Notice that Q4 current dollar GDP is $15.829-billion. That puts National Debt at 103.8% of GDP.
— Mark Knoller (@markknoller) January 30, 2013
Get ready for another four years of this.
Via The Hill:
The nation’s economy unexpectedly shrank by 0.1 percent in the fourth quarter of 2012, casting fresh doubt on the strength of the economy recovery.
The new estimate of gross domestic product (GDP) from the Commerce Department marks the first time the economy shrank since it was in the depths of the recession in mid-2009.
The dip came as a surprise to economists. Experts had believed the U.S. would post a modest economic gain of slightly over 1 percent, after logging a 3.1 percent increase in the third quarter.