Revised Numbers 0
As Atrios pointed out recently, people don’t pay attention to the revisions. Maybe because it’s usually worse than they thought:
The world’s largest economy contracted 1.9 percent from the fourth quarter of 2007 to the last three months of 2008, compared with the 0.8 percent drop previously on the books, the Commerce Department said yesterday in Washington. Gross domestic product has shrunk 3.9 percent in the past year, the report said, indicating the worst slump since the Great Depression.
Follow the link for more revised numbers.
And, remember, this was the logical outcome of Republican economic theory. People who weren’t blinded by the DOW saw it coming.
