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Economy Shrinks Due to Military Cuts

Dread Wrote: Jan 30, 2013 1:11 PM
Without austerity cuts at the State level, unemployment would be significantly better. So, yes, funneling more money to states to keep their teachers and other workers employed would have been a sound way to deal with the recession. Where conservatives should focus their attention is during boom years when everyone and their mother in government wants to spend more in response to the higher tax receipts. Conservatives should insist on holding the line on spending and reducing the debt then. Instead, they generally call for lower tax rates to pair with the Democrats calls for more spending.
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...