The Patriot Post® · Economy Grew by 4% in Second Quarter? More Like 2%

Last week, the Commerce Department announced the GDP grew 4% in the second quarter, but it looks like that might be the result of somebody cooking the books. Most of the economic growth last quarter came from companies replenishing stockpiles, not actually moving products. If that economic activity is taken out, then the nation’s economic growth is more like 2%, according to Jeffrey Rosenberg, an economist at Briefing.com. “It is obvious the economy is not growing at a 4% clip,” he said. “Unless things suddenly surge forward, 2014 economic growth will likely be the lowest yearly gain since 2011.” The second quarter GDP report is turning into every other GDP quarterly report during Obama’s term: an indictment on his management of the economy. More…