Hey look at that...we better do it some more say all the talking heads.
Well, you got your wish:
Why did GDP fall in Q4?
Blame lower government spending.
Real federal government consumption expenditures and gross investment
decreased 15.0 percent in the fourth quarter, in contrast to an
increase of 9.5 percent in the third. National defense decreased 22.2
percent, in contrast to an increase of 12.9 percent. Nondefense
increased 1.4 percent, compared with an increase of 3.0 percent. Real
state and local government consumption expenditures and gross investment
decreased 0.7 percent, in contrast to an increase of 0.3 percent.
Rising Hegemon
9 comments:
i'm a bit confused by these statistics. Isn't lowering our defense spending a worthy goal?
Lowering defence spending, yes, but that should be compensated for by an increase in non-defence spending.
But just watch -- the nitwits demanding austerity will use the decline in GDP to demand...even more austerity. Count on it.
they' won't give up austerity until you pry it from their dead, cold hands.
Agreed.
As the wingnut House continues the drive to destroy government, the disastrous impact of their actions are going to start really fucking the 1%'s bottom line. Maybe they'll see the error of their ways? . . . Nah, the Koch's and Romney's need some more pool boys.
but but but the ended roe + obamacare. right? RITE?!?
but but but the ended roe + obamacare. right? RITE?!?
But..but..the Teatards told me "government spending never created a job." So how could reduced government spending slow the economy? Unpossible.
Post a Comment