In third quarter, economy grew at ‘sluggish’ annual rate of 2 percent

The economy is moving in the right direction but not at the right pace. The reason it’s not enough? We need more than 2.5% growth to start adding jobs back to the economy — otherwise, the unemployment number won’t go down, even with 2% growth:

The United States economy grew at an annual rate of 2 percent in the third quarter, the Commerce Department reported Friday, as it struggles to gain any momentum for a sustained recovery.

That estimated number matched the consensus forecasts for the gross domestic product, and is the barest tick up from the second quarter.

Though the recovery officially began in June 2009, growth since then has been tepid, at best. The economy expanded at a 1.7 percent pace in the second quarter, down sharply from a 3.7 percent rate in the first.

On October 27, 2010, Joe was one of five bloggers who interviewed President Obama. Joe is a DC-based political consultant with over twenty-five years of experience at both the state and federal level. Joe has managed political operations and legislative efforts for both candidates and issues-based organizations. For seven years, he was the Director of State Legislation at Handgun Control, Inc. He served as that organization's first Political Director during the 2000 cycle. Joe is a graduate of the University of Maine School of Law. In addition, he has a Masters in Public Administration from Lehigh University and received his B.A. from the University of New Hampshire. Joe also has a fun dog, Petey, a worthy successor to Boomer, who got Joe through eight years of Bush and Cheney. Joe likes to think he is a world class athlete having finished the 2005 Chicago Marathon in the time of 4:10. He has completed six other marathons as well -- and is still determined to break the four hour mark.

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