“The U.S. economy unexpectedly shrank from October through December for the first time since 2009, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles. The drop occurred despite stronger consumer spending and business investment.”
Why did it drop, you ask?
“Still, the government spending cuts and slack inventory growth in the fourth quarter offset a 2.2 percent increase in consumer spending. And business spending on equipment and software rose after shrinking over the summer.”
Which means, of course, that Wingnuttia is going to demand more cuts, because the only way out of a recession is to cut services and give money to gazillionaires. We are so screwed.