Obamanomics shrinks the economy

NY Times:

U.S. Economy Unexpectedly Contracted in Fourth Quarter

Economic output at the end of 2012 fell at an annual rate of 0.1 percent as weaker exports, a drop in military spending and a slower buildup in inventories combined to pull the economy down.
I am sure that President Obama will not take responsibility for the performance of the economy in a down quarter.  It is getting hard to blame George Bush so of late he has been blaming House Republicans who want let him spend in the manner to which he would like to become accustomed.

But it is hard to avoid the fact that businesses have been cutting back to pay for higher healthcare cost because of Obamacare.  Many are already laying off workers and reducing operations to meet the added cost.  Some upper income people are also reducing spending because of higher taxes.


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