What a relief. The deep economic contraction earlier this year was temporary after all.
"Man, tell you what, Harvey...dat Obama dude - ain't half bad for a darkie."
New data released Wednesday show the U.S. economy bounced back in the spring, growing at a 4% annual pace in the second quarter. That was even better than the forecast of 3% growth, according to a consensus of economists surveyed by CNNMoney.
Consumer spending, which alone accounts for about two thirds of U.S. economic activity, strengthened, as did exports to foreign countries and business investments.
American consumers spent more money on long-lasting goods like autos, appliances and furniture, while businesses invested more in technology and industrial equipment. Both can be seen as good signs that households and companies are more optimistic and investing in the future.
The Bureau of Economic Analysis also revised historical data, and the new numbers show the bad winter wasn't quite as bleak as last reported. The economy contracted at a 2.1% rate in the first three months of the year, as opposed to the decline of 2.9% reported last month. Meanwhile, the second half of 2013 was also stronger than originally reported.
"Businesses are not just spending on new equipment and structures, but manpower, too," said Sal Guatieri, senior economist at BMO Capital Markets.
"B-b-b-but Baldy and Tman said Obama was gonna lead us to e-e-e-economic RUIN?!?!?!?!"
"EEYeah, dass' right! World-beatin' economy, y'all!"
And they say Romney would win a do-over! BWAAAAAHAHAHAHAHAHAAA!
At least you're consistent. 
