Daily Digit: 15% Drop in Govt Spending

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The Daily Digit today is 15%. U.S. federal government spending plunged 15% in the fourth quarter of 2012, and vastly contributed to the first contraction in the U.S. economy since the 2007-09 recession. A massive cutback in defense spending was the biggest culprit - suffering its deepest plunge since the 1970s.