3Q numbers revised (bankrupt, debt, money, cost)

[slackjaw]

Q3 GDP report: Economic growth rate 2.5% in third quarter - Nov. 23, 2010

Gross domestic product, the broadest measure of the economy, grew at an annual rate of 2.5% in the three months ending in September, the Commerce Department reported Tuesday. That's a significant improvement over the 2% growth rate first reported for the period.
(...)
Consumer spending increased at a 2.8% pace, the best reading for that measure since the end of 2006, up from 2.6% initially reported. Exports were also revised upward to 6.3%, from 5%. Those two points mark a bright spot in the report, as consumer spending and U.S. exports are engines of growth needed to drive the recovery forward.

Still not enough to translate into rapid job growth but steps in the right direction.

[mysticaltyger]

Originally Posted by slackjaw

Q3 GDP report: Economic growth rate 2.5% in third quarter - Nov. 23, 2010



Still not enough to translate into rapid job growth but steps in the right direction.

I'm glad...but it doesn't change my fundamental view that the US is facing a huge wall of debt with the cost of: the wars, Medicare/Medicaid, & Social Security.

Even if the wars go away, we could easily bankrupt ourselves with ever increasing medical costs.