Thread: Economy Doesn't Buy the White House's Spin That Obamacare is Better for It

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It's Almost Like the U.S. Economy Doesn't Buy the White House's Spin That Obamacare is Better for It

When the numbers are as bad as they were before the "recovery," it's reality check...
ijreview.com

It’s Almost Like the U.S. Economy Doesn’t Buy the White House’s Spin That Obamacare is Better for It

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By Mike Miller 9 hours ago



[Video above: White House Press Conference, April 30, 2014]
As reported by The Wall Street Journal Wednesday, the U.S. economy shrank even more in the first quarter than previously estimated, marking its sharpest contraction since the recession (supposedly) ended five years ago:

Gross domestic product, the broadest measure of goods and services produced across the economy, contracted at a seasonally adjusted annual rate of 2.9% in the first three months of the year, according to the Commerce Department’s third reading released Wednesday.

That was the fastest rate of decline since the first quarter of 2009, when output fell 5.9%. Commerce had previously estimated output fell by 1% in the first quarter.

No problem, right? Data and statistics are often adjusted upon later review.
But comparing and contrasting the Commerce Department report with the White House’s claim – less than two months ago – that ObamaCare (yeah, ObamaCare) prevented a GDP contraction in the first quarter yields very different results.
Not that Jay Carney, or Huffington Post for that matter, would ever try to spin things by making the same claim…


Facts are stubborn things. Especially when they conflict with political narratives.
The reality is this: Setting aside the debacle that is ObamaCare, this president’s economic policy – Obamanomics, as it were – has been an abject failure to date.
From his futile multibillion dollar “stimulus” plan, to multiple tax increases, to a dramatic (and purposeful) increase in the number of Americans on government assistance, Barack Obama has been a disaster for the American economy.

http://www.ijreview.com/2014/06/1507...-quarter-much/

HOPE AND CHANGE UPDATE: Economy Tanked Much Worse in First Quarter Than Originally Reported

June 25, 2014 By TPNN Staff

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In what will be viewed as further evidence that Obamanomics is smothering the U.S. economy, the Commerce Department said on Wednesday that the first quarter GDP (Gross Domestic Product)) declined by a whopping 2.9%.

The 2.9% decline, the worse economic contraction in five years, was revised downward from the infinitesimal .0.1 percent growth originally reported in April. An earlier revision following the April release showed a revised decline of 1.0%.

“It’s clear the White House doesn’t know which way is up, just two months ago bragging that Obamacare was helping the economy and now we’re seeing the worst economic report since the low point of the recession in 2009,”” Republican National Committee Chairman Reince Priebus said in a statement.

“The Republican House has sent Harry Reid and Democrats in the Senate dozens of bills to help jump start our economy and it’s time they stop standing in the way,” he added.

The Commerce Department said that the difference between the second (-1.o%) and third estimate (-2.9%), was the largest on record in 38 years.

A contraction of two straight quarters in GDP is the technical definition of an official recession.

In April, the Obama sycophants at the leftist Huffington Post tweeted that “Obamacare just saved the U.S. economy from contraction,” while Obama’s Jay Carney made the ridiculous claim that Obamacare somehow prevented a contraction in the first quarter.

Do you believe the U.S. economy is entering a recession because of “Obamanomics?” Take the Official Tea Party Poll. Click HERE!

http://www.tpnn.com/2014/06/25/hope-...ally-reported/

White House blaming ObamaCare for shrinking US economy?

Jun. 25, 2014 - 3:33 - FBN's Stuart Varney weighs in

Video at the page link:

http://video.foxnews.com/v/364171049...#sp=show-clips