Well, if the last 7 years of economic developments are any guide, owebuma hasn't solved anything either.
In fact the evidence is strong he's made it much worse...
In the Wednesday edition of bias by omission, five of the English and Spanish network evening newscasts again refused to report on a troubling sign for the U.S. economy while all six omitted any mention of a new development in the IRS scandal.
After completely ignoring the story all together Wednesday morning, the CBS Evening News stepped up to mention that the U.S. economy has screeched to a grinding halt with a measly 0.2 percent growth in gross domestic product (GDP) for the first quarter of 2015.
However, only 20 seconds was devoted to the news with the following brief from anchor Scott Pelley:
The U.S. economy came to a near halt in the first three months of this year. The Commerce Department told us today that growth in the first quarter was 0.2 percent. In the previous quarter, it was a moderate 2.2. Bad weather is blamed, but in light of this, an increase in interest rates will likely be delayed.
The Wall Street Journal further elaborated on the Federal Reserve’s reaction to this troubling statistic in an article published late Wednesday:
The economy’s sharp first-quarter slowdown is giving Federal Reserve officials pause.
The nation’s central bank pointed to cooling economic activity and reduced job-market gains in its policy statement Wednesday, underscoring uncertainty among officials about when the economy will rebound and clouding the timing of when they will begin to raise interest rates.
(....)
Still, they want firm evidence the economy is stronger before they start lifting their benchmark short-term interest rate, which has been near zero since December 2008.
Bad weather, cheaper oil, disruptions at West Coast ports and the stronger dollar appear to be at least partly behind the downturn.
In the first three months of the year, consumers showed signs of caution about spending, businesses slashed investment—especially in the energy sector—and exports tumbled, marking a return to uneven growth that has been a hallmark of the nearly six-year economic expansion.
Meanwhile, all six networks continued to censor for a second straight news cycle the latest in the scandal involving the IRS’s targeting of conservative groups as it was revealed that roughly 6,500 e-mails belonging to Lois Lerner were recovered after having previously thought to have been lost.
While the networks showed no interest in this story, the Fox News Channel’s Special Report with Bret Baier offered a full segment on the topic during its Wednesday broadcast.
Correspondent Doug McKelway explained, in part, the new details during the one-minute-and-59-second report:
The new Lois Lerner e-mails, 6,500 e-mails in all, are being turned over to House and Senate investigating committees this week.
They are a subset, minus duplicates, of an unexpected trove of 32,000 Lerner e-mails found by inspector general investigators, or TIGTA, in back-up disks at the IRS’s data facility in Martinsburg, West Virginia.
Back-up disks that the IRS Commissioner, John Koskinen, said did not exist when he testified last June.
As the Treasury Department’s Inspector General deciphers what was written in Lerner’s e-mails, one will have to see if the English and Spanish networks even mention it.
full article...
http://newsbusters.org/blogs/curtis-houck/2015/04/30/abc-nbc-continue-dodge-bad-news-economy-nets-again-skip-recovered-irs#sthash.QjqjNJV5.dpuf
The last reported GDP is so paltry it's worse than anemic.
Any GDP less than 2% will not outpace inflation which will have the effect of decreasing incomes and wealth, and inflating the cost of living.
Not to mention nearly every reported GDP since owebuma has been in office has been revised downward.
There is no reason to believe that this most current reported GDP won't be downgraded either.
