"The economy is contracting"

[Katzndogz]

It's one of their successes. What did you think obama's programs were intended to do?

 

[Mr. Shaman]

Another stellar performance for Team O. After the worst recovery on record we are now teetering on the brink of recession.
GDP contracts on tepid inventories, government spending drop - Yahoo! News

Lemme guess......we need......

....another WAR.....

....right??

 

[DiamondDave]

Wait til the numbers are actually adjusted down for accuracy

 

[Meathead]

Color me shocked! It is going to be a miserable 4 years until we get an actual president. Of course, it's still Bush's fault.

US economy shrinks a surprise 0.1% in fourth quarter

The US economy unexpectedly shrank at an annualised rate of 0.1% in the fourth quarter of 2012, initial official estimates indicate.

If confirmed, it would be the first contraction logged by the US economy since the 2009 global recession.

BBC News - US economy shrinks a surprise 0.1% in fourth quarter

 

[Mad Scientist]

Another stellar performance for Team O. After the worst recovery on record we are now teetering on the brink of recession.
GDP contracts on tepid inventories, government spending drop - Yahoo! News

Lemme guess......we need...... another WAR.....Right?

Obama is looking to start a War in Africa:
Obama Sends Military Advisers To Central Africa To Help Fight Lord's Resistance Army

 

[Kevin_Kennedy]

Another stellar performance for Team O. After the worst recovery on record we are now teetering on the brink of recession.
GDP contracts on tepid inventories, government spending drop - Yahoo! News

I doubt we were ever out of the recession, but no need to quibble over semantics.

 

[deltex1]

True...like "AQ is on its heels..."

Last major attack on the US homeland..was when?

Benghazi you dumbass.

 

[PoliticalChic]

Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth.

This is basically the result of austerity.

We have a consumer based economy and the government is the biggest consumer.

I don't really see what the problem is for conservatives.

This is the RESULT they want.

Just what the reliable Democrat voter does best: defend the indefensible.

 

[Paulie]

That's not a recession by definition. It takes 2 consecutive negative quarters.

 

[Mr. H.]

What's really sad is that Obama places true job creators in his cross-hairs.
At least $40 billion in oil and gas taxes reside within his yet to be approved budget.

I know I keep harping on this, but it's serious. And seriously moronic.

 

[Mr. H.]

That's not a recession by definition. It takes 2 consecutive negative quarters.

And that's just what we'll have to rub together. Two quarters.

 

[Sallow]

Second thread on this..

government spending drop

Second one ignoring the root cause.

Austerity?

This is what you get.

 

[Mr. Shaman]

Color me shocked! It is going to be a miserable 4 years until we get an actual president. Of course, it's still Bush's fault.

US economy shrinks a surprise 0.1% in fourth quarter

The US economy unexpectedly shrank at an annualised rate of 0.1% in the fourth quarter of 2012, initial official estimates indicate.

If confirmed, it would be the first contraction logged by the US economy since the 2009 global recession.

BBC News - US economy shrinks a surprise 0.1% in fourth quarter

Try to catch-up......

U.S. Economy Shrinks on Plunge in Defense Spending

 

[AquaAthena]

says Obabble...

GDP Shows Surprise Drop for U.S. in Fourth Quarter

"Hey Joe," Santelli said, "when you act like Europe, you get growth rates like Europe, and our discussions with economists sounds like we're in Europe. They have the same discussions constantly."

"They’re always doing the right thing," he continued. "They’re always thinking they know better. And this is the kind of growth. We have become Europe. We are now Europe."

Read more: Rick Santelli Responds to Negative GDP Report: 'We Are Now Europe' | NewsBusters

 

[Paulie]

Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth.

This is basically the result of austerity.

We have a consumer based economy and the government is the biggest consumer.

I don't really see what the problem is for conservatives.

This is the RESULT they want.

Any conservative who knows economics at all knows that there will be initial contractions in economic growth with austerity while we wait for the private sector to fill the voids.

There's not a single solution available from either side that isn't going to include some pain.

 

[The Rabbi]

Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth.

This is basically the result of austerity.

We have a consumer based economy and the government is the biggest consumer.

I don't really see what the problem is for conservatives.

This is the RESULT they want.

Any conservative who knows economics at all knows that there will be initial contractions in economic growth with austerity while we wait for the private sector to fill the voids.

There's not a single solution available from either side that isn't going to include some pain.

Well, the flip side of Swallow's stupid statement is that more gov't spending should bring more economic growth. Unfortunately we've had 4 years of enormous deficit spending with minimal growth. So he is wrong.

 

[kwc57]

Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth.

This is basically the result of austerity.

We have a consumer based economy and the government is the biggest consumer.

I don't really see what the problem is for conservatives.

This is the RESULT they want.

Austerity? Really? Where? When? As I recall, the Republicans agreed to increased tax revenue and Obama and the Democrats have said "fuck you" on spending cuts. If we've implemented "austerity" measures, it never made it into the news cycle. Face it Sallow, Obama doesn't have a clue about how an economy works. We are no better off than we were the last four years and it keeps sliding down the hill. Obama didn't respect you in the morning then and he doesn't now.

 

[Wry Catcher]

But even with the bullish outlook on housing, economists are still forecasting only a modest rise in the overall economy this year. The consensus estimate is for economic growth of about 2.4% in 2013, only a modest improvement from the 2012 growth rate of about 2% they're forecasting when the final numbers are in.

By far the biggest concern is a standoff on Capitol Hill. About three-quarters of those surveyed picked Congressional gridlock -- which could result in a cutback in federal spending -- as the biggest problem facing the U.S. economy. Other choices, such as the European sovereign debt crisis, continued high unemployment and increased government regulation, were much less of a concern.

"Washington is now the primary impediment to stronger economic growth," said Russell Price, senior economist of Ameriprise Financial.

Link:

Housing to (finally) be driver of economic growth in '13 - Jan. 27, 2013

 

[The Rabbi]

Yeah, they forecast 2% growth. We've gotten contraction instead.

 

[NYcarbineer]

A contraction caused by less government spending, especially defense spending.

A worthwhile lesson for all of the conservatives around here who have insisted that government spending doesn't stimulate the economy,

and/or that smaller government will promote growth and jobs.

You want smaller government, an end to borrowing, and a balanced budget?

This is what you'll go through to get it. Fewer jobs and slower growth.