And don't forget, ALL interest rates in the U.S. are based on Treasury rates. If the government pays more to borrow, sooner or later (sooner) businesses and individuals will also pay more to borrow.
..."the Commerce Department on Thursday said gross domestic product rose at a 1.8% annual rate between January and March, slower than the 3.1% pace in the prior three months."
News Release: Gross Domestic Product[/QUOTE]That was a prelimary report that was revised down to .4%, bea.gov. Doesn't do much for your credibility.
I think you should take a look at the study of your report: "Revised Estimates: 2003 through First Quarter 2011"
The other study of MarketWatch is from Jan to March......
☮★★☮ Just a democratic-socialist in the heartland of America.CHECK OUT MY TUMBLR(BLOG)HERE "Life is beautiful. Let the future generations cleanse it of all evil, oppression, and violence, and enjoy it to the full."
DemSocialist: I'm not trying to take sides, but you are just not right. Q1 gdp growth was revised down to 0.4%.
"A witty saying proves nothing." Voltaire
Yep. And apparently this wonderful debt limit bill will have the effect of reducing GDP by .3%, eliminating over 300,000 jobs in the short term, and over a million jobs in the mid term. Thanks, teabaggers!!