Democrats: Best looking Economic Contraction you'll ever see
Posted: Wed Jan 30, 2013 5:32 pm
In response to the news today that the economy contracted -.1 percent in the final quarter of last year, Democrats are touting the claim that this is "the best-looking contraction in U.S. GDP you'll ever see." The claim was originally made by chief U.S. economist for Capital Economics Paul Ashworth.
"The drag from defense spending and inventories is a one-off. The rest of the report is all encouraging," Ashworth also claimed.
The claim was quickly seized upon by Democrats, looking to share good news about a contracting economy.
http://www.weeklystandard.com/blogs/dems-tout-claim-best-looking-contraction-us-gdp-youll-ever-see_698863.html
Defense? B.S.!
That's like calling a tax hike a temporary refund adjustment.