U.S. consumer confidence unexpectedly plunged in January to its lowest level in more than a year. The U.S. economy unexpectedly posted a contraction in the fourth quarter of 2012 — for the first time since the recession — “defying” expectations that economic growth is in our future.
If the economy were as vibrant as President Obama has told us it is, a belt-tightening in a single sector of government surely wouldn’t be enough to bring about “negative growth.” But that’s what happened. Unexpectedly.
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