Here is a link on a reading of the latest economic numbers, written by Prof. Thoma.
He breaks down the economy, and the latest GDP growth numbers. And he explains it in a fashion most Teabaggers can understand.
The most important paragraph is:
That leaves government spending. However, these numbers are moving in the wrong direction, and that is unlikely to change given the emphasis on reducing the long-run budget problem. In fact, premature austerity -- cutting spending before the economy is ready for it -- is taking a toll on the recovery. The fall in government spending reduced fourth-quarter growth by 0.93 percent; if government spending had remained constant, GDP growth would have been 3.7 percent, rather than 2.8 percent.
If you cut spending, you contract the economy. In the rebound from the worst recession in 80 years, austerity is not a smart play. But We had us some real gol' darned teapartiers, and theys cut at the Feds, and theys cut at the states, and theys cut at the local level.
And now they're policies are retarding growth, by 0.93% in the 4th quarter. Thanks, conservatives for wrecking the world economy.