office announced today — NOT INCLUDING THE ECONOMIC STIMULUS PACKAGE EXPECTED TO ARRIVE EARLY NEXT MONTH.
From USA Today:
In the first official reckoning of the damage caused by the severe recession, the report paints a [...]

In the next few decades, promised federal spending threatens to drown the U.S. economy. It could make the financial bailout seem cheap.