For Immediate Release: Friday, August 27, 2010
Contact: Phoebe Silag or Karen Conner, news@epi.org 202-775-8810

“Today’s revisions to estimates of gross domestic product (GDP) confirm that the deceleration of economic growth in the second quarter of 2010 was even more pronounced than originally thought. In fact, without the stream of spending provided by the Recovery Act the economy would have contracted outright. This is most troubling, as Recovery Act money is almost spent and will provide no boost to growth going forward. The case for more action from policymakers to support the recovery and return the job-market to health is now overwhelming,” said EPI economist Josh Bivens.