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Economy Shifts Into Reverse

Cuts in defense spending blamed for downturn

January 31, 2013
By CHRISTOPHER RUGABER, AP Economics Writer , The Intelligencer / Wheeling News-Register

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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