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State and local government spending contracted at a 3.9 percent rate, the largest decline since the second quarter of 1981.

In 2009 while businesses were trimming their costs, governments continued their spending binge because of the "shovel ready" stimulus. States and cities are in trouble and must shed jobs. If there is no double dip, then the economy will grow only at a very anemic pace, as this data is showing.

1 posted on 05/27/2010 7:05:24 AM PDT by mlocher
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To: mlocher

Gee, I’m shocked.


2 posted on 05/27/2010 7:07:39 AM PDT by Obadiah (I can see November from my house!)
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To: mlocher

ready now....1,2,3 ..”unexpected”....children..with a bottle of whiskey...keys to the Mustang etc....


3 posted on 05/27/2010 7:08:47 AM PDT by mo
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To: mlocher

We are in a depression and all of this is just satanic lies to lull the dying to sleep.

LLS


4 posted on 05/27/2010 7:13:03 AM PDT by LibLieSlayer ( WOLVERINES!)
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To: mlocher
***UNEXPECTED***
5 posted on 05/27/2010 7:58:37 AM PDT by Nervous Tick (Eat more spinach! Make Green Jobs for America!)
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To: mlocher

Typical Obama propaganda, and one we noted months back that he would do: Say something is great when everyone is watching then revise it to not so great when every is not looking.

Obama is a lair.


6 posted on 05/27/2010 11:27:56 AM PDT by CodeToad
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To: mlocher
The economy grew at a slower pace than previously estimated in the first quarter as business investment slackened, while hard-hit state and local governments reduced spending at the steepest rate since 1981.

The facts..... expected!!!

9 posted on 06/25/2010 7:45:04 AM PDT by Stand Watch Listen (It's the 'Land of Opportunity'... NOT... the 'Land of Entitlements'!!!)
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