Curb Your Enthusiasm: One Percent GDP Growth Is Nothing to Get Excited Over

The Washington Post went a bit overboard with its lead article reporting on the second quarter GDP data. The article begins:

"After suffering the sharpest contraction since the recession ended, the U.S. economy rebounded this spring, providing fresh evidence that the recovery is finally turning a corner.

"Government data released Wednesday shows the economy expanded at an annual rate of 4 percent during the second quarter. Consumers pulled out their wallets, businesses restocked their in...