The most vocal justification provided for the disappointing Q4 GDP print
by the mainstream was an increase in US government "austerity"
resulting in a decline in the government contribution to the economic
bottom line in the last quarter (or first fiscal quarter of 2013).
Ironically, both total spending and total debt issuance in the past
quarter increased, which means that far from being austere, the US actually spent more, not less, i.e., the opposite of austerity.
Read more: http://www.zerohedge.com/news/2013-02-06/what-us-government-spent-its-money-last-quarter
Read more: http://www.zerohedge.com/news/2013-02-06/what-us-government-spent-its-money-last-quarter
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