Don’t Call It a Recession: Damn Lies and Stats

Attentive and virtuous readers may recall when, earlier this month, we mentioned the apparent paradox of economic growth paired with rising unemployment and other indices of misery. If that made you poor wittle brain hurt, consider the problem solved! Turns out that 3.3 quarterly growth rate was just an estimate from the feds, and the Commerce Department has adjusted it down to 2.8 percent. That’s more like it.