Obama got nearly all he wanted yet the economy goes backwards

[Remodeling Maidiac]

And their first response is to blame the GOP. Will these dems EVER assume any responsibility?

 

[Truthmatters]

go look at the military spending during that time

 

[Truthmatters]

Economy Shrank in Late 2012, But Economists See Growth in 2013 | Arkansas Business News | ArkansasBusiness.com


Economy Shrank in Late 2012, But Economists See Growth in 2013




by Associated Press
Posted 1/31/2013 07:32 am
Updated 3 hours ago




WASHINGTON — The U.S. economy shrank unexpectedly late last year, a reminder of the biggest threat it faces in 2013: sharp government spending cuts and prolonged political budget fights.


A plunge in defense spending helped push the economy into negative territory for the first time since mid-2009. The contraction in the October-December quarter came in at an annual rate of 0.1 percent, according to a government estimate released Wednesday.

The likelihood of another recession appears remote. The economy is forecast to grow around 2 percent this year as strength in areas like housing and auto sales could partly offset government cutbacks. Investors appear unfazed, too: The stock market has surged more than 6 percent this year and is nearing an all-time high.

But economists warn that further spending cuts would weaken a still-precarious recovery.

 

[Truthmatters]

see austerity doesnt work to improve an economy

 

[Remodeling Maidiac]

see austerity doesnt work to improve an economy

We haven't tried austerity. Austerity is when you cut govt programs and spending.

 

[Avorysuds]

Leave it to TM to support massive war.... Kill kill kill!!!

 

[Sallow]

And their first response is to blame the GOP. Will these dems EVER assume any responsibility?

There was a cut in government spending.

So the economy took a small hit.

This is what austerity looks like.

Why aren't you CHEERING IT?

 

[Sallow]

see austerity doesnt work to improve an economy

we haven't tried austerity. Austerity is when you cut govt programs and spending.

that's exactly what happened!!!!

 

[Avorysuds]

see austerity doesn't work to improve an economy

If the only thing that was cut enough to even make a slight dent in the deficit is military, and you're saying we should stop cutting military... does this mean you support more wars? I mean how else can you keep military spending as high as Obama/Bush had it. Hell, it's only down because Bush set an end date and Iraq kicked us out upon that date despite Obama really wanting to extend the Iraq war longer.

 

[konradv]

Leave it to TM to support massive war.... Kill kill kill!!!

How does pointing out a downward trend in military spending amount to supporting massive war?

 

[BlindBoo]

The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.

The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.

The surprise contraction could raise fears about the economy's ability to handle tax increases that took effect in January and looming spending cuts.

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.

And those volatile categories offset faster growth in consumer spending, business investment and housing -- the economy's core drivers of growth.

Another positive aspect of the report: For all of 2012, the economy expanded 2.2 percent, better than 2011's growth of 1.8 percent.

GDP Shows Surprise Drop for US in Fourth Quarter

How did the markets react to the news?

 

[Avorysuds]

And their first response is to blame the GOP. Will these dems EVER assume any responsibility?

There was a cut in government spending.

So the economy took a small hit.

This is what austerity looks like.

Why aren't you CHEERING IT?

Show us the cuts, get us the numbers, do it now or you lied. I wana see real cuts.

 

[Avorysuds]

The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.

The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.

The surprise contraction could raise fears about the economy's ability to handle tax increases that took effect in January and looming spending cuts.

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.

And those volatile categories offset faster growth in consumer spending, business investment and housing -- the economy's core drivers of growth.

Another positive aspect of the report: For all of 2012, the economy expanded 2.2 percent, better than 2011's growth of 1.8 percent.

GDP Shows Surprise Drop for US in Fourth Quarter

How did the markets react to the news?

Yes, it's funny how taxes go up and just as that happens the economy tightens.... as predicted... Yet not running as huge massive deficits gets the blame, despite of course that we are still running huge massive deficits.

 

[Avorysuds]

So when people (like myself) point out that FDR was saved by WW2 and the destruction of the rest of the world as to why the economy had a boom I want people like TM and Swallow to realize that they too now agree and fully support ww3... The policies of Obama and FDR were shit, devastated the economy, but war and destruction of other countries can spawn an economic boom when they need you to re-build their country.


Leave it to progressives to be 100% against war under a Republican then fully support war under a Democrat. Now military spending cuts = austerity and should be avoided at all costs!

 

[BlindBoo]

So when people (like myself) point out that FDR was saved by WW2 and the destruction of the rest of the world as to why the economy had a boom I want people like TM and Swallow to realize that they too now agree and fully support ww3... The policies of Obama and FDR were shit, devastated the economy, but war and destruction of other countries can spawn an economic boom when they need you to re-build their country.


Leave it to progressives to be 100% against war under a Republican then fully support war under a Democrat. Now military spending cuts = austerity and should be avoided at all costs!

I can't agree with the bolded line above. The Great Depression and the Great Recession, which really did devastate the economy, were not caused by FDR or BHO or their economic plans for recovery. We were the big winners in WWII.

 

[whitehall]

And their first response is to blame the GOP. Will these dems EVER assume any responsibility?

He wanted the economy to go backwards too.

 

[AceRothstein]

The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.

The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.

The surprise contraction could raise fears about the economy's ability to handle tax increases that took effect in January and looming spending cuts.

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.

And those volatile categories offset faster growth in consumer spending, business investment and housing -- the economy's core drivers of growth.

Another positive aspect of the report: For all of 2012, the economy expanded 2.2 percent, better than 2011's growth of 1.8 percent.

GDP Shows Surprise Drop for US in Fourth Quarter

How did the markets react to the news?

Yes, it's funny how taxes go up and just as that happens the economy tightens.... as predicted... Yet not running as huge massive deficits gets the blame, despite of course that we are still running huge massive deficits.

Except the economy tightened for the 4th Quarter of 2012 while taxes didn't go up until January 2013.

 

[zeke]

And their first response is to blame the GOP. Will these dems EVER assume any responsibility?

There was a cut in government spending.

So the economy took a small hit.

This is what austerity looks like.

Why aren't you CHEERING IT?

That's what I want to know? And you ain't seen nothing yet. When Repubs get their way and the real across the board cuts in spending kick in, the economy is gonna do exactly what the rethugs have been trying to get it to do for a while.......go back into a recession.

Then Rethugs will blame Obama. Because he did what they wanted done. Cut spending.

Rock and a hard place is where Obama is.

 

[jwoodie]

So when people (like myself) point out that FDR was saved by WW2 and the destruction of the rest of the world as to why the economy had a boom I want people like TM and Swallow to realize that they too now agree and fully support ww3... The policies of Obama and FDR were shit, devastated the economy, but war and destruction of other countries can spawn an economic boom when they need you to re-build their country.


Leave it to progressives to be 100% against war under a Republican then fully support war under a Democrat. Now military spending cuts = austerity and should be avoided at all costs!

I can't agree with the bolded line above. The Great Depression and the Great Recession, which really did devastate the economy, were not caused by FDR or BHO or their economic plans for recovery. We were the big winners in WWII.

Whether you like it or not, the economy got worse under FDR until the start of WW2. Is it that painful to acknowledge reality?

 

[blackhawk]

And their first response is to blame the GOP. Will these dems EVER assume any responsibility?

Short answer no the republicans are responsible for the Obama economy or Fox news anyone but Obama .