Thursday, April 28, 2011

Obama official: Reduced gov't spending to blame for slowdown



The Hill reports:
A top economic aide to President Obama blamed reductions in government spending for a slowdown in U.S. economic growth in the first quarter.

Austan Goolsbee, the chairman of the Council of Economic Advisers, said that a slowdown in government spending was mostly responsible for the 1.8 percent growth in gross domestic product (GDP) between January and March, down from 3.1 in the fourth quarter of 2010.

Statists often say this.