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Economy Shrinks Due to Military Cuts

BHO1-Deal w/it TBAGRZ! Wrote: Jan 30, 2013 7:12 PM
I guess gov spending IS good for the economy... Massive public works projects anyone?
psydoc Wrote: Jan 30, 2013 7:17 PM
Listen up.

Layoffs by defense contractors contributed, other contributing factors to the decline are worries about the fiscal problems (huge debt and deficit problems continue), unabated grubrmnt spending, reduced exports, the rise in consumer prices, state deficits, pending budget cuts and tax increases.

Most of the factors continue pressure on the private sector to take their own austerity measures.

Wait, it is all Bush's fault. He did it all. [/sarcasm]
A release from the Bureau of Economic Analysis today surprised analysts when the top-line number showed that the economy shrunk in the last quarter of 2013 by a slight 0.1%. While small, it was unexpected. This marks the first time the American economy has shrunk since the end of the 2008 recession.

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 0.1 percent in the fourth quarter of 2012 (that is, from the third quarter to the...