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|Subject: Urkel’s Robust Economy …||Date: 1/30/2013 11:35 AM|
|Author: ravvt||Number: 47572 of 71874|
GDP: Economy shrank in fourth quarter
WASHINGTON The U.S. 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.
… the only question is: When will Urkel proclaim these results to be Bush’s fault?
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