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Krauthammer On Lousy GDP Number: Obama Used To Blame Bush, Now He’s Blaming The Clima

Discussion in 'News & Current Events' started by Revmitchell, Jun 27, 2014.

  1. Revmitchell

    Revmitchell Well-Known Member
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    In case you missed the news, first quarter GDP for the U.S. economy was revised sharply downward to an astonishingly sucky number of -2.9%. That means, essentially, that our nation is half way to a recession, which is two consecutive quarters of negative economic growth.

    The Obama administration and its loyal lapdogs in the press have an excuse for that horrible GDP report: the weather. Apparently, it was just so cold in the winter and/or there was so much snow and ice on the ground that a three-month period that should have showed positive economic growth instead became a contraction.

    Last night on Special Report, Charles Krauthammer was having none of that.

    “The administration can come up with all the excuses it wants,” Krauthammer said. “You know, the weather. You know, as if you think you never have bad weather in winter. In the first term, the administration would blame everything on Bush, and now it’s on climate. If we keep up global warming, in these winters we’re going to freeze to death in the northeast.”

    “This is obviously a result of an administration, five years of policies which are high taxation, high regulation, high spending, and high debt,” he said.

    [video]

    http://downtrend.com/brian-carey/kr...imate/?utm_source=dlvr.it&utm_medium=facebook
     
  2. InTheLight

    InTheLight Well-Known Member
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    I love Charles Krauthammer but the vast majority of economists DO blame the weather for the lousy numbers. That said, -2.9% GDP can't solely be explained away on the weather. Let's see what happens in Q2. I'm predicting 3.0% to 3.3% growth.
     
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