Wednesday, January 30, 2013
Yesterday, Breitbart News reported that consumer confidence had dropped to its lowest level in almost two years. Much of the media spun the number as the result of a payroll tax increase that hit millions who were repeatedly told by Obama that only the rich would see their taxes increase. Surprise! But the spin didn’t explain why consumer confidence had steadily dropped during the months prior. Well, now we know: The American economy has taken a nosedive.
For the first time in over three years, the U.S. Gross Domestic Product shrank. Between October and December of 2012, the GDP had a negative growth of 0.1. And let’s remember that this is the same quarter where we saw the media go into hyper-drive to spin Obama’s anemic job and GDP growth into a repeat of the Roaring Twenties.
The problem with the American economy is that Obama and his media can’t fool it. Happy talk and spin and distractions about contraception don’t create jobs or growth. You might be able to fool legions of people into voting a certain way, but you can’t fool them into spending and hiring and investing.