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D.C. Is Dragging Down the Economy

Posted By Barry Ritholtz On November 8, 2013 @ 1:00 pm In Data Analysis,Economy,Politics | Comments Disabled

click for larger chart
iVzsyKoqyUtU [1]
Source: Econtrarian [2]

 

The past two days have seen two positive surprises in economic data. Yesterday, the gross domestic product [3] came in at 2.8 percent growth, significantly better than consensus expectations of 2 percent. This morning, payrolls jumped [4] by 204,000 workers, against median estimates of 163,000.

Now imagine how much better the underlying economy might be if the federal outlays were not contracting.

What’s that you say? Isn’t government spending out of control?

 

Continued here [5]

 

 


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2013/11/d-c-is-dragging-down-the-economy/

URLs in this post:

[1] Image: http://www.ritholtz.com/blog/wp-content/uploads/2013/11/iVzsyKoqyUtU.png

[2] Econtrarian: http://the-econtrarian.blogspot.com/2013/11/v-behaviorurldefaultvmlo.html

[3] gross domestic product: http://www.bloomberg.com/news/2013-11-07/u-s-stock-index-futures-fall-before-gdp-report.html

[4] payrolls jumped: http://www.bloomberg.com/news/2013-11-08/payrolls-jump-by-204-000-as-u-s-economy-weathered-shutdown.html

[5] Continued here: http://www.bloomberg.com/news/2013-11-08/how-washington-is-dragging-down-the-economy.html

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