In the wake of Wednesday's news that the economy contracted slightly in the last three months of 2012, Senate Majority Leader Harry Reid laid the blame on budget cuts. "The economy was rejecting the austerity and brinksmanship," he said.

That theme — that spending cuts are putting economic growth at risk — has been gaining traction these days, particularly among those on the left.

Rep. Chris Van Hollen, D-Md., said the GDP drop showed that pushing "big austerity measures now will hurt the recovery." 

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