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Obama Shrinks US Economy 0.1 Percent in 4th Quarter
Posted By Daniel Greenfield On January 30, 2013 @ 11:52 am In The Point | 11 Comments
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.
The recession is over. Except it’s just beginning. Forward!
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