By Keith Laing – 02/02/13 06:00 AM ET
President Obama blamed the recent contraction of the U.S. economy on “bad decisions in Washington” in his weekly address.
The national economy shrank by 0.1 percent in the fourth quarter of 2012, according to figures released this week by the Commerce Department. The contraction was an unexpected reversal of months of modest economic growth since the end of the recession in mid-2009.
Obama said in his address that the dip was the fault of “bad decisions” being made in Washington.
“We began this year with economists and business leaders saying that we are poised to grow in 2013,” he said. “But this week, we also received the first estimate of America’s economic growth over the last few months. And it reminded us that bad decisions in Washington can get in the way of our economic progress.”
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