The world's largest economies are losing momentum

Started Apr 25, 2013 | Discussions thread
Don_D
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cutting the deficit = slow growth.
In reply to brynjarnielson, Apr 26, 2013

The latest figures confirm the OP's point.

"The Commerce Department's latest read on growth Friday showed U.S. gross domestic product expanding by 2.5 percent in the first three months of the year, less than the 3.1 percent pace forecasters had expected.

Analysts say deficit-cutting moves -- including a two percent payroll tax hike that kicked in Jan. 1 and the ongoing the federal budget cutting known as sequestration -- are beginning to take a bite out of growth. That’s expected to continue later this year."

I like cutting the deficit, but we should not expect rapid growth at the same time....the housing market continues to improve however and will help things along.

Lots of people are worried about inflation, but I'm not one of them.

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Don

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