Continued

The trend continues. No real surprise, except perhaps that efforts to obstruct any real progress by avoiding jobs bills and by other general deficit hawkery haven't quite managed to interrupt the all-too-gradual recovery ... at least so far.

It's not for lack of trying.

That there's more or less a picture of our current fiscal contraction. The reduction in Real Government Consumption Expenditures and Gross Investment drains the life out of our recovery, making it tepid at best. And if our recovery halts before we make a dent in our output gap, that's the obvious main culprit right there.