Wall street wisdom holds that political gridlock is good for the economy. When Democrats and Republicans are busy quarrelling, the theory goes, they have less time to tie up business in red tape or to bust the budget.That wisdom is about to be tested. On October 29th the government reported that gdp grew no more than 2% at an annual rate in the third quarter, barely enough to keep joblessness from rising, much less to create work for the 8m who lost their jobs during the recession. Growth in the current quarter looks no healthier.
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