If the economy were as vibrant as President Barack Obama has told us it is, a belt tightening in a single sector of government surely wouldn't be enough to bring about "negative growth." But one did. Unexpectedly. No worries, though. Pundits on the left tell us that this contraction was good news -- possibly...
The massive economic growth that would result from OBummer letting U.S. companies responsibly extract and use the vast resources right under our feet utilizing new extraction technologies might create a couple jobs here and there. Say, 1.8 to 2.1 million depending on who's estimate you like, not to mention tens of billions of dollars in "revenue" ("Taxes", for everybody not employed by the government).
So, U.S. consumer confidence unexpectedly plunged in January to its lowest level in more than a year. The U.S. economy unexpectedly posted a contraction in the fourth quarter of 2012 -- for the first time since the recession -- "defying" expectations that economic growth is in our future.
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