REMINDER: This Is What's Crushing GDP

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics International Video Latest Friday, April 27, 2012 REMINDER: This Is What's Crushing GDP A quick reminder: What's holding GDP back is the drag on government spending. Austerity, basically. As Simone Foxman pointed out, today's number wasn't that bad. Personal consumption rose quite nicely. Other private numbers were fine. What got crushed: Government spending. Karl Smith clarifies: Federal Government: Subtracted 0.46 pts. SMACK. That is much bigger than expected and almost all comes from military drawdown. Two big quarters in a row of shrinking military expenditures. State and Local: Subtracted 0.14. Surprisingly high and looks like its coming from lack of highway investment. What the political endgame on that is I don’t know. Above is a chart showing American austerity. Read » Also On Money Game Today: A Quick Guide To Today's Big GDP Announcement Look How Cheap Things Are In America Compared To Other Certain Countries Here Are 6 Stocks Making Monster Moves Today This Is The Best Proof We've Ever Seen That Gold Is In A Bubble Advertisement CHART OF THE DAY: GUNDLACH: This Is The Chart That Says Apple Is Going To Plunge CHART OF THE DAY: This Chart Vindicates The Obama Economic Recovery CHART OF THE DAY: Home Prices Down To Late 2002 Levels Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: ipat39@gmail.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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