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CajunAngele 
LSU Fan
Member since Oct 2012
4890 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 10:00 am to augrad00)
quote:
There are been alot of pending cuts that you just don't know about. Here's an example of cuts that go unnoticed:
Rep. Jason Chaffetz (R-Utah) acknowledged on Wednesday that House Republicans had consciously voted to reduce the funds allocated to the State Department for embassy security since winning the majority in 2010.
On Wednesday morning, CNN anchor Soledad O'Brien asked the Utah Republican if he had "voted to cut the funding for embassy security."
"Absolutely," Chaffetz said. "Look we have to make priorities and choices in this country. We have…15,000 contractors in Iraq. We have more than 6,000 contractors, a private army there, for President Obama, in Baghdad. And we’re talking about can we get two dozen or so people into Libya to help protect our forces. When you’re in tough economic times, you have to make difficult choices. You have to prioritize things.”
For the past two years, House Republicans have continued to deprioritize the security forces protecting State Department personnel around the world. In fiscal year 2011, lawmakers shaved $128 million off of the administration's request for embassy security funding.
4 deaths in Benghazi is the republicans fault?
Way to change the subject and deflect blame.
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GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
17344 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 10:04 am to augrad00)
quote:
augrad00
Why are you focusing on such a small component of a $15.6 Trillion GDP print. Defense spending fell from 0.6981 to 0.6557 Trillion from last quarter. That is only ~4% of the total GDP.
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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
16700 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 10:23 am to augrad00)
quote:
There are been alot of pending cuts that you just don't know about.
Don't tell me what I do and do not know.
Beyond your rude projection, pending cuts don't curb current GDP in a 1:1 ratio.
I'd argue that future expenses from Obamacare are more of a drag than future defense cuts.
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udtiger
LSU Fan
Louisiana
Member since Nov 2006
17950 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 10:31 am to CptBengal)
quote:
fail lib
Redundant
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CajunAngele
LSU Fan
Member since Oct 2012
4890 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 1:06 pm to Taxing Authority)
And too think the talking point over at mediamatters dot com, is to promote growth in the economy! 
How stupid do liberals think Americans are?
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Vissarion
Member since Jan 2013
64 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 1:14 pm to Jbird)
the economist thinks differently LINK
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TexTiga
LSU Fan
SugarLand , Tx
Member since Oct 2007
2108 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 1:28 pm to Jbird)
The White House on Wednesday blamed the devastation from Superstorm Sandy and disruptions from deep scheduled spending cuts for the surprise 0.1 percent drop in gross domestic product (GDP) in the fourth quarter
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moneyg
LSU Fan
Member since Jun 2006
14879 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 1:31 pm to augrad00)
quote:
It was due to spending cuts
We've had spending cuts?
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CajunAngele
LSU Fan
Member since Oct 2012
4890 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 1:32 pm to TexTiga)
quote:
The White House on Wednesday blamed the devastation from Superstorm Sandy, George Bush, The Arab Spring,ATM machines,Fox News and disruptions from Obama's Vacations,golf games and deep scheduled spending cuts for the surprise 0.1 percent drop in gross domestic product (GDP) in the fourth quarter
FIFY!
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moneyg
LSU Fan
Member since Jun 2006
14879 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 1:36 pm to jcole4lsu)
quote:
i hope you didnt graduate from au in econ
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91TIGER
LSU Fan
Lafayette
Member since Aug 2006
5449 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 1:43 pm to CajunAngele)
quote:
How stupid do liberals think Americans are?
Think, rather they know how stupid Americans are. Just take a look at who is in control of this govmnt, the prince of fools--Barry Soetoro !
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jcole4lsu 
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
21809 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 1:51 pm to Vissarion)
quote:
Vissarion
you realize the article you linked was published a full week ago, whereas the GDP data was released today dont you?
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Vissarion
Member since Jan 2013
64 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 2:00 pm to jcole4lsu)
quote:
you realize the article you linked was published a full week ago
yes, but the article wasn't talking about GDP data if you read it.
quote:
whereas the GDP data was released today dont you?
thanks for clarifying 
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jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
21809 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 2:15 pm to Vissarion)
quote:
yes, but the article wasn't talking about GDP data if you read it
the article was on the improving economy - the author would have to look back at their article as a result of incomplete data given these new GDP numbers.
it takes a great deal of mental gymnastics to justify referring to any economy that is actually shrinking as "recovering" or worse yet, "recovered".
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GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
17344 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 4:09 pm to Jbird)
Santelli:
“When you act like Europe, you get growth rates like Europe,” Santelli said. “Our discussions with economists sound like we’re in Europe. They’re always doing the right thing. They’re always thinking they know better, and this the kind of growth.”
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HailHailtoMichigan! 
Michigan Fan
Mission Viejo, CA
Member since Mar 2012
5176 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 7:39 pm to GumboPot)
You guys have your spending cuts. Where the frick is the growth?
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GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
17344 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 7:54 pm to HailHailtoMichigan!)
quote:
You guys have your spending cuts. Where the frick is the growth?
Did you happen to look at the individual components of today's GDP print? If not look a few post back where I posted a chart of each component and their relative growth quarter to quarter. The only component that was down besides government spending was inventories. Every other component is growing. As I mentioned in a previous post a decrease in government spending is good. Now only if the federal government could get out of the way in terms of regulation and taxation the GDP would fly.
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joshnorris14 
Florida Fan
Florida
Member since Jan 2009
19488 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:07 pm to jcole4lsu)
quote:
i hope you didnt graduate from au in econ
Auburn is actually one of the better place to learn economics at given its relations with the Mises Institute.
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DaGarun 
Northwestern St. Fan
NashVegas
Member since Nov 2007
15752 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 8:33 pm to joshnorris14)
I think you misinterpreted his point, josh...
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HailHailtoMichigan!
Michigan Fan
Mission Viejo, CA
Member since Mar 2012
5176 posts
| re: BREAKING NEWS: U.S. economy shrank in 2012 4th qtr (Posted on 1/30/13 at 9:10 pm to GumboPot)
quote:
decrease in government spending is good.
4th quarter shrink disagrees with this point.
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