No sign of a recovery; no green shoots, only nasty weeds.The big surprise was investment; which fell dramatically in the first quarter. This doesn't auger well for a quick recovery.
As the chart suggests, the US economy has been struggling since the middle of 2007. The high high point was the second quarter of 2008, when the Bush stimulus package injected some cash into the pockets of US consumers.
By the third quarter, the stimulus was played out, offering a warning about the limitations of fiscal policy and Keynesism in general.
The Obama fiscal package, which was about 4 times larger, has done nothing to restore growth.
Politicians never seem to learn.
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