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Weak dollar, spending cuts, GDP dips, gas prices soar

Brainerd Dispatch -- Just when the U.S. economy seemed to be gaining steam, a report from the Commerce Department came howling across the frozen economic tundra noting that the 2012 Gross Domestic Product contracted 0.1 percent in the year’s final quarter. Big whoop! It is, I’m afraid a big whoop. It’s the first setback to a slow economic recovery since 2009.

On top of that, a lower defense budget caused many defense contractors to start laying off workers in anticipation of the fiscal cliff (which was temporarily averted) and the likelihood of sequestration.

Sequestration, if it is realized in the final budget battle will demand more defense department cuts and across the board cuts to every segment of the federal government. (It’s a concern that new Secretary of Defense Chuck Hagel will have to contend

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Submitted Feb 04, 2013 By: angel4me

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honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Feb 7, 2013 12:01:16 AM Ignore honda0105 Report Abuse and a lot of this comes from the Iraq war we got pushed into.
52MPG Champion Author Dayton Posts:7,397 Points:1,767,680 Joined:Apr 2006	Message Posted: Feb 5, 2013 7:00:38 AM Ignore 52MPG Report Abuse Just what BO has said he wanted.
1007 All-Star Author Michigan Posts:576 Points:1,014,345 Joined:Jan 2008	Message Posted: Feb 4, 2013 10:00:40 PM Ignore 1007 Report Abuse And the U S debt goes up. Go big government.
snappytom2 Champion Author Corpus Christi Posts:3,634 Points:278,955 Joined:Jul 2008	Message Posted: Feb 4, 2013 3:13:29 PM Ignore snappytom2 Report Abuse the speculators are out and about.
JMW1942 All-Star Author Michigan Posts:711 Points:433,695 Joined:Feb 2012	Message Posted: Feb 4, 2013 2:45:17 PM Ignore JMW1942 Report Abuse This must be caused by Bush 1
fatboy97 Champion Author Twin Cities Posts:2,614 Points:1,733,925 Joined:Aug 2007	Message Posted: Feb 4, 2013 2:34:18 PM Ignore fatboy97 Report Abuse Most of it because we reelected OBAMA!!!! Yes, Weak Dollor, spending cuts, GDP, can all be directly tied to Obama!
tsgasprc Champion Author Colorado Posts:1,342 Points:365,990 Joined:Jun 2010	Message Posted: Feb 4, 2013 2:29:26 PM Ignore tsgasprc Report Abuse The only surprise to me is how many excuses this Administration can come up with. These people sit around all day and think this s$$T up.
FlyNFool Champion Author South Carolina Posts:8,375 Points:1,711,820 Joined:Aug 2008	Message Posted: Feb 4, 2013 2:28:11 PM Ignore FlyNFool Report Abuse My visits to Chik-fil-a have really gone up.
NMRawker Champion Author New Mexico Posts:1,162 Points:165,030 Joined:Sep 2008	Message Posted: Feb 4, 2013 2:27:35 PM Ignore NMRawker Report Abuse EVERYTHING is up, it doesn't matter who the President is, everything just keeps going higher and higher. There will never be an end to it!
FBI2991 Champion Author Michigan Posts:4,295 Points:1,164,315 Joined:Nov 2008	Message Posted: Feb 4, 2013 2:24:51 PM Ignore FBI2991 Report Abuse Gas prices aren't the only prices that are up. Check food lately???
walkit1 Champion Author Memphis Posts:3,067 Points:1,321,830 Joined:Jan 2007	Message Posted: Feb 4, 2013 2:23:44 PM Ignore walkit1 Report Abuse You know Obama has a plan, yes like the first term. He will do zero. wants to do away with the middle class. Everyone beholden to the Federal government. Media won last election for him. Spin! Spin!
masker5900 Veteran Author Mobile Posts:363 Points:169,665 Joined:Sep 2012	Message Posted: Feb 4, 2013 2:21:48 PM Ignore masker5900 Report Abuse Up go prices
bluetatanka Champion Author Philadelphia Posts:59,030 Points:808,555 Joined:Mar 2011	Message Posted: Feb 4, 2013 2:21:45 PM Ignore bluetatanka Report Abuse OK
Tralp All-Star Author North Carolina Posts:943 Points:217,420 Joined:Oct 2012	Message Posted: Feb 4, 2013 2:21:14 PM Ignore Tralp Report Abuse Obama has driven us down the wrong road, but will he turn us around? Thats a big NO.
