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federal austerity programs dragging an otherwise private economy. government is actually doing harm to this recovery. that, to me, is the key story. how so? what we have is government austerity done very direct things, cut back on government spending shaved growth off gdp to a growth of .10% and expiration of unemployment benefits and expiration of the payroll tax cut, which has cut overall economic growth. if you take those things into account, if those things had not occurred, we d have about 4 million more jobs in the economy right now. austerity at the state and federal level has basically caused about half of the jobs gap that we have right now. that, to me, is the key story. matt, i want to bring you in here. we got this news double what we expected. we expected maybe .9%. a lot of people all of us want to have cause for celebration and all want to feel like the economy is turning

Government spendingPayroll tax cutGrowth ofUnemployment benefitsJobs gap4 millionNews doubleMatt mccall