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Economy Shifts Into Reverse

Cuts in defense spending blamed for downturn

January 31, 2013

WASHINGTON (AP) — The U.S. economy shrank unexpectedly late last year, a reminder of the biggest threat it faces in 2013: sharp government spending cuts and prolonged political budget fights....

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(22)

LogHog

Jan-31-13 4:03 AM

my,oh my..what an out look for the Obama economic "plan"

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justmytake

Jan-31-13 6:13 AM

WOW, what a surprise!..... NOT

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daWraith

Jan-31-13 6:38 AM

Never got out of first gear in the first place.

FACE IT: Nobama doesn't have a CLUE WTF to DO!

He is one trick pony, SPEND MONEY!

Can you SPEND your way out of bankruptcy??? {Bleep} NO, idiot!

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whgfeeling

Jan-31-13 7:58 AM

lol. maybe this time i can triple profits. poor reppys.

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LogHog

Jan-31-13 8:08 AM

wheeldog...yes..you will be able to do more than that, if it.s wall street stocks...but when You least expect. your money will become worth nothing at all...good luck with your govt. plan...the Chinese have a different plan for the US Dollar

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LogHog

Jan-31-13 8:11 AM

obummer and fed Ben...ben what we need is mo money..yes, your right mr pres...I'll get right on that as soon as I get back to my computer...obummer "great"

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daWraith

Jan-31-13 8:19 AM

Proof that weefailing is delirious.

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dyingov

Jan-31-13 10:57 AM

Just bailing-out the "big" insurance companies! And the peeps thought they were helping the "victims" of Super Storm Sandy!

"NYU Medical Center suffered significant damage when Sandy hit Manhattan in late October, but within two months, the privately owned hospital received $150 million in FEMA aid.

Today, with the help of your tax dollars, the hospital is almost fully operational.

Political leaders have praised the swift infusion of cash, but some victims of the storm say it exposes a gaping inequity in the way FEMA handles federal disaster grants.

Individuals with flooded homes cannot get FEMA disaster grants until all of their private insurance claims have been settled, but that same rule does not apply to large institutions like NYU Medical Center, even though they have private insurance contracts in the hundreds of millions of dollars."

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Triton

Jan-31-13 11:00 AM

Can't a liberal catch a break? All of the whining about the military budgets and spending too much on war (of course Obama has maore troops in more countries than did FDR and he fought WWII), but then when there are military spending cuts it affects the horribly weak Obama economy. He has been spectacular in his reach. Last year he signed and Exec Order that all Fed gov agencies must include foreign made products in their bid specs, and his brother Christopher is still busily recruiting US manufacturing to China in his capacity as a paid/resident recruiter for the Chinese economy. Maybe Obama should start spending cuts with the hundreds of billions spent each year as grant money to left wing academics/social scientists etc, to keep the votes coming in. Lets dump some of that pork and maybe let the military alone..or maybe restart the draft as a means of cutting the military budget. What? liberals being drafted and asked to serve? That won't do.

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intresting

Jan-31-13 11:41 AM

This is where Obama and his policies have succeeded beyond expectations. He will not stop until this country is NO MORE. Perhaps when the comfortably poor wake up to this fact we may be able to reverse this devastating momentum. Only lawyers, non-profit recipients, crony capitalists and the comfortably poor like this current economic direction--because they're being fed by the system. If that's you, you should be afraid, very afraid.

What a coward this POS POTUS is!

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richardwhee

Jan-31-13 1:14 PM

Saw on the news last night that the economy is improving. STEEL IMPORTS at the port of New Orl are up 200%. How does this help American Workers???? All double talk.

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walksabout

Jan-31-13 10:17 PM

what of the 27 billion $$$ bailout money the news says business won't be paying back to the taxpayers ? Much of the spending problem is private business that parks between government services and billing with their non performing hand out waiting for a big fat overcharge payment from the pork trough.

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walksabout

Jan-31-13 10:20 PM

take medicare and more scams. if they can provide same as medicare nad maybe for for same cost as medicare, great. But, they want your medicare money and more for their stuff. Get private business out of medicare.

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walksabout

Jan-31-13 10:22 PM

need to read these posts from last to first, stopping after four or five posts when the window dressing has been shed and what matters has become front burner.

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walksabout

Jan-31-13 10:24 PM

pull all males out of combat and let the girls go. see how that works out for you.

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Gooseman

Jan-31-13 11:28 PM

NEW YORK -- The Dow logged its best start to the year in almost two decades.

Stocks rallied in the first week of the year after U.S. lawmakers reached a deal to avoid the "fiscal cliff," and then pushed higher toward record levels as optimism about the housing market recovery grew. Decent company earnings for the fourth quarter and an improving job market also helped lift markets.

The Dow Jones industrial average ended the month up 5.8 percent, its strongest January since 1994, according to S&P Capital IQ data. The Standard & Poor's 500 finished the month 5 percent higher, its best start to the year since 1997.

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Gooseman

Jan-31-13 11:33 PM

Was someone whining about the economy?

Was some calling the President a Marxist?

Are some people just blinded by hate and stupidity?

Please read: "Stocks rallied in the first week of the year after U.S. lawmakers reached a deal to avoid the "fiscal cliff," and then pushed higher toward record levels as optimism about the housing market recovery grew. Decent company earnings for the fourth quarter and an improving job market also helped lift markets."

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whgfeeling

Jan-31-13 11:59 PM

wrait..don't hate because a lot of us know how to make money. it's not in light bulbs lol. sad, sad, sad. is it getting dim in here? lol.

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daWraith

Feb-01-13 6:44 AM

weefailing I am making nice 6 figures and could give a shat less what you do or don't.

If you made $1000 last year and $3000 this year you are 3 times, BFD!

Anybody who thinks Obama has not totally wrecked the US economy has NO CREDIBILITY, methinks you are a lying sack of Shiite.

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Thoughtful

Feb-01-13 8:22 AM

Mr. Obama has no concept on how to create private sector jobs. his solution to everything is for the government to spend. Sadly, he has never been exposed to the real private sector world where jobs are truly created. He will not listen And has us as a country on a path of failure. We need to send a strong message in 2014.

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rover1958

Feb-01-13 3:28 PM

but...but....but..how can this be. DuhNostradumbazz tells us that Obama has wrecked the economy. Yet, **** nuz (Shep Smith) ust reported the stock market over 14000 and heading for all time record high. Plus, real estate rebounding at over 5 percent per month; Plus, first mortgages at all time low. What's not to cheer about! All praise OBAMA!

All give a Bronx cheer to DuhWraith!

bwhahahahahahahahhahah!

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daWraith

Feb-01-13 4:41 PM

Blover you ph****ing idiot the market means NOTHING when interest rates are almost zero.

Today unemployments figures WENT UP to 7.9%

157,000 jobs created but 169,000 jobs DISAPPEARED when people LEFT the labor poll.

8.5 MILLION FEWER employed now then when BUSH BUSH BUSH was president.

AND the population went up almst 10 MILLION.

DAZZLE us with your brilliant WVU education and explain why THAT is good, Hayseed:__________________?????

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