The Coming Double Dip Recession: Slate

08/02/2011 09:14 am ET | Updated Oct 02, 2011
  • Annie Lowrey Slate

What does the last-minute deal to raise the debt ceiling do to aid the flagging, faltering economy? Nothing.

The economy is in appalling shape. Last week, the Commerce Department's latest estimate of economic growth left many economists agog. In the second quarter, the economy grew at an annual rate of 1.3 percent. In the first, it grew at an annual rate of just 0.4 percent, a figure revised down sharply from previous estimates.

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