The slowdown now comes because the Eurozone currency turmoil is reducing American exports.
What “subtracted ... 2.6 percent from growth” was reduced government spending, along with a slowdown in filling inventories.
With the slowdown in the economy, tax receipts are now projected to fall sharply.
Recent data suggests the second-largest economy in the world may be shrugging off a slowdown.
But the Greek bailout and the China slowdown affect business behavior far more than they influence consumer behavior.
The health-care job market is one of the few on the rise, with no slowdown in sight as Baby Boomers begin to retire en masse.
Last summer, the finance minister put new mortgage rules into place in an attempt to engineer a slowdown.
Rather, he described the end of the year slowdown as “a temporary pause.”
The hidden story embedded in the Chinese economic “slowdown” is that investment-led growth is plunging.
"We faced a huge budget gap, but I recognize that raising taxes could lead to a slowdown in our economy," he said in 2007.