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Economy shrinks for first time since recession ended. Are you better off than you were last year?

Fox Report with Shepard Smith 2013/01/30 16:00:00
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The country’s fiscal health got a gut-check Wednesday after a report by the Commerce Department showed the U.S. economy unexpectedly shrank in the fourth quarter. Despite stronger consumer spending, it’s the biggest dip the country has seen in three years.

The U.S. economy unexpectedly shrank from October through December for the first time since 2009, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles. The drop occurred despite stronger consumer spending and business investment. The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That was a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.

aig economy

Read More: http://www.foxnews.com/politics/2013/01/30/us-econ...

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Top Opinion

  • M A 2013/01/30 18:33:06
    No
    M A
    +18
    25+ million unemployed
    48% of america on welfare
    15-20 million new mouths to feed soon

    Yep thats some solid recession recovery Obama has going

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  • BonnieDeutsch 2013/02/28 13:30:55
    No
    BonnieDeutsch
    I haven't been in good shape since Sept. 2011. I've never been able to get back to where i was then. Someone has my money and I WANT IT BACK !
  • foxy 2013/02/07 05:14:00
    About the same
    foxy
    Have not noticed much difference, just cut our cloth as we can, try not to spend the rent!
  • Richie Rich 2013/02/04 19:13:14
  • forrest.green.5891 2013/02/03 23:52:17
    Yes
    forrest.green.5891
    +2
    Much better off.
  • Jane forrest... 2013/02/04 04:59:51
    Jane
    Me too
  • Eastexn25 2013/02/03 20:39:30
    No
    Eastexn25
    Savings is depleting, gasoline is a lot higher, medical is even more out of control, groceries are up around 30%, now My paycheck has shrunk $190/mo, haven't had a COL raise in 3 years... Am I better off this year?? Of course not and it is looking just as bad for 4 more years!!
  • Rick4Ron - Paul☮2012 2013/02/03 18:03:52
    No
    Rick4Ron - Paul☮2012
    The recession has ended? That's news to a lot of people. If our corrupt congress and Executive branch, continues destroying liberty and our economy... we will be looking at something worse than a recession. I fear, it may be too late, either way. To all those who voted for the failed liberal/conservative paradigm, Thanks, for helping our nation head to a 22 trillion dollar debt, in the next 4 years. And I have to ask... when did liberty and freedom become unpopular? Clearly, the American voter is the least informed, in the world.
  • Michaelene 2013/02/03 16:55:37
    No
    Michaelene
    Every cost has increased, all without raises for these 4 long years.
    All insurances, home, health, cars are rising.

    Food prices higher and gas prices have been solidly double what it was 4 years ago.

    New taxes are wide ranging while others increases in home, school, business, opt, sales, state and federal health tax rates go up up up up up!

    The truth is the last time a "stimulus plan" helped up average Americans was when G.W. Bush's two year $600 credit for all taxpayers and families!

    Our economy is in danger of running out of money for the gov't top heavy costs, with no jobs and no wealth left to tax. Chaos will be the result.
  • WOJO 2013/02/03 16:44:14
    No
    WOJO
    +1
    I need 3years to retire at the proper age.... I can't because the economy ,since Obama was elected.\, has forced me to extend my mortgage to 40 years instead of 30. My daughter has lost her job and my wife's 40 years in the medical field doesn't even matter all the hospitals are laying off. So am I better off today NFW!!!!
  • Jim 2013/02/03 14:11:01 (edited)
    About the same
    Jim
    The REAL economy has been in contraction for 40 years!!!

    What's grown is the creation of fictitious and predatory capital i.e. Finance Capitalism! Fake wealth that's created to support the growth of corporate welfare and camouflage the engineered destruction of Labor Value. Derivatives were once illegal! They were brought back to finance deindustrialization and the wholesale equity stripping of the nation.

    THE RECESSION *NEVER ENDED*!!! The RATE of contraction and recession varied but, we haven't seen a good economy since the 1960's. I do remember a brief respite from 1976-1978 but, it's been downhill ever since. BTW, the alleged prosperity of the 1980's was completely fake and fueled by the aforementioned first-generation measures of Finance Capital.
  • les_gvt 2013/02/03 05:33:57
    No
    les_gvt
    +2
    SHEP- THE RECESSION NEVER ENDED- IT IS ALL LIES AND COOKING THE BOOKS

