By Peter Morici
The White House is pumping sunshine–the economy is in tough shape
Fourth quarter GDP numbers show the economy is not growing fast enough to create jobs and bring down unemployment.
Of the 2.4 percent growth reported, 1.1 percent was an increase in inventories—essentially businesses rebuilding and adjusting inventories from recession lows and to accommodate more price-conscious consumers.
This indicates actual demand in the economy is growing a scant 1.3 percent a year. Businesses Read More »