“The White House and its media didn’t even stop to take a breath. Before news of U.S. GDP shrinking 0.1 last quarter had even hit the cable airwaves, we were being told by both that this collapse was mostly due to the fact that the federal government didn’t spend enough during the last quarter of last year. Translation: Don’t blame Obama for this. Had we just grown the size and power of The State like he wants, we’d all be sitting in clover.
Except that simply isn’t true.
There was no decrease in government spending during the fourth quarter of last year. In fact, the government spent more money between October and December of 2012 than it did during the previous two quarters. So federal spending actually increased during the 4th quarter.
Would you like some facts to go with your media propaganda?
1st: 966,188
2nd: 884,957
3rd: 809,969
4th: 907,912
Now we’re being told the economic slide wasn’t due to an overall decrease in State spending, but that it was due to a specific decrease in federal spending, and, naturally, Hurricane Sandy:
“A likely explanation for the sharp decline in Federal defense spending is uncertainty concerning the automatic spending cuts that were scheduled to take effect in January, and are currently scheduled to take effect on March 1st,” explains Alan B. Krueger, the Chairman of the Council of Economic Advisers in a statement. “The decline in government spending across all levels reduced real GDP by 1.33 percentage points in the quarter.”
Here’s Ezra Klein, who the Washington Post still sells as an objective journalist…”
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You can count on deadbreitbart to misinform.
Whether it is through malice or ignorance is less certain.
GDP figures are seasonally adjusted, while the Treasury numbers on outlays are not.
All you have to do is read the Commerce Dept press release on the GDP numbers:
Here’s what deadbreitbart isn’t explaining to you: