Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (AFP) – The U.S. economy grew more slowly than previously thought in the 2013 fourth quarter, largely due to weaker consumer spending, official data released Friday showed.

The Commerce Department said gross domestic product growth in the final quarter was at an annual rate of 2.4 percent, revising its initial estimate of a 3.2 percent GDP expansion.

Analysts had expected a downward revision, but forecast a less sharp drop to 2.6 percent.

The report showed the world’s largest economy had significantly lost momentum even before a series of weaker economic data in January and February, which some say are due to severe winter weather in much of the country.

The economy grew at a robust rate of 4.1 percent in the third quarter.

Most of the fourth-quarter growth revision came from weaker than first estimated growth in consumer spending, which drives the bulk of U.S. economic activity. Spending was revised down to 2.6 percent from the prior estimate of 3.3 percent.

Photo: John Moore via AFP

President Trump boards Air Force One for his return flight home from Florida on July 31, 2020

Official White House Photo by Joyce N. Boghosian

Reprinted with permission from Alternet

Florida senior residents have been reliable Republican voters for decades, but it looks like their political impact could shift in the upcoming 2020 election.

As Election Day approaches, Florida is becoming a major focal point. President Donald Trump is facing more of an uphill battle with maintaining the support of senior voters due to his handling of critical issues over the last several months. Several seniors, including some who voted for Trump in 2016, have explained why he will not receive their support in the November election.

Keep reading... Show less