Imagine what the left wing media would be writing and crying about if George W. Bush was still the President and offered up this kind of pitiful economic outcome:
The US economy shrank 0.1 per cent at an annualised rate in the fourth quarter of 2012, the first contraction in three years, rattling financial markets and highlighting the danger of across-the-board federal spending cuts due in March.
Much of the fall in gross domestic product was due to a big reversal in business inventories and a plunge in federal defence spending which each knocked 1.3 percentage points off growth. That suggests the broader economy remains on a weak but stable growth path of 1 or 2 per cent.
Oh wait. Obama and his team accept blame for nothing. Nope, despite controlling the White House and the Senate the main culprits for the terrible, weak, faltering economy is?
Until Barack Obama understands that higher taxes, undisciplined Federal spending and a socialist world are lethal to economic growth, he will continue to preside of an economy unable to re-employ the millions who lost their jobs during the 2008 downturn.