Thanks Barack… GDP Drops .1% in Last Quarter of 2012

Worst. President. Ever.
The economy posted a drop of .1% in the final quarter of 2012.

CNBC reported:

The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.

The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.

The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That’s a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.

The surprise contraction could raise fears about the economy’s ability to handle tax increases that took effect in January and looming spending cuts.

Still, the weakness may be because of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth.

And those volatile categories offset faster growth in consumer spending, business investment and housing — the economy’s core drivers of growth.

Under the leadership of Barack Obama the US has seen anemic economic growth.

(Trading Economics)
The US is currently suffering through the worst recovery ever.

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#1 January 30, 2013 at 8:06 am
Bigkahuna commented:

Lets watch the msm spin this and blame Bush, or the GOP. Whatever it takes not Obigears fault
#2 January 30, 2013 at 8:08 am
Skandia Recluse commented:

Fourth quarter 2012? Isn’t that the Christmas shopping season? Isn’t that the quarter when retail makes it profit for the year?
#3 January 30, 2013 at 8:09 am
Lim Lynn commented:

I can’t see anymore this garbage where Traitor in Chief is messing with America’s Economy.
#4 January 30, 2013 at 8:43 am
cal rifkin commented:

What are we gonna do??
#5 January 30, 2013 at 8:48 am
shadow commented:

As opposed to the booming economy we had under his predecessor.
#6 January 30, 2013 at 8:55 am
Indiana commented:

Meanwhile….all of Obama’s advisers are standing around telling him what a Genius he is. Worst President (and administration) EVER!
#7 January 30, 2013 at 9:02 am
snewb commented:

Wait till Obamcare hits with taxes, penalties & fees and they pass Cap & Tax. This uncertainty is killing the job creators (small business) but Dems know nothing about business, payrolls, balance sheets, asset to liability ratios. Bunch of idiots!
#8 January 30, 2013 at 9:03 am
tommy mc donnell commented:

#5…we had a pretty good recovery going under bush until the democratic party took over congress in 2006 and the political left’s sub-prime mortgage stealth bomb exploded.
#9 January 30, 2013 at 9:08 am
west1890 commented:

Obama supporters should be THRILLED! He’s a success- he’s effectively destroying our economy, supporting social chaos and disarming the American people. Looks like we’re almost out of time America. So what do we do now? Is there ANYONE in Congress who will stand up against him and start the impeachment process?
#10 January 30, 2013 at 9:12 am
lincoln's widow commented:

“Is there ANYONE in Congress who will stand up against him and start the impeachment process?”

In a word, no.
#11 January 30, 2013 at 9:17 am
★FALCON★ commented:

*Collapsed* in the fourth quarter due to Obama’s re-selection and continued rampage on America using the communist Manifesto.

Own it, illiterate Obama voters, dead, illegal and multiple.
#12 January 30, 2013 at 9:19 am
Amalgamated Cliff Divers, Local 157 commented:

Boooooooooooosh! We need more illegals! Woo-hoo! Thank goodness for gun sales.
#13 January 30, 2013 at 9:23 am
CommieJuice commented:

This was the plan from the start. Mission almost accomplished for these disgusting liberals. When the crash comes, and it is coming, just remember who these people are, who the so-called new reporters who cheered this on, the so-called journalist, remember all of your so-called friends who supported this.
#14 January 30, 2013 at 10:23 am
MonkeyWrench commented:

Apparently, you are reading a different economic report than I read. Overall this was an upbeat report. Personal savings is up, consumer spending is up, and private investment is up. The drop in GDP was due solely to a sharp reduction in GOVERNMENT spending!

Great economic times are just ahead, which is why the stock market is having such a bull run. No one believes that the US is going into a recession, much less a depression.
#15 January 30, 2013 at 10:40 am
marcus tullius cicero commented:

I WOULD BE LAUGHING, IF IT WAS NOT SO PAINFUL. MEXICO HAS A GDP OF 3.5% AND AN UNEMPLOYMENT RATE OF 4.6%! SO WHY DO WE NEED IMMIGRATION? SORRY FOLKS, WE ARE DUMBASS GRINGOS…..THANKS TO THE KENYAN KING, AMERICA IS A THIRD RATE COUNTRY.
LOL MORONS VOTED FOR 4 MORE YEARS OF CRAPOLA……
#16 January 30, 2013 at 11:20 am
Ghost commented:

#14

so, you agree with Rush. He’s always said he’ll let us know when it’s time to panic. he keeps saying it’s not yet time to panic. you’re both wrong.

DIVORCE! now, while we still can
#17 January 30, 2013 at 11:43 am
shadow commented:

the political left’s sub-prime mortgage stealth bomb exploded.

So the “left’s” stealth bomb was created while Republicans held the White House and both houses of Congress? Sure. Nice attempt at rewriting history.
#19 January 30, 2013 at 2:16 pm
AUSONIUS commented:

Is anyone suprised, given the 20th century track record of the “economic success” of marxism?
#20 January 30, 2013 at 2:20 pm
Blacque Jacques Shellacque commented:

So the “left’s” stealth bomb was created while Republicans held the White House and both houses of Congress?

No, that bomb was created a long time ago by another Democrat named Jimmy Carter, and grew teeth under Bubba’s watch. The rest is all history. Not rewritten, but borne out by analysis.