The propaganda media has already spinning the 2012 Q4 GDP contraction as a ‘fluke’ or a ‘one time thing’ blaming things from Hurricane Sandy (as if all the business in this country is conducted in New York and New Jersey)
to lowering in government spending:
GDP last quarter: Business investment and consumer spending both up. So what;s down? “Federal government spending fell significantly”
— Ezra Klein (@ezraklein) January 30, 2013
This covered the time period of October-December. So this includes all the Christmas shopping numbers, and the numbers were before 77% of Americans saw their taxes go up at the start of 2013. If the next quarter sees an ‘unexpected contraction’ in GDP, we are officially back in a recession.
But hey, lets go take away people’s guns, make sure illegals get citizenship before legal immigrants and do gay marriage. Far more important than the economy after-all.