Obama: Report to show economic contraction

Courtesy MSNBC.com: Business  Thu, 07/30/2009 - 15:30

 President Obama says the nation's gross domestic product report shows the economy contracted during the second quarter of the year but that the United States has "stepped away from the precipice." (MSNBC)President Obama says he expects Friday's report to show the economy contracted during the second quarter of the year but says the United States has "stepped away from the precipice."



 

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