First quarter GDP revised downward to a 0.4 percent growth rate. Second quarter GDP grew at a lower-than-expected 1.3 percent.
Let’s go ahead and suck some more demand out of the economy by cutting government spending. But first, it’d be a good idea to roil the credit markets by flirting with government default.
Anything we’re leaving out of this recipe for disaster?
Our Susan Crabtree reports in from the late night Rules Committee meeting …
The House Rules Committee met at 11 p.m. Thursday and voted on a party-line 8 to 4 vote for allowing GOP leaders to revise and vote on the Budget Control Act without going back to the Rules Committee anytime through Aug. 2, but not before Democrats angrily accused Republicans of pulling the vote because some of their members had issues with $17 billion in the bill for Pell grants. Rep. David Dreier (R-CA) said only “there are a number of issues” GOP hold-out members have with the bill.
More running updates in our auto-updating TPMLivewire.
