The last estimate had GDP shrinking slightly from the prior quarter. The current estimate has it shrinking a lot: 2.9 percent on an annualized basis. If this keeps up for another quarter, the economy will officially be in recession.
Recessions are bad for incumbents and, one imagines, particularly bad for the party that claimed the other guys had driven the economy into the ditch and that they were just the folks to drive it out. If the economy heads back into a recession this year, things start looking pretty grim for the Democrats -- not just for this year, but for 2016.
Thursday, June 26, 2014
Economy Not Cooperating With Dems
Megan McArdle writes for Bloomberg View about how the current economic numbers look bad for Democrats: