Economy’s Biggest Drag Right Now Is Government
Published: Friday, 27 Apr 2012 | 1:12 PM ET Text Size By: Jeff Cox
CNBC.com Senior Writer
Government has become its own worst enemy when it comes to the economy, with public spending putting a damper on growth that otherwise continues at a steady if unspectacular pace.
Friday’s gross domestic product report confirmed what a drag government can be: While consumer spending grew at a 2.9 percent clip, state and local governments cut back spending by 1.2 percent on an annualized basis and the federal government pulled back by 5.6 percent
Either you want the government to reign in spending or you do not, what is it going to be?