TimTim All-Star Author Vancouver Posts:668 Points:1,466,650 Joined:Aug 2004	Message Posted: Feb 4, 2013 2:19:14 PM Ignore TimTim Report Abuse ok.
seahawks Champion Author Washington Posts:3,321 Points:1,984,050 Joined:Sep 2005	Message Posted: Feb 4, 2013 2:18:54 PM Ignore seahawks Report Abuse lets break Americans!!!
myambro Champion Author Sacramento Posts:3,257 Points:1,075,110 Joined:Mar 2005	Message Posted: Feb 4, 2013 2:18:43 PM Ignore myambro Report Abuse Darn Politicians! Of any party.
starfighter08 Champion Author Illinois Posts:1,342 Points:368,130 Joined:Sep 2008	Message Posted: Feb 4, 2013 2:18:30 PM Ignore starfighter08 Report Abuse This is all BS. The Elites are not going to be satisfied until all the little people are crammed into crowded, crime ridden cities, while they have the rest of the world for their personal use. Google "Georgia Guidestones" and read what is set in stone regarding the plans of the elites. Pay attention to #1 then use your imagination as to how they plan to achieve it.
ntass1 Champion Author Edmonton Posts:3,930 Points:754,750 Joined:May 2011	Message Posted: Feb 4, 2013 2:18:27 PM Ignore ntass1 Report Abuse the reasoning changes day to day that what makes a market.
dylan126 Champion Author Cleveland Posts:4,568 Points:621,095 Joined:Sep 2011	Message Posted: Feb 4, 2013 2:13:32 PM Ignore dylan126 Report Abuse ok
pulpwood Champion Author Mississippi Posts:7,379 Points:1,860,855 Joined:Sep 2006	Message Posted: Feb 4, 2013 2:12:43 PM Ignore pulpwood Report Abuse ditto dudleydolittle
dudleydolittle Champion Author Cleveland Posts:4,568 Points:617,170 Joined:Sep 2011	Message Posted: Feb 4, 2013 2:11:35 PM Ignore dudleydolittle Report Abuse ok
RichFWA Champion Author Tacoma Posts:1,244 Points:306,375 Joined:Mar 2011	Message Posted: Feb 4, 2013 2:11:29 PM Ignore RichFWA Report Abuse I want gas prices to go down not up. Totally frustrated with gas prices anymore.
Insuremn Champion Author Twin Cities Posts:5,087 Points:1,057,435 Joined:May 2010	Message Posted: Feb 4, 2013 2:10:01 PM Ignore Insuremn Report Abuse The dollar is up today.
wulf2000 Champion Author Miami Posts:3,156 Points:1,411,580 Joined:May 2005	Message Posted: Feb 4, 2013 2:09:02 PM Ignore wulf2000 Report Abuse The economy is in the crapper for the last 5 years.
arcaneradio Champion Author Michigan Posts:2,641 Points:513,965 Joined:Dec 2010	Message Posted: Feb 4, 2013 2:08:07 PM Ignore arcaneradio Report Abuse The fiscal cliff is fabricated. Remember when the government shut down during the Clinton years? Scare tactics
Kawibiker Champion Author Illinois Posts:1,221 Points:215,465 Joined:May 2012	Message Posted: Feb 4, 2013 2:06:56 PM Ignore Kawibiker Report Abuse Divebomber has it rite on..
jodybull All-Star Author El Paso Posts:767 Points:140,880 Joined:May 2012	Message Posted: Feb 4, 2013 2:06:42 PM Ignore jodybull Report Abuse Where is this b.s. imaginary "fiscal cliff?" I wanna see it! Maybe I'll creep on my belly up to the edge and look over!
divebomber Champion Author Nebraska Posts:6,213 Points:1,839,000 Joined:Jun 2007	Message Posted: Feb 4, 2013 2:05:14 PM Ignore divebomber Report Abuse NOW THAT B.O. IS RE-ELECTED WERE IN FOR ANOTHER UGLY FOUR YEARS!
11SilveradoMN Champion Author Minnesota Posts:1,228 Points:351,070 Joined:Aug 2011	Message Posted: Feb 4, 2013 2:04:36 PM Ignore 11SilveradoMN Report Abuse No suprise here!
PithyOpiner Champion Author Stockton Posts:16,389 Points:1,623,295 Joined:Jun 2008	Message Posted: Feb 4, 2013 2:02:51 PM Ignore PithyOpiner Report Abuse But, but....I'm all for "more defense department cuts and across the board cuts to every segment of the federal government." Wha' chew you talkin' 'bout, Willis? [Edited by: PithyOpiner at 2/4/2013 2:03:21 PM EST]
wshutton Champion Author Los Angeles Posts:1,805 Points:951,650 Joined:Mar 2009	Message Posted: Feb 4, 2013 2:01:10 PM Ignore wshutton Report Abuse They forgot to add: "Republican Speculators Profit" to their headline.
