Skip to comments.Republicans rip White House over finger pointing in wake of dismal GDP report (Truth hurts)
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.
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