Libertarians Attack The GDP Report, Because It Shows That Spending Cuts Are Hurting The Economy

http://www.businessinsider.com/the-war-on-gdp-2013-2



On Wednesday, the Q4 GDP report showed a surprise contraction of 0.1%. It was the first contraction since the Great Recession.

The culprit: A marked slowdown in government spending, mostly fueled by the fastest annualized drop in military spending since the Vietnam War.

So naturally, one might look at the report and conclude, perhaps, that if we don't want GDP to keep shrinking, we ought to be careful about cutting spending too aggressively.

And so because of this natural impulse, libertarians and conservatives are launching a bizarre, misguided war against the GDP report.


Read more: http://www.businessinsider.com/the-war-on-gdp-2013-2#ixzz2JeEG52eg