Budget cuts eat into U.S. economic growth

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By Jason Lange WASHINGTON (Reuters) - A drop in government spending dragged more on the U.S. economy than initially thought in the first three months of the year, a sign of increasing pain from Washington's austerity drive. Another report on Thursday showed the number of new jobless claims rose last week, and together the data reinforced the view that the U.S. economy may be entering yet another soft patch. Gross domestic product, a measure of the country's total economic output, expanded at a 2. ...




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