According to today’s report on MarketWatch.com:
The U.S. economy contracted in the fourth quarter of 2007, the first quarter of negative growth since the 2001 recession, the Commerce Department said Thursday in its annual revision to gross domestic product.
Real GDP fell 0.2% in the quarter; a 0.6% increase had previously been reported. Many economists who think the economy is in recession believe it began in the fourth quarter.
Wow, does this mean things are as rosy as we are being led to believe? How can that be? There’s no way the current administration would lie to us, would they?
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