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Obamanomics Still Destroying Economy: 2.2 percent growth, corporate profits fall


Gross domestic product expanded at a 2.2 percent annual rate, unrevised from last month's forecast, the Commerce Department said on Friday in its third GDP estimate. The economy grew at a 5 percent rate in the third quarter. The government also reported that after-tax corporate profits fell at a 1.6 percent rate in the fourth quarter, as a strong dollar dented the earnings of multinational corporations.