Economy Declines For First Time Since 2009

, Posted: Wed, January 30 2013 at 8:10 AM, Updated: Wed, January 30 2013 at 8:16 AM

A report just released reveals the US economy declined for the first time since the 2007 to 2009 recession. The Commerce Department says the economy contracted at an annual rate of 0.1 percent in the fourth quarter.

That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.

 

Americans are also coming to grips with an increase in social security taxes that has begun to leave them with less take-home pay.

 

 

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