If the AP thinks it’s getting bad now, wait until the economy starts to fully absorb Obamacare. Or should I say, until Obamacare starts to absorb the economy.
Bring on the “unexpectedly” for the 48th straight month:
The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.
The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That’s a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
The surprise contraction could raise fears about the economy’s ability to handle tax increases that took effect in January and looming spending cuts.
Let me get this straight… in September of 2012, the Federal Reserve launched QE3 in order to “rev up the economy.” In the 4th quarter the economy posted a “stunning drop,” and in reaction the first thing the Fed is talking about is doing another round of “quantitative easing”?
What’s the definition of insanity again?