    if you would have ever bothered to look at the number of people falling out of the work force, even you could understand
  • Soundstorm les_gvt 2013/02/03 06:43:43
    Soundstorm
    +1
    It's been said that the recession ended in June 2009. I wonder what that was based on. And yet for the 3 1/2 years since the Democrats and its affiliated liberal cheerleading sections continued to blame President Bush for the lethargic economic recovery.
  • Steelshrt 2013/02/03 04:46:43
    No
    Steelshrt
    +1
    Worse off.
  • zbacku 2013/02/03 04:31:13
    No
    zbacku
    +2
    Breaking News Shepard: The Recession has NEVER ended. And we are about to plunge deeper in debt and decay because of Obamacare.
  • Chris 2013/02/03 03:20:50
    No
    Chris
    +4
    My take home pay shrunk because my taxes went up. I work two jobs to support my family, am struggling to make ends meet and Obama considers me "rich".
  • Diana 2013/02/03 02:36:51
    No
    Diana
    +2
    Who told you the recession ended.Not where I live.Gas is going back up.Food prices are high.Many stores closed in my area.Jobs are very scarce.
  • GAC 2013/02/03 00:58:56
    No
    GAC
    +3
    This country committed her greatest mistake last November by giving that anti-American tyrant four more years in office. Rough economic waters are ahead and coming fast.
  • topcat128 2013/02/03 00:52:25
    No
    topcat128
    +6
    The real unemployment and under employment is around 18 to 20% or more. All the new jobs I've seen created are at low pay(15 an hour or less). I know two college graduates, who jobs went to china,who are now working at two low paying jobs just to eat. They have both lost their homes.
  • El Prez 2013/02/03 00:50:19
    About the same
    El Prez
    But the US. government is by 21 million, which they got fom the AIG loan payback. A Profit!!!! Poior sad assed haters being proven wron on so many levels, it hurts!!!
  • Soundstorm El Prez 2013/02/03 06:38:52
    Soundstorm
    The US government? Who gives a flying F about the US government? It's too huge and its main activity is wasting money. But the rest of the country is still screwed. And they expect more tax revenue from us? Wish!
  • Soundstorm 2013/02/02 22:55:30
    About the same
    Soundstorm
    +1
    Now is the time for all Americans to ask themselves; are they better off today than they were after eight years of George Bush or after four years of Obama? Actually November 6 was the day they should've pondered that question but this report wasn't available then. It's a little too late now.
  • El Prez Soundstorm 2013/02/04 20:44:44
  • Soundstorm El Prez 2013/02/07 10:38:25
    Soundstorm
    So it wasn't Obama who passed 23 executive orders for new restrictions on firearms for no better reason than to seize the opportunity to exploit the Newtown tragedy?
  • trailerguy1 2013/02/02 19:52:01
    Yes
    trailerguy1
    I am better off. I cut back on spending on fun stuff and paid off my debts. I moved to a cheaper place. I traded my car and got a good deal with lower payments. I worked my butt off at work and got a raise and a nice bonus. That's how you get ahead. You make your own prosperity. If you wait for the government to do it for you, it will never come.
  • topcat128 trailer... 2013/02/03 00:53:34
    topcat128
    +2
    That if you job wasn't sent to Mexico, China or India like my two friends.
  • Patrick Henry~PWCM~JL 2013/02/02 18:55:59
    No
    Patrick Henry~PWCM~JL
    +4
    What, did Obozo wave his wand and declare "Mission Accomplished" and now the recession is over? HIS economy STILL SUCKS! I watched gas go up a dime a gallon in the space of two days!!!
  • lil crazy 2013/02/02 17:36:48
    Yes
    lil crazy
    +1
    I guess it really depends on what you mean by better off. I live in an area I like better but in an apartment I like less. I think I am in a better mental state and dealing with less BS than I was last year. Financially I am doing about the same. Physically I am doing a bit better. So overall I would have to say I am better off than I was last year.
  • Bob 2013/02/02 16:13:08
    No
    Bob
    +1
    It is nice to know that huge companies can beg for assistance from the tax payers and still come out on top of course with huge bonuses. So self absorbed.
  • Lonzo 2013/02/02 13:35:27
    No
    Lonzo
    +1
    But it has little to do with the country or economy.
  • ed 2013/02/02 11:53:31
    No
    ed
    +2
    Really the recession has ended [I don't think so]and no things are even worse now for some reason i now have about 47 dollars extra taken out of my already weakly pay check thanks to obama.
  • Bluebird 2013/02/02 05:57:12
    No
    Bluebird
    +2
    My taxes went up in January by 3,700. No I'm not better off.
  • Bonita Colley 2013/02/02 03:14:58
    No
    Bonita Colley
    +4
    We bought a brick of cheese 2 months ago for $8, just today that brick costs $17!!! No we didn't buy it!
  • Dee Zyn 2013/02/02 02:23:44
    No
    Dee Zyn
    +3
    The reason for stronger spending is the prices went up.
  • texasred 2013/02/01 23:46:00
    No
    texasred
    +4
    And a lot worse than I was in 2008.
  • Wm Kabrich 2013/02/01 21:54:31
    No
    Wm Kabrich
    +4
    No Berry Owebumer has been sucking me dry since 2009
  • gerald.rice 2013/02/01 21:01:19
  • Spider20 2013/02/01 19:49:20
    No
    Spider20
    +5
    DC is out of touch......it was announced on last week's local news that my area will see another factory closing soon.....and those jobs are headed out of this area.....we're not seeing economic recovery in my area.....
  • cfd007 2013/02/01 17:40:24
    No
    cfd007
    +4
    With a Marxist in the WH we'll be lucky to save our country.
  • shadow76 2013/02/01 16:35:09 (edited)
    No
    shadow76
    +4
    The recession ended? Nothing improved for anyone I know! The price of gas and food is ridicously high, so are taxes. People are STILL out of work.
  • ♥Patience Is Love♥ 2013/02/01 15:27:59
    No
    ♥Patience Is Love♥
    +5
    I still can't even afford Wendy's!! =(
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