Economy Doing Ever So Slightly Better Than We Thought

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The economy is doing ever so slightly better than we thought:

Gross domestic product, the broadest measure of goods and services produced across the economy, grew at a seasonally adjusted annual rate of 4.2% in the second quarter, the Commerce Department said Thursday. The agency had previously estimated the second quarter’s growth rate at 4%, relying on incomplete data for international trade, inventories and other sectors.

Nobody should mistake this for anything meaningful. Obviously it’s better for GDP to be revised up than down, but this particular change is so small that it’s not really noticeable. GDP growth for the first half of the year now clocks in at about 2.1 percent instead of 1.9 percent, but that’s pretty anemic either way.

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TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

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That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

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