Posted on 01/30/2013 5:26:56 PM PST by Kaslin
Republicans accused the White House of having selective amnesia Wednesday after President Obama's top spokesman blamed Republicans for an unexpectedly dismal GDP report that showed the economy contracting in the fourth quarter. The White House had suggested GOP willingness to let sweeping defense cuts take effect was the culprit -- but an aide to House Speaker John Boehner quickly reminded Democrats that Republicans have tried to stop those cuts.
"These arbitrary, automatic cuts were a creation and demand of the White House in 2011," Boehner spokesman Brendan Buck said. "Twice the House has passed legislation to replace them with common sense cuts and reforms. If there was any uncertainty late last year about the sequester, it was because the Democratic-controlled Senate, per usual, never lifted a finger to pass a plan to replace it."
White House Press Secretary Jay Carney and House Democratic Leader Nancy Pelosi earlier alleged that GOP feet-dragging during talks over the fiscal crisis and willingness to accept automatic defense cuts contributed to the economic squeeze. The Commerce Department report showed the economy shrinking for the first time since 2009.
(Excerpt) Read more at foxnews.com ...
Of course the state run media went into full spin mode immediately.
“Drop in Gov’t spending” HELLO...Fed Gov’t spent $30 BILLION more in 4th quarter 2012 than the prior year.
It won’t be long now....
You should have heard what Shep Smith said. He said something like that it was a surprise
Barry and the ‘RATS can continue blaming somebody else for everything. However, the commie lib ‘RATS OWN this failed economy. Bush has been gone for over 4 years. YOU own it ‘RATS!
The third quarter GDP report claimed an unbelievably large increase of 3.1%, which was used as evidence of Obama’s alleged economic success. If that last report before the election was for whatever reason inflated, then it would make sense that at least the 4th quarter report would come in “unexpectedly” low (with any economic growth having already been reported just in time for the final campaign push). I’m wondering if the economic reports are as fraudulent as everything else from our community-organizer-in-chief, a composite of real jobs growth and expected eventual improvements.
It's the new media word. Before the election results like this were referred to as "unexpected".
You would have expected that the increased sales in weapons and ammunition would have boosted the economy.
A spark of fight! Well said by the Speakers aide. Just tell the truth about the dims.
It tells me the same thing, but it doesn't tell me where they expect economic growth. I'd bet on the BRICs or on Japan finally getting out of its long-term slump (or at least fully out of its post-Tsunami recession -- already signs of that with Toyota back ahead of GM as top auto manufacturuer) before I'd bet on the U.S. while Obama's in office.
Regardless of how long Bush has been out of office, they own this failed economy because they took every aspect of Bush’s economy (which was a big-spending, big-government, failed economy) and put it on steroids.
The only significant break they’ve made with Bush’s economic policies was allowing the Bush tax cuts to expire (which was one of the greatest aspects of Bush’s economy). This will prove to be sand in the gears of the machine that is already failing.
In short, they own this failed economy because it is deficit spending, central management, regulatory excess, and high taxes (in other words...SOCIALISM) that has caused the failure of this economy.
The key words being "unbelievably large". The purported growth was unbelievable because it was the result of cooked books and was, in no way, real.
It isn’t the case that every commodity bubble indicates future industrial demand.
And it isn’t the case that every stock market bubble indicates future increase in earnings LOL
The ‘price forecasting growth’ model is a bunch of hooey.
No thanks. I don’t watch TV news. In fact I hardly follow the news like I used to and my stress level is way down.
I guess it’s also partly due to the fact that we are so far down the tubes that I know there’s no turning back. I’m just chuckling at the spin telling us it’s raining when they’re just pissing on the proles.
I’m betting on worldwide economic growth..not anything spectacular but I don’t buy into the gold peddlers and doom and gloomers predictions of the coming crash or hyper inflation....and I’ll put my money where my mouth is.
Being a liberal means never having to say you're sorry -- for anything. It's never your fault.
The last time a Democrat administration actually took responsibility for anything was 1952.
