- Oct 14, 2007
- Reaction score
Austerity, Shutdown Knocked Almost 25 Percent Off Economic Growth
Thanks Teddy Cruz and your Bagger Buddies!Fourth-quarter GDP growth would have been 4.2 percent instead of 3.2 percent if it had not been for spending cuts and the government shutdown pulling huge sums of money out of the economy. Total economic output would have been 0.43 percentage points larger for the year if government investment in the economy had only been flat rather than shrinking due to austerity measures.