U.S. Economy Unexpectedly Contracts in Fourth Quarter

Quote from 124nic8 : Due primarily to the failure of capitalism to provide jobs and the poverty that resulted from that failure.

Wrong. Due to gov't intervention and policies that prevent true capitalism from working.

Quote from Krazen1211 : We have cuts to federal spending already in the defense department. What we don't have cuts in is the Democrats $300 billion a year Medicaid program that goes straight to the deficit.

Its a yes or no answer. It appears as though your answer is "yes". Correct?

Quote from politicaljunkie : To the republicans---do you want cuts to federal spending?

Not a republican...but yes.

Quote from Xygonn : Mostly because of reductions in pentagon spending. They blew their wad in September in fear of sequestration.

You would think the tea baggers,etc would like to research before making themselves look stupid, as always
Yes, the Pentagon did reduce spending and that caused the downturn.
This has happened before, please people, before running your mouth investigate!

Quote from politicaljunkie : Its a yes or no answer. It appears as though your answer is "yes". Correct?

The DoD took a nice haircut back to 2006 funding levels. I have no issue with that and absolutely support it.

Quote from Krazen1211 : The DoD took a nice haircut back to 2006 funding levels. I have no issue with that and absolutely support it.

Good. And I agree.

Next question. Do you realize that cuts in government spending will directly affect our GDP numbers? For example, if we didn't take the "haircut", we would have had positive growth.

The point is, you can't scream for cuts and then bitch about a low GDP number after you get those cuts.

Quote from politicaljunkie : Good. And I agree. Next question. Do you realize that cuts in government spending will directly affect our GDP numbers? For example, if we didn't take the "haircut", we would have had positive growth. The point is, you can't scream for cuts and then bitch about a low GDP number after you get those cuts.

the two "cuts" are not the same.

cuts to defense spending actually cost losses of jobs and output in the USA, where such people live and such equipment is manufactured.

cuts to other welfare programs have no such effect...just one simple example: cuts in giveaways that incentivize people to be lazy, forcing them to go out and get a job, any job, even one "beneath" them, actually will INCREASE GDP and REDUCE unemployment.

cuts in productive government spending is NOT the same as cuts in the welfare state and freebies to the 47%

Quote from Radeck : the two "cuts" are not the same. cuts to defense spending actually cost losses of jobs and output in the USA, where such people live and such equipment is manufactured. cuts to other welfare programs have no such effect...just one simple example: cuts in giveaways that incentivize people to be lazy, forcing them to go out and get a job, any job, even one "beneath" them, actually will INCREASE GDP and REDUCE unemployment. cuts in productive government spending is NOT the same as cuts in the welfare state and freebies to the 47%

In addition to being completely ignorant to the situations of the unemployed, your assertion regarding the impact on spending isn't true at all.

Quote from politicaljunkie : Good. And I agree. Next question. Do you realize that cuts in government spending will directly affect our GDP numbers? For example, if we didn't take the "haircut", we would have had positive growth. The point is, you can't scream for cuts and then bitch about a low GDP number after you get those cuts.

you're discussing the 2006 DoD cuts.. when that took effect did the GDP go negative? The answer is on my post in the previous page which shows every Quarter since GDP was measured..

oh, and since the economy is going gangbusters, Obama decided to shut down his "Jobs Council" [usnews.com], which was a farce to begin with (and he hasn't met with them in almost a year, since feb 2012), but yet another nail in the coffin of the Obama lie about jobs being the "first thing he thinks about when he wakes up and the last thing he thinks about when he goes to sleep".

funny how the "Council" stayed active until just after the election, no? how convenient.

I love how they blamed it partially on anticipated cuts in defense spending which ironically is what they are calling for! So are they admitting that cutting defense will hurt the economy? Is this one of those "moments of unintended honesty"?

Quote from barnz008 : Watch out. Things will get much better.

Summer of recovery? LOL

Quote from 124nic8 : Easy explanation: the article is not a troll. In addition to military spending decline, Hurricane Sandy effects at work.

What does the article not being a troll have to do with anything?

No, just a convenient excuse, rather than admit that Obama's economic policies are a dismal failure....there is no way whatsoever that the miniscule defense cuts (in comparison to the economy at alrge) can wipe out 3% points in GDP growth....ditto for Sandy....it's just spin, hoping to pull the blinds over the eyes of as many low-information voters as possible.

Quote from politicaljunkie : Its a yes or no answer. It appears as though your answer is "yes". Correct?

I smell a gotcha question coming on!