You need to look beyond the cost of a barrel of crude having only one indicator. It is far more complicated than that (supply/demand, which countries are stockpiling, who is hoarding hoping to unload it if it goes up because they know of some governmental activity that will cause a shortage). It is also directly tied to the dollar. So if the dollar is in the tank, crude goes up, and vice-versa. If you google for a graph overlaying the value of the dollar vs. the cost of a barrel for the past 20 years, you will see an almost perfect mirror image as the rise in one results in a decline in the other.
If you want a better vanguard, keep an eye on the Baltic Dry Shipment Index. It is in the tank, because no one plans on shipping anything, because no one plans on selling anything.
I agree that just looking at one indicator is foolhardy. But making investment decisions based on ones political beliefs is equally foolhardy. I actually take lots of factors into consideration and I’m betting on slow choppy growth in the next 2-3 years..
Personal income was way up or it would have been worse, but looking at it closer it was due to people making as much investment and bonus income as they could before the tax increase. Also capital and software purchases were up as the tax benefits from depreciation rules changed in January also. Doesn’t paint a good picture for Q2.
love your name and tagline.
“Barry and the ‘RATS can continue blaming somebody else for everything. “
Why not? State-Run media has his back at every turn.
Shouldn’t the headline read?: GDP totally dependent on Government Debt
I mean the results of the cuts have reversed GDP growth. So the entire economy is faked by government overspending money it never had.
The so called Republican leadership will not fight the Donkey socialists/Marxists. Instead the RINO leadership reaches across the aisle and stabs conservatives [that make up the base] in the back. Bad enough the conservatives have to fight the MSM and Donkeys, but Quisling RINOs too.
And your point is what, exactly? What would my party do? Go to political war the with the Donkeys and RINOs. Attack them and no quarter. But I am too old and slow and crippled for this fight.
I don’t know if you realize it or not, but you are doing exactly what the rats want, which is division. No wonder we don’t win. What we need is unite, not divide
I thought Baghdad Bob was hung in Iraq several years ago. It seems he’s working as the White House spokesman...
I did a search but couldn’t find anything that he was hung or is dead. But you’re right he seems to be working as the spokesman for the arrogant pos occupant of 1600 Pennsylvania Ave. First under the name of Robert Gibbs, then and now under the name of Jay Carney
You need to take a class in searching.
Two clicks and I found him - at least if you believe Wiki.
He’s in the UAE.
http://en.wikipedia.org/wiki/Muhammad_Saeed_al-Sahhaf
The time is coming closer and closer to the this tipping point and Obongo is lusting for it because he wants to murder about 10% of the United States’ population to achieve his Marxist utopia. Have any of our brilliant Republicans figured out this guy is a Marxist? Have they figured out he wants to destroy the country with the Cloward-Piven Strategy? These political geniuses don't have a clue about the roles the communists William Marshal Davis, Saul Alinsky, and Bill Ayers have played as mentors to Dear Leader. As long as RINOs team with Donkeys and the MSM against conservatives, where's the uniting done?
I have no problem with trying to profit regardless of who is in office, but you have to be careful predicting any type of growth when the office is occupied by someone who is intentionally destroying the possibility of economic growth. And you have to be ever more vigilant if you rely on their numbers telling us that the economy is growing. The DJIA up to 14,000 has nothing to do with true economic growth and everything to do with the Fed monetizing the deb through the equities markets (not only from QE but also from the POMOs that keep taking it 100 points every time they unleash that bubble beast).
I really don’t give what the politician’s are doing much credence irregardless of party. One of my favorite predictors is this..I spend a lot of time driving and I notice the number of trucks on the road and more importantly to my system of analysis is the number of box cars side tracked for a long time the RR’s have been side tracking hundreds of box cars along the roads I usually travel and they have been in the same spot for years but in the last few months the RR’s have been putting them back in the system..I just saw a train last night pulling hundreds that I know were there for at least 2 years. This tells me the RR is expecting more demand, that coupled with oil futures, copper futures and a few other things tells me to invest at this time..I could be wrong but I trust trends like this that I can see more than I trust my political views or listening to any body with a financial stake in peddling their particular system to guide me in spending my investment dollar..YMMV
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