Fourth Quarter GDP from 2013 Revised Down

The Department of Commerce revised the 4th quarter GDP from 2013 to 2.4% from 3.2%.

Here’s the takeaway line:

Also contributing to the slowdown: a larger decrease in federal government spending and downturns in housing investment and in state and local government spending.

Federal spending decreased only in the tens of billions.  If that is all that is propping up this economy, then the private sector is truly in bad shape.

By the way, 2013 was such a banner year for economic growth, that GDP accelerated at a brisk 1.9%.

With all the programs, all the deficit spending, all the welfare, that is the best the Harvard and Princeton educated Democrats could do.

Obama’s Marxist policies have failed and it is high time we return to free market principles.

Or we continue the leftist course and get more of this.

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