Reality Bites: Obama Economy Shrinks
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President Obama and the sycophants in the media can distract the masses with issues like gun control and immigration reform, but the real issue most Americans are concerned with is the economy.
Why do you think we’re not talking about that?
Because it doesn’t look good for Obama:
The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.
The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That’s a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
The surprise contraction could raise fears about the economy’s ability to handle tax increases that took effect in January and looming spending cuts.
Except by those who understand the language of Milton Friedman and Frederich Hayek.
There’re probably legions of Keynesians scratching their heads in confusion. I’m sure they’ll find a way to blame Bush for this.
Or point to something shiny to distract the drones.