Atlanta Fed GDPNow gauge takes a tumble to 0.7%

The drumbeat of disappointment is continuing for the U.S. economy, with the latest numbers showing the third quarter looking a lot like the first quarter. --While economists continue to search for signs that domestic growth is finally loosening the shackles of the financial crisis, the data suggest otherwise. An initial reading Monday for the third-quarter manufacturing outlook was bleak, and the spending outlook both for consumers and businesses does not suggest rapid improvement anytime soon.

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CBO: O-Care slowing growth

The new healthcare law will slow economic growth over the next decade, costing the nation about 2.3 million jobs and contributing to a $1 trillion increase in projected deficits, the Congressional Budget Office said in a report released Tuesday.  The non-partisan group’s report found that the healthcare law’s negative effects on the economy will be “substantially larger” than what it had previously anticipated.

Read more at The Hill
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