My ass. Mark this down. This is pure bovine excrement. Invented. Made up. As in you are being lied to by your government. This estimate is according to the “advance” estimate released by the
Bureau of Economic Analysis.
You won’t hear this anywhere else. But I predict when the “estimate” is replaced by reality, any increase will be much much less than the “advance estimate.” Look around. Does it appear that our economy is increasing “5.7%”? In a few months, when Obama doesn’t need a boost in his popularity as much, there will be a little publicized, oooopsy, the GDP didn’t rise as much as we estimated it would, but hey, it was just an “estimate.” Mark this down.
UPDATE: Fortunately I was wrong. You can read about this elsewhere. Somebody else remembered how they cooked the estimate for the 3rd quarter of last year. The Obama Administration’s estimate was a rise of 3.5%, but the actual rise was 2.2%.