The Weekly Feed

As summer draws to an end and President Obama wraps up his Martha's Vineyard vacation, a new government report show more bad economic news. The American economy grew "much slower than previously thought" last quarter. From Reuters:

"Gross domestic product growth rose at annual rate of 1.0 percent the Commerce Department said, a downward revision of its prior estimate of 1.3 percent. It also said after-tax corporate profits rose at the fastest pace in a year."