US Americans GDP contracts

[DEACisGO]

http://www.bloomberg.com/news/2013-01-30/economy-in-u-s-unexpectedly-shrinks-as-defense-spending-plunges.html

OBAMMAAAAAAAA!

 

[ImTheCaptain]

Kirk would definitely know how to fix this shit.

 

[94Deac]

Smaller govt and govt spending = less money flowing to private sector businesses. It's what the right wing wants.

 

[RJKarl]

Right wing nut jobs don't understand that when you cut government contracts that you cut private sector jobs.

 

[Deadbolt]

Right wing nut jobs don't understand that when you cut government contracts that you cut private sector jobs.

Mention that in a group of conservatives and you can hear an echo.

 

[ConnorEl]

Kirk would definitely know how to fix this shit.

Build more Enterprises. Or roads, etc.

 

[ArlingtonDeac]

Austerity has a price. Maybe it's not a great idea right now, hey?

 

[EatLeadCommie]

Where has the austerity been, either now or in the last 4 years? We continue to spend out the ass.

 

[WFU71]

Where has the austerity been, either now or in the last 12 years? We continue to spend out the ass.

FIFY

 

[SkinsNDeacs]

I love that the party that has no control in Washington is getting blamed in this thread.

 

[PhDeac]

I love that the party that has no control in Washington is getting blamed in this thread.

No control. They don't control the House?

 

[Deacon923]

so we're dead then.

 

[SkinsNDeacs]

No control. They don't control the House?

Are you suggesting that the House republicans control fiscal policy?

 

[DeaconSig]

Does fiscal policy get made without their consent?

 

[PhDeac]

Are you suggesting that the House republicans control fiscal policy?

Are you suggesting the House isn't in Washington?

 

[WFFaithful]

Where has the austerity been, either now or in the last 4 years? We continue to spend out the ass.

"A large cut in federal spending, primarily on defense, was one of the biggest drags on growth. Defense spending contracted at a 22% annual rate.
Alan Kreuger, head of President Obama's Council of Economic Advisers, attributed the deep decline to the looming sequestration deadline.
"A likely explanation for the sharp decline in Federal defense spending is uncertainty concerning the automatic spending cuts that were scheduled to take effect in January, and are currently scheduled to take effect on March 1st,""

http://money.cnn.com/2013/01/30/news/economy/gdp-report/index.html?hpt=hp_t3

 

[DirkTheDeac]

Right wing nut jobs don't understand that when you cut government contracts that you cut private sector jobs.

If that is the case then why does Obama want to cut defense spending? Does that not cut private sector jobs?

 

[WFFaithful]

If that is the case then why does Obama want to cut defense spending? Does that not cut private sector jobs?

Republicans are screaming for cuts. If he has to cut something, defense is his best option.

 

[94Deac]

If that is the case then why does Obama want to cut defense spending? Does that not cut private sector jobs?

The majority of defense money is channeled to very large companies, some with questionable histories involving kick-backs, over-runs, and fraud. I'm more in favor of keeping small businesses in the game than a company like Haliburton or Lockheed.

 

[TuffaloDeac10]

Where has the austerity been, either now or in the last 4 years? We continue to spend out the ass.

Total (Fed + State + Local) government expenditures as a percent of GDP.