This means the oil companies and defense contractors' profits grew (both record profits) just a tad more than Americans lost on all the foreclosures and jobs lost.
This means Bush can claim the economy is improving. However it's only improving for the upper class.
Economy limps ahead at a 0.6 percent pace in first quarter, better pace than expected
WASHINGTON (AP) -- The bruised economy limped through the first quarter of this year at only 0.6 percent as housing and credit problems forced people and businesses alike to hunker down.
The country's economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider the classic definition of a recession, which is a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if modestly.