highdesertman Champion Author Albuquerque Posts:2,623 Points:1,743,830 Joined:Mar 2005	Message Posted: Feb 4, 2013 2:00:50 PM Ignore highdesertman Report Abuse A strong dollar might make oil prices a little cheaper but will result in a resumption of the migration of U.S. jobs overseas. There is no perfect solution that won't result in a corresponding negative impact.
lunarrv15 Champion Author Cincinnati Posts:15,055 Points:2,409,110 Joined:Dec 2005	Message Posted: Feb 4, 2013 1:59:23 PM Ignore lunarrv15 Report Abuse okay...interesting thanks for posting on GB blog
sivart Champion Author Arkansas Posts:18,387 Points:3,097,500 Joined:May 2004	Message Posted: Feb 4, 2013 1:59:17 PM Ignore sivart Report Abuse Speculators and big oil are the reason!!!
suportoffroad00 Champion Author Wisconsin Posts:1,063 Points:1,208,295 Joined:Aug 2007	Message Posted: Feb 4, 2013 1:57:40 PM Ignore suportoffroad00 Report Abuse Who's got the money? Not me that's for sure.
yakstar Champion Author Montreal Posts:2,550 Points:506,250 Joined:Jan 2012	Message Posted: Feb 4, 2013 1:56:51 PM Ignore yakstar Report Abuse WHO'S GOT THE MONEY?
dougtaylor1 Champion Author Phoenix Posts:1,781 Points:457,150 Joined:Jun 2011	Message Posted: Feb 4, 2013 1:54:51 PM Ignore dougtaylor1 Report Abuse It only "appeared" to be an economy gaining steam if you were listening to the media and obumer. There has been no economic recovery and there is major inflation that just hasn't been reported yet, all thanks to Quantitative Easing and a government who's spending is out of control. One more thing. The sequestration is not going to prevent obumer from spending money.
bigLtowing Champion Author Columbus Posts:2,974 Points:619,290 Joined:Aug 2011	Message Posted: Feb 4, 2013 1:53:15 PM Ignore bigLtowing Report Abuse the economy is going down quick
DeeLA Champion Author Los Angeles Posts:4,954 Points:1,391,955 Joined:Nov 2008	Message Posted: Feb 4, 2013 1:51:47 PM Ignore DeeLA Report Abuse Gas prices here are already up 40-cents per gallon since Jan. 12.
Lologogo Champion Author Twin Cities Posts:1,380 Points:369,465 Joined:Sep 2011	Message Posted: Feb 4, 2013 1:50:41 PM Ignore Lologogo Report Abuse this is not good.
pecos Champion Author Columbus Posts:7,799 Points:2,131,040 Joined:Jul 2005	Message Posted: Feb 4, 2013 1:50:28 PM Ignore pecos Report Abuse Prices are sky high.
CatMan623 Champion Author Houston Posts:16,549 Points:2,370,295 Joined:Aug 2006	Message Posted: Feb 4, 2013 1:47:07 PM Ignore CatMan623 Report Abuse Best to get your "hand-baskets" ready, folks...
gasman50 Champion Author Portland Posts:8,978 Points:2,436,190 Joined:Nov 2005	Message Posted: Feb 4, 2013 1:45:48 PM Ignore gasman50 Report Abuse the economy isn't that good.......
OKRifle Champion Author Oklahoma City Posts:10,577 Points:1,837,010 Joined:Oct 2007	Message Posted: Feb 4, 2013 1:45:38 PM Ignore OKRifle Report Abuse How is that change working out for you now?
Zackny Veteran Author New York Posts:402 Points:78,905 Joined:Jan 2013	Message Posted: Feb 4, 2013 1:43:14 PM Ignore Zackny Report Abuse C'MON man what is this
nascar9 All-Star Author Tacoma Posts:990 Points:552,985 Joined:May 2008	Message Posted: Feb 4, 2013 1:42:07 PM Ignore nascar9 Report Abuse This is a great economy isn't it?
Cheepo Champion Author Tampa Posts:9,989 Points:3,147,905 Joined:Apr 2003	Message Posted: Feb 4, 2013 1:41:34 PM Ignore Cheepo Report Abuse Thank you barrack hussein!!!!!!!
alcrawler Rookie Author Illinois Posts:14 Points:37,855 Joined:Jan 2013	Message Posted: Feb 4, 2013 1:41:26 PM Ignore alcrawler Report Abuse I've been trying to figure out why the dollar is weaker in Illinois than in the rest of the country, when it comes to gas prices.
Fhuang66 Champion Author Cleveland Posts:1,376 Points:936,840 Joined:Oct 2005	Message Posted: Feb 4, 2013 1:41:18 PM Ignore Fhuang66 Report Abuse Head toward resession ????