The U.S. Government Has Hurt The Economy In 11 Of The Past 12 Quarters
Austerity is slowing financial recovery.
The U.S. economy has just gone through some big, big changes. Big, good changes! But one thing has not changed: federal government spending, which can't ever stop being the giant turd in the economy's punch bowl.
U.S. gross domestic product grew at a shockingly large 4 percent annualized rate in the second quarter, the Bureau of Economic Analysis reported on Wednesday. That was a wild swing from a shockingly bad 2.1 percent GDP collapse in the first quarter.
Everything was up in the quarter -- consumer spending, business spending, housing, imports, exports, hooray. One thing was not, however, up: federal government spending. That fell for the 7th quarter in a row. Federal spending has cut into GDP for 11 of the past 12 quarters, in fact. Here is how that looks in chart form:
http://www.huffingtonpost.com/2014/07/30/federal-spending-gdp_n_5634092.html
GOP policies and ideas do not work!