Shrinking Economy? The GOP Built That
January 30, 2013 - 11:36 am
Today’s dismal GDP report has put Democrats and their media allies into a furious spin cycle. Economists had expected a slight uptick in the economy of just over 1% growth. Instead, the Commerce Department reported that GDP in the 4th Quarter shrank by 0.1%. The left is attributing the surprise contraction to quirks in the data and a slowdown in government spending. Beyond just explaining away an inconvenient truth about the economy, they are trying to lay the groundwork to blame the GOP for automatic spending cuts set to take effect in March.
Never mind that the sequester was a bargaining ploy from Obama, Himself.
Also never mind that the sequester hasn’t even gone into effect.
Also also never mind that even if the sequester should go into effect, it will only reduce the deficit by maybe ten percent over ten years — hardly the end of the world.
The fact is, demand-side stimulus hasn’t gotten us out of this mess, not after four years, six trillion in new debt, and trillions more in money-printing by the Fed.