Obama Shrinks US Economy 0.1 Percent in 4th Quarter

The recession is over. Except like the guy in the slasher mask, it’s really not over at all. In November, the government class voted to return the economy slasher to power and now the economy is getting slashed. Again.

The country’s fiscal health got a gut-check Wednesday after a report by the Commerce Department showed the U.S. economy unexpectedly shrank in the fourth quarter. Despite stronger consumer spending, it’s the biggest dip the country has seen in three years.

The U.S. economy unexpectedly shrank from October through December for the first time since 2009, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles. The drop occurred despite stronger consumer spending and business investment.

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

Apparently trashing the military and re-electing a man who makes Jimmy Carter look like an economic genius is bad for the economy.

Who knew?

The recession is over. Except it’s just beginning. Forward!

  • JacksonPearson

    Don't believe that nonsense. The recession is NOT over. Millions are off of the unemployment roles, not being counted any more, living in obscurity in Obamavilles, or out of their cars.

  • tagalog

    As the stock market indicates that the private commercial sector is straining to expand, President Obama does all he can to hose down the markets' desire to grow. Gotta put the kibosh on all that greed.

    In some states, the number of bankruptcies filed without attorneys has grown over the past year, indicating that people have run out of money to hire a lawyer to get their bankruptcies done efficiently and now have to do them by themselves without professional help.

    If we compare, as we have done in the past, the current recession with the Great Depression, we are now going on five years in. So today is like 1934. The common people ran out money this year, and those who had some savings left are now tapping in to them, with even the wealthy feeling the pinch. There's a long, long way to go. We haven't even hit our 1936 yet, with the palpable whiff of hope dashed by New Deal schemes and higher taxes.

  • Ar'nun

    Forward! LOL! Funny how now that the election is over they release believable numbers. This must be some of the flexibility Obama told the Russians about!!!

  • Questionman

    Demand creates jobs. Enriching the wealthiest creates no jobs and taxing the poorest destroys jobs – and that's the GOP plan. I am not kidding! Their plan is to further enrich the wealthiest with tax cuts and have the bottom 47% start paying federal income taxes and – on the state level – more sales taxes. This is a recipe for a Depression and an Aristocracy. A GOP twofer!

    What do you think Obama did to shrink the economy? The only thing I blame him for is being a weak leader! Obama has supported larger government policies, and succeeded (somewhat) in enacting them.

    Unfortunately, the “Obama ruined the economy” critiques all run into a terminal flaw which is insecapable: The economy today is far better than it was on inauguration day 2009. Far better.

    Funny it's the racist right ready to blame the black man in office. Whatever it takes to make America feel stupid for NOT buying their hate-mongering, fear-mongering BS and vote Mittens in.

    • objectivefactsmatter

      "Enriching the wealthiest creates no jobs"

      What kind of statement is that? You know nothing about wealth or economics. Rich people create wealth. They most often employ people while doing it or they don't get very rich.

      "taxing the poorest destroys jobs – and that's the GOP plan."

      Taxed how? A Reduction in a subsidy is a tax? Reducing subsidies creates incentives to work.

    • objectivefactsmatter

      "Their plan is to further enrich the wealthiest with tax cuts and have the bottom 47% start paying federal income taxes…"

      Oh my, now the other half, some of the other half of the citizens might contribute to infrastructure? Or according to you, are taxes on those "poor people" sent directly to "rich people" who sit around doing nothing? Who made them rich? You must be talking about Democratic Party members if that's your idea of wealthy elites.

    • objectivefactsmatter

      "Unfortunately, the “Obama ruined the economy” critiques all run into a terminal flaw which is insecapable: The economy today is far better than it was on inauguration day 2009. Far better. "

      Of course. Because you deemed it to be so. We're that much closer to full-blown shari-unism and that's got to be a good thing for inhabitants of the moon. Why it's inescapable.

    • objectivefactsmatter

      "Funny it's the racist right ready to blame the black man in office."

      Every time there is a "black president" the conservatives complain about communism. What a bunch of racists.

    • patron

      It's epic watching the big government advocates squirm as the fumes from their bureaucratic phoney number games fizzle. Poor liberals. What are you going to do when the GSA cash cow dies?

      Since 2004 Barak Obama served in a leading role in the US Federal Government. During that time, his party blocked housing reforms 17 times while ensuring the American public Fannie Mae and Freddie Mac were shining examples of government programs. Before that, Barak Obama sued banks in Chicago on behalf of ACORN to lower lending standards. Chris Dodd, Countrywides acting DC loan pimp, and Barney Frank, who was sodomized by Fannie Mae board members, passed a bill which Obama signed into law which pushed more money into the too big to fail banks.

      Big government advocates can never see the harm in Obama's $20 million Hawaiian vacation, his $70 million inauguration, his around the clock staff for his personal movie theater, just like they cannot see the danger in subsidizing drug addicts with welfare payments or medical fraud through healthcare spending. It's not my money, it's the taxpayer's. What the hell.

      We easily could have had responsible federal government like those run by Scott Walker, Mitch Daniels or John Kasich. Instead we got the Newt/Ron Paul show, and Obama using his Chicago thugs to clean out the ghetto so the first black president, who grafted his way to over a $100 million net worth on the backs of the taxpayer,

  • BLJ

    The King of Blame is pointing his bony finger at the GOP. Somebody needs to slap this clown and hard.

  • PES

    Obama is destroying America. Period. Any person with a brain who knows economics didn't re-elect this man back into office. We are doomed by the communist idiot.