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Obama's Little Orphan Economy Refuses To Recover
Investor's Business Daily ^ | 05/29/2014 | IBD Staff

Posted on 05/30/2014 4:15:17 AM PDT by IBD editorial writer

Recovery: The economy "unexpectedly" contracted at an annual rate of 1% in the first three months of the year. But fear not! The prosperity that President Obama has promised for five years will be here tomorrow!

Obama's top economic adviser, Jason Furman, dismissed the news that the 1% drop was twice as big as economists had predicted just a few weeks ago. This was, he said, almost entirely due to a downward revision in the "highly volatile inventories category" and some bad winter weather in some parts of the country.

"More up-to-date data," Furman says, show that the economy "continues to recover."

The media largely parroted his talking point, quoting various economists reassuring us that there'll be strong growth come spring. CNN, for instance, headlined its story "U.S. economy shrinks, but it's not a big deal."

We'd be somewhat inclined to buy into this happy talk if we hadn't heard this ad infinitum since Obama took office.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: economy; obama; recovery

1 posted on 05/30/2014 4:15:17 AM PDT by IBD editorial writer
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To: IBD editorial writer

We are so screwed, when all this PRINTING of $$ finally comes home to roost. . .


2 posted on 05/30/2014 4:23:24 AM PDT by DeaconRed (Deodorant and Common sense. The ones who need it most don't use it. . . . .)
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To: IBD editorial writer

We will soon see the administration spin-meisters claiming that negative economic growth is a good thing.

Like how they told us that Obamacare ends Job Lock and receiving unemployment benefits is really a good thing because it is a way of stimulating the economy.


3 posted on 05/30/2014 4:30:32 AM PDT by Iron Munro (Black skin has morphed into Teflon.)
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To: IBD editorial writer

April numbers include a $10B order for submarines. So, nobody is actually buying anything but, hey, look at those April numbers!


4 posted on 05/30/2014 4:58:12 AM PDT by Excellence (Marine mom since April 11, 2014)
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To: Iron Munro

“negative economic growth is a good thing”

Our county just approved a medical marijuana pot farm in its TIF district citing it is a new growth industry.


5 posted on 05/30/2014 5:00:59 AM PDT by stars & stripes forever (Blessed is the nation whose God is the Lord.)
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To: IBD editorial writer

” - - - Obama’s top economic adviser, Jason Furman, dismissed the news - - - “

Duh, isn’t that what we call DENIAL ?


6 posted on 05/30/2014 5:07:04 AM PDT by Graewoulf (Democrats' Obamacare Socialist Health Insur. Tax violates U.S. Constitution AND Anti-Trust Law.)
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To: IBD editorial writer

If we’re not careful here, we’ll soon find out that Bush was responsible for THREE recessions: The one that started while Clinton was still president, called “The Bush Recession (1)”, The one that started because Obama was elected president, called “The Bush Recession (2)”; now this one, “The Bush Recession (3)”.


7 posted on 05/30/2014 6:02:34 AM PDT by norwaypinesavage (The Stone Age didn’t end because we ran out of stones)
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To: IBD editorial writer

Well, ya have to realize that 0bama inherited a bad economy....you may have already heard that.

At this point, the economists say the economic activity for the 2nd quarter isn’t look very good either. However, I have every confidence that 0bama’s Dept. of Fixers and Fudgers will be able conjure up a positive 2nd qtr. GDP report.


8 posted on 05/30/2014 8:35:27 AM PDT by citizen (There is always free government cheese in the mouse trap.....https://twitter.com/kracker0)
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To: IBD editorial writer

Recovery for Wall $treet but not Main Street.

Still haven’t seen that phrase in the MSM.....


9 posted on 05/30/2014 8:37:03 AM PDT by nascarnation (Toxic Baraq Syndrome: hopefully infecting a Dem candidate near you)
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