Today’s Big “DUH!!!” Headline

Retail sales growth slows as higher taxes kick in

To which my immediate reaction was, “DUH!!!”

Don’t forget, the economy had already CONTRACTED by -0.1% in the 4th quarter of 2012 before these higher taxes kicked in. Negative growth in 1st quarter of 2013 would mark two consecutive quarters in a row thereby meeting the definition of — a recession.


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