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Jbird 
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4950 posts
| BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 7:47 am)
MSNBC headline banner U.S. economy shrank in 2012 4th quarter for first time since recession ended, hmmm I thought some Progressive on here a few days ago was crowing about the economy coming back to life?
LINK
This post was edited on 1/30 at 7:55 am
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McLemore
Member since Dec 2003
9638 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 7:51 am to Jbird)
quote:
since things were manipulated to make it seem as though the recession had ended
that's the real issue
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50Mullets 
LSU Fan
Member since Oct 2012
1078 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 7:51 am to Jbird)
quote:
I thought some Progressive on here a few days ago was crowing about the economy coming back to life?
That could be said at any time. We've been hearing about how the economy is about to turn the corner for 3 years. Seems it might have finally done so.
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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
12689 posts
 Online
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 7:52 am to Jbird)
But the housing market in the Washington, D.C. area is growing. All is well.
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Radiojones
LSU Fan
Dutchtown, LA
Member since Feb 2007
4202 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 7:53 am to Jbird)
quote:
U.S. economy shrank in 2012 4th qtr
This is really really bad news. I'm so tired of reliving the 70s...
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bigpapamac 
South Alabama Fan
Mobile, AL
Member since Oct 2007
14255 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 7:55 am to Jbird)
quote:
U.S. economy shrank in 2012 4th qtr
Well after manipulating and fluffing up the numbers all last year leading up to the election, we all knew when the truth came out this would be the headling. Not surprising at all.
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UGATiger26 
Georgia Fan
Athens, GA
Member since Dec 2009
1137 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:01 am to Jbird)
Get out of town!
You mean all those big numbers like "400,000 jobs added" don't mean jack when it's barely enough jobs added to keep up with population growth?
This post was edited on 1/30 at 8:03 am
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ShoeBang 
LA-Lafayette Fan
Member since May 2012
2102 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:02 am to UGATiger26)
What else is new? We haven't been "out of the recession" since before Bush left office.
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UGATiger26
Georgia Fan
Athens, GA
Member since Dec 2009
1137 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:04 am to ShoeBang)
the best part of that article is the first sentence...
"The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter"
Maybe stunning to you MSNBC.
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Radiojones
LSU Fan
Dutchtown, LA
Member since Feb 2007
4202 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:05 am to Jbird)
We obviously need more QE and government spending 
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lsuroadie
LSU Fan
South LA
Member since Oct 2007
3766 posts
Online
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:09 am to Jbird)
Once again, when the truth truck is barreling head on at you down the middle of the road...
where are the libs to be found???
Oh, that's right, they're over there in the 2A threads.
Forward!!!
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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
16738 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:09 am to 50Mullets)
quote:
We've been hearing about how the economy is about to turn the corner for 3 years.
Green Shoots! The Summer of Recovery!
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augrad00 
Auburn Fan
Member since Nov 2010
836 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:09 am to Jbird)
It was due to spending cuts in which Progressive warned that conservatives spending cuts missions would led to a slowing of the economy...I guess they were right. Even Mitt Romney admitted and he took some heat from people like Limbaugh.
During an interview with Time Magazine’s Mark Halperin, 2012 presumptive Republican presidential nominee Mitt Romney admitted that drastic spending cuts will hurt the economy, creating a “recession or depression“:
HALPERIN: You have a plan, as you said, over a number of years, to reduce spending dramatically. Why not in the first year, if you’re elected — why not in 2013, go all the way and propose the kind of budget with spending restraints, that you’d like to see after four years in office? Why not do it more quickly?
ROMNEY: Well because, if you take a trillion dollars for instance, out of the first year of the federal budget, that would shrink GDP over 5%. That is by definition throwing us into recession or depression. So I’m not going to do that, of course. What you do is you make adjustments on a basis that show, in the first year, actions that over time get you to a balanced budget.
People have been saying that the spending cuts would lead to slowing the economy since August 2012.
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cssamerican 
New Orleans Saints Fan
Member since Mar 2011
1769 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:16 am to Radiojones)
Hey, all this bashing isn't fair. I mean our current President inherited a weak economy from Obama.
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Jbird
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4950 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:18 am to augrad00)
quote:
drastic spending cuts will hurt the economy
What you believe we had drastic spending cuts?
This post was edited on 1/30 at 8:20 am
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lsuroadie
LSU Fan
South LA
Member since Oct 2007
3766 posts
Online
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:19 am to cssamerican)
quote:
Hey, all this bashing isn't fair. I mean our current President inherited a weak economy from Obama
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Lsut81
LSU Fan
Member since Jun 2005
54909 posts
Online
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:19 am to augrad00)
quote:
It was due to spending cuts in which Progressive warned that conservatives spending cuts missions would led to a slowing of the economy..
Please point out these DRASTIC spending cuts...
TIA
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Paluka
LSU Fan
One State Over
Member since Dec 2010
1693 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:22 am to 50Mullets)
quote:
We've been hearing about how the economy is about to turn the corner for 3 years.
It turned the corner then two more corners! 
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Radiojones
LSU Fan
Dutchtown, LA
Member since Feb 2007
4202 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:22 am to augrad00)
Can you please show us where these spending cuts took place?
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augrad00
Auburn Fan
Member since Nov 2010
836 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:23 am to Jbird)
Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth.
And those volatile categories offset faster growth in consumer spending, business investment and housing -- the economy's core drivers of growth.
Another positive aspect of the report: For all of 2012, the economy expanded 2.2 percent, better than 2011's growth of 1.8 percent.
The economy may stay weak at the start of the year because Americans are coming to grips with an increase in Social Security taxes that has left them with less take-home pay.
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