In the summer of 2011, propaganda minister Jay Carney announced the economy was “vastly improved”. Now the pm says that it’s the Republicans’ fault the economy is on death watch.
Gross domestic product fell at a 0.1 percent annual rate in the fourth quarter, the Commerce Department said Wednesday, far below the 1.1 percent gain that analysts had forecast.
Second to the decline in defense spending:
A drop in business inventories was the second major drag on growth. Firms drew down their inventories by more than $40 billion, which subtracted 1.25 percentage points from GDP growth. With companies focusing on selling goods already sitting on their store shelves and in their warehouses, production in the nation’s farms and factories was not as high as one might expect given consumer and business spending.
Still, there are reasons for concern in 2013: While consumer spending held up in the final months of 2012, that was before the payroll tax break expired in January, siphoning income from workers’ paychecks. And if negotiations over the sequester force steep cuts in defense and other government spending in the months ahead, GDP could suffer a steeper decline.
Never fear, Jay Carney to the rescue with an explanation.
So the progressives who want to cut defense spending are blaming it on a cut in defense spending, which in turn they blame on those rascal republicans for the numbers. The cuts in defense spending?…. those Republicans in Congress, again. Then he shifts the blame train into hyperdrive:
“Our economy is facing major headwinds, and that’s Republicans in Congress,” the artful Carney said.
At this rate, the propaganda dept of the White House will never run out of work.