Republican recalcitrance results in opposite of what they say they want
Fiscal fights ding economy
By: Joseph J. Schatz, Politico.com
January 30, 2013 08:57 AM EST
No one is predicting a "double-dip recession" yet — but Wednesday's negative-growth GDP reading put to rest the question of whether Washington’s budget wars can damage the economy.
They just did.
And with two major fiscal fights looming early this year, it's got policymakers worried there could be more grim news on the horizon for an economy already barely pulling itself out of the doldrums.
On its face, the 0.1 percent fourth quarter GDP contraction — the first negative growth since the middle of 2009 — announced by the Commerce Department drew mixed reactions from economists.
Analysts had expected GDP growth to be 1 percent to 1.2 percent. Still, investors appeared to shrug off the GDP number, as the Dow Jones Industrial Average was down slightly in morning trading.
(More here.)
By: Joseph J. Schatz, Politico.com
January 30, 2013 08:57 AM EST
No one is predicting a "double-dip recession" yet — but Wednesday's negative-growth GDP reading put to rest the question of whether Washington’s budget wars can damage the economy.
They just did.
And with two major fiscal fights looming early this year, it's got policymakers worried there could be more grim news on the horizon for an economy already barely pulling itself out of the doldrums.
On its face, the 0.1 percent fourth quarter GDP contraction — the first negative growth since the middle of 2009 — announced by the Commerce Department drew mixed reactions from economists.
Analysts had expected GDP growth to be 1 percent to 1.2 percent. Still, investors appeared to shrug off the GDP number, as the Dow Jones Industrial Average was down slightly in morning trading.
(More here.)
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