Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
Official estimates show the U.S. economy shrinking by .1% in the fourth quarter of 2012, shocking economists who believed they would see growth of at least 1%. It’s the first time the economy has contracted during a quarter since the 2009 global recession.
The decrease comes after 3.1% growth in the third quarter of the year.
Government economists placed the blame for the shrinkage on concerns about the “fiscal cliff.” The likelihood of tax increases caused business owners to hold on to capital investment dollars.
Financial experts pointed out the government neglected to report that the increase in the payroll tax due to the expiration of the tax holiday could be a heavy drag on the economy in the first quarter of 2013. A 22% cut in defense spending is also expected to drag down growth.
Consumer confidence surveys in January reported a steep decrease most likely due to the lost money in worker paychecks due to the tax increase.
