GDP growth misses expectations: Is Washington to blame?

The less-than-stellar economic growth comes in the wake of significant tax hikes and spending cuts

Even with the biggest increase in consumer spending, the U.S. economy falls short.
(Image credit: Peter Macdiarmid/Getty Images)

The U.S. economy picked up a little steam in the first quarter of 2013, but that growth still fell short of expectations.

Gross domestic product rose at a 2.5 percent annual rate in the first three months of the year, according to a Commerce Department report released Friday. However, economists had been predicting a 3 percent gain, raising concerns that economic growth could taper off as the year goes on and new federal policies take hold.

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Jon Terbush

Jon Terbush is an associate editor at TheWeek.com covering politics, sports, and other things he finds interesting. He has previously written for Talking Points Memo, Raw Story, and Business Insider.