Friday, April 27, 2012

2012 Q1 US GDP lower than expected...Republicans should be happy, no?

As noted by Bloomberg (among many), government spending has fallen 6 straight quarters, or as CNBC's Jay Carney notes, "Government has become its own worst enemy when it comes to the economy."

Republicans should be cheering, no?

This is the austerity they wanted -- cuts in government spending, to reduce the government deficit -- to inspire confidence in markets.  They wanted to have drastic cuts in federal spending -- 8.1% quarterly drop in defense spending not enough?

Or maybe, some Republicans are starting to understand Econ 101: Total GDP = Private GDP + Public GDP.

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