http://www.nbcnews.com/business/eco...t-time-3-1-2-years-1B8174851?ocid=msnhp&pos=1 I still wonder if raising taxes even more is the right thing to do.
Clearly $16 TRILLION of debt isn't enough to get an economy going. MUST SPEND MOAR and then raise taxes MOAR!
Cuts in government spending are a major factor in this. This is good, right? People have been screaming for years that the government has a spending problem.
Thread title is very misleading. But economists said the surprise 0.1 percent contraction in the fourth quarter's annual growth rate was likely a brief pause in an otherwise halting, four-year recovery from the 2007 recession. “This isn't the start of a new recession,” said Paul Ashworth chief U.S. economist at Capital Economics.
Interestingly, MARIS61 quotes the democratic party talking point on the issue. The ONE economist who put any sort of positive spin on a possible 2nd recession on Obama's watch. We should have suffered this contraction in 2009 had we just left things go, and we'd be booming right now. As it is, do the math. The $1T in deficit spending (borrowed money) is 1/16th of the entire GDP or 6%. Take away that borrowing and you see how miserable the democrats' economic policies have been. GDP growth of near -6% all along. Take away borrowing for any year of any other presidency and it's not been negative. http://ycharts.com/indicators/gdp_growth As it was before Obama's emergency stimulus spending, negative GDP growth was already abating. Q4 2008 was -8.4%, Q1 2009 was -4.4%, Q2 was -1.1%.
