GDP Shows Surprise Drop for US in Fourth Quarter

Discussion in 'News / Current Events' started by carpro, Jan 30, 2013.

  1. carpro

    carpro
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    http://www.cnbc.com/id/100419252

    GDP Shows Surprise Drop for US in Fourth Quarter

    The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.

    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.
     
  2. mont974x4

    mont974x4
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    Is anyone honestly surprised?
     
  3. carpro

    carpro
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    Predictably, Obama has blamed it on congressional republicans.

    Nothing is ever his fault.:laugh:
     
  4. mont974x4

    mont974x4
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    No one can accuse the Democrats of being the party of personal responsibility. Confronted with an economy that contracted in the fourth quarter, Speaker Nancy Pelosi blamed Congressional Republicans for obstructing the president’s agenda and creating uncertainty.

    In the wake of the financial collapse, the Democrats took full control of both the Congress and the Presidency in 2009 and were presented with an historic opportunity to put their ideas into practice. Unfortunately, the newly elected President Obama and Speaker Pelosi treated the situation as a political opportunity to build a Democratic majority rather than an obligation to fix what’s broken in the economy.

    Read more: http://www.foxnews.com/opinion/2013/01/30/bankruptcy-obama-pelosi-progressive-agenda/#ixzz2JWHn21wJ
     

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