While President Obama took a victory lap in Detroit today celebrating the comeback of General Motors and Chrysler on the taxpayer dollar, a new government report showed that US economic growth slowed sharply in the spring; and in Florida at a foreclosure sale yesterday in Ft. Myers it wasn’t any better, three houses on one street sold for more than 60% less than previous highs.

Government figures paint an overall picture of a deeper recession than previous data suggest.

The nation’s economy grew at a modest 2.4% annual rate in the April-to-June period, the Commerce department said in its first estimate of gross domestic product for the second quarter.

According to the REDC Group who auctions off houses in foreclosures, three houses on one street in Ft. Myers sold for 66% less than their previous high value.

In Bonita Springs a 3,393 sq ft, 11-room mansion sold for $383,250 – 66% less less than its previous high value of $1.1 million.

In all 99 properties were auctioned last night for  $4.2 million. The REDC Group will auction off 1,500 Florida Foreclosures in a 6-day 8-city auction that will continue in Orlando, Miami, Ft. Lauderdale Tampa and Jacksonville.

Although such auctions are a big boost to the local economy, it demonstrates the big hit Americans have taken from all directions when they loose their most valuable possession.

The Los Angeles Times said today that economists at the left-leaning Economic Policy Institute argued that the latest GDP report was more reason for the federal government to provide additional stimulus to keep the recovery on track and ease the pain for millions of unemployed workers.

“Contrary to the often-made claim that the near-term economic future is ‘uncertain,’ today’s report provides near certainty that very high unemployment rates will — absent agressive action by policymakers — plague the economy for years to come,” said Josh Bivens, an EPI economist.

It is clear the left want to spend us into further debt than the $13 Billion we already owe.  It is a failed flawed Obama policy bent on destroying a nation.