U.S. growth revised higher, economy on firmer footing

[okaawhatever]

Source: Reuters

(Reuters) - The U.S. economy grew at its fastest pace in almost two years in the third quarter, the government said on Friday as it revised its estimates of business and consumer spending higher.

SNIP

The report was supportive of the Federal Reserve's decision this week to reduce by $10 billion from January the $85 billion it is pumping into the economy each month through bond purchases.

SNIP

Gross domestic product grew at a 4.1 percent annual rate instead of the 3.6 percent pace reported earlier this month, the Commerce Department said in its third estimate.

That was the quickest pace since the fourth quarter of 2011 and an acceleration from the April-June quarter's 2.5 percent. Third-quarter growth was first estimated at a 2.8 percent rate

Read more: http://www.reuters.com/article/2013/12/20/us-economy-gdp-idUSBRE9BJ0P520131220

[Berlum]

1. "Damn it. Damn it all to Hell. Whine." - RepubliBaggers (R)

[OnlinePoker]

2. They'll claim it's because they're in charge of the house. n/t

[De Leonist]

3. Good to hear.

I wonder how much farther along our recovery would be if repubs didn't keep trying to push Austerity measures.

[jtuck004]

4. That's great if you have stocks, or own housing that is being sold.

For much of the rest of the county, working 2 or 3 part-time jobs, watching student loan debt climb to record levels, looking at a future with no assets for a time when they can no longer earn as much as they are making at the new McWalmart job that replaced the old one that used to pay their bills, not so much.