Word: declinenow
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Reports of the U.S. economy's imminent declinenow appear to be greatly exaggerated. After three straight monthly drops in GDP, new reports out of Washington show increases in retail sales and industrial production, with no rise in inflation. The downturn in indicators, saysTIME's Bill McWhirter, were only an aberration rather than a trend. "April was a just a blip. What happened was a confluence of bad news, topped by a $20 billion retroactive tax bill. About 90 percent of the disposable income in the country is in the hands of people making over $60,000 a year. These people...
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