Posted on 02/02/2013 5:58:28 AM PST by Libloather
President Obama blamed the recent contraction of the U.S. economy on “bad decisions in Washington” in his weekly address.
The national economy shrank by 0.1 percent in the fourth quarter of 2012, according to figures released this week by the Commerce Department. The contraction was an unexpected reversal of months of modest economic growth since the end of the recession in mid-2009.
Obama said in his address that the dip was the fault of “bad decisions” being made in Washington.
“We began this year with economists and business leaders saying that we are poised to grow in 2013,” he said. “But this week, we also received the first estimate of America’s economic growth over the last few months. And it reminded us that bad decisions in Washington can get in the way of our economic progress.”
Obama said there were “real signs of progress” in the 2013 economic outlook, citing increases in home prices and car sales.
But he said the unexpected economic contraction showed the wisdom of his “balanced” approached to budget negotiations with Congress.
“We all agree that it’s critical to cut unnecessary spending,” Obama said. “But we can’t just cut our way to prosperity. It hasn’t worked in the past, and it won’t work today. It could slow down our recovery. It could weaken our economy. And it could cost us jobs – now, and in the future."
Obama said if Congress follows his lead on the economic decisions, “2013 can be a year of solid growth, more jobs, and higher wages.
“But that will only happen if we put a stop to self-inflicted wounds in Washington,” he warned.
“Everyone in Washington needs to focus not on politics but on what’s right for the country; on what’s right for you and your families,” Obama continued. “That’s how we’ll get our economy growing faster. That’s how we’ll strengthen our middle class. And that’s how we’ll build a country that rewards the effort and determination of every single American.”
What Did Bill Clinton Mean By “We Just Have to Slow Down Our Economy” to Fight Global Warming?
No question. One in 2008, another in 2012.
Oh, he was referring to HIS bad decisions, not AMERICA'S!
My bad.
More proof that this pResident is delusional, inept, incapable, irresponsible, pompous, narcassistic, arrogant, ,etc,etc,etc,
But we already knew that.
Unexpected, again.
"Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty. This is known as “bad luck.” -- Robert A. Heinlein
You are correct. Bad decisions by the electorate. Bad decisions in economic and foreign policy (over 20 years) by our elected officials. Bad, but purposefull ideological decisions by Obama and his minions have brought us to the point where the Government is the major driver of the America's economy. It is my opinion there is no going back to the economy of Reagan without total economic collapse and the rebirth from the ashes of America as a constitutional republic as it was intended by the Founders. Even that would be a miracle requiring Divine intervention and a benign military.
The reality is that we have made NO spending cuts. The federal budget continues to increase. We HAVE RAISED taxes. You can’t tax your way out of this mess.
Actually about 100 million bad decisions made by voters over the last 2 elections...
Our President is a complete fool...
Not able to blame his predecessor anymore since in this case it would be the one who occupied the Oval Office since Jan 2009.
And skittle poops for every one (i.e. every one of HIS PEOPLE, the rest of us, tough! He Won!).
Yo, this is not campaigning any more, you freak!
“But we can’t just cut our way to prosperity.”
Um, Yes We Can, you clueless tool!
Bump!
The blame? Maybe it's because he's an idiot..
65,899,660 bad decisions made on November 6, 2012.
65,899,660 bad decisions made on November 6, 2012.
The FIRST "Bad Decision" was electing a kenyan communist who fancies himself Dictator, followed by the morons in congress.
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