"U.S. economic momentum screeched to a halt in the final months of 2012, as businesses pared back inventories and government spending fell sharply, while lawmakers struggled to reach a deal on tax increases and budget cuts.
Source Link: http://blogs.wsj.com/economics/2013/...dly-contracts/
The nation's gross domestic product shrank for the first time in three and a half years during the fourth quarter, declining at an annual rate of 0.1% between October and December, the Commerce Department said Wednesday."
You can't really spin this to make it look like it's a good thing. Apologists will say that the year's growth rate of 2.2% is better than the 2011 rate of 1.8% and also blame Congress for not passing new laws. However, the wealth and health of the USA is in the doldrums. We are failing. We are becoming Europe.
No talk in DC about jobs -- only talk about social issues.