Best. Economic. Contraction. Ever.

Posted by on Jan 31, 2013 at 9:18 am

Shocked by the unexpected news Obama’s supporters couldn’t decide how best to respond. Democratic Party Communications Director Brad Woodhouse tried to find a silver lining in the report, tweeting out one economists claim that this was “The best-looking contraction in U.S. GDP you’ll ever see.” Ashworth, and many other liberals, noted that while the private sector economy actually added 1.2 percent to economic growth, a huge reduction in defense spending led shrank the economy by 1.3 percent. Never mind the fact that even 1.2 percent is far from the levels of economic growth needed to sustain the federal government surging entitlement spending obligations.

Later in the day, White House Press Secretary Jay Carney minced no words about who was to blame for this “best-looking contraction,” telling the White House press corps: “Our economy is facing a major headwind, which goes to your point, and that’s Republicans in Congress. Talk about letting the sequester kick in as though that were an acceptable thing belies where Republicans were on this issue not that long ago, and it makes clear again that this is sort of political brinksmanship of the kind that results in one primary victim, and that’s American taxpayers, the American middle class.”

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