"It’s in a very tight spot.
Reassuring endnote: we’ve been around long enough to remember charting similarly frightening trends in the late 1970s and 1980s. It turned out these trends can be reversed surprisingly quickly by economic growth.
But where is economic growth coming from now?"
one answer is being given here, forecasts for U.S. economic growth cut again
"Battered by poor weather and surging gas prices, the U.S. economy likely grew slower in the first three months of 2011 compared to the end of 2010, according to revised estimates of forecasters.
Over the past few days more than a dozen forecasters have chopped estimates for the first quarter. As a result, the MarketWatch survey of economists now puts the projected rate of growth at 2.4%, down from 2.8% just a week earlier and from 3.5% when the quarter began"
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