This is a chart highlighting the GDP growth of the U.S. economy from the start of the recession in December of 2007 to the end of September 2012. The economy beat expectations and hit 2% GDP growth in the third quarter of 2012 fueled by consumer spending, autos and housing. The report isn’t AWESOME but it’s solid.
So – today … Mitt Romney gave a statement on the economic #’s – he said:
Today, we received the latest round of discouraging economic news: Last quarter, our economy grew at only two percent, less than half the 4.3% rate the White House projected after passing the stimulus bill. Slow economic growth means slow job growth and declining take-home pay. This is what four years of President Obama’s policies have produced.
So … it’s DISCOURAGING according to Mitt. But as Salon points out HERE … Mitt Romney never even hit 2% GDP growth in Massachusetts when he was governor:
By the way, how fast did the economy grow when Mitt Romney was governor of Massachusetts? According to data from the Commerce Department’s Bureau of Economic Analysis, average real GDP growth was 1.5 percent per year in Massachusetts from 2002 to 2006. For each of the years Romney was in office, the economy grew 1.49 percent, 1.86 percent, 1.14 percent and 1.43 percent, respectively.
And how did Romney assess the economic growth of the state under his leadership? “When we took office, the state economy was in a tailspin. Today, jobs are being created by the thousands and our economy is stronger,” he said in early 2006, his last year in office. So less than 2 percent was good then, but 2 percent is bad now.
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