UPDATE: OBAMA BLAMES SPENDING CUTS, HURRICANE – US economy shrinks, 1st time in 3 ½ years

Wow this is some recovery Barack Obama has implemented. Not only have we been dealing with a stagnant economy over the last few years with growth numbers near 1%, but now, just a couple months after Obama’s reelection, we find out the economy is no longer growing at all. It’s shrinking!

But didn’t Colin Powell say last night that the economy is recovering? Ugh, these imbeciles.

YAHOO NEWS – The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles. The decline occurred despite faster growth in consumer spending and business investment.

The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That’s a sharp slowdown from the 3.1 percent growth rate in the July-September quarter and the first contraction since the second quarter of 2009.

Economists said the surprise decrease in the nation’s gross domestic product wasn’t as bad as it looked. The weakness was primarily the result of one-time factors. Government spending cuts and slower inventory growth subtracted a total of 2.6 percentage points from growth.


UPDATE: Here we go again with the blame game again. This time Obama is blaming a natural disaster an spending cuts. Seriously:

YAHOO NEWS – The White House on Wednesday blamed the devastation from Superstorm Sandy and disruptions from deep scheduled spending cuts for the surprise 0.1 percent drop in gross domestic product (GDP) in the fourth quarter of 2012. It was the first such contraction since early 2009 when the country was in the grips of the Great Recession.

The chairman of President Barack Obama’s Council of Economic Advisers, Alan Krueger, said in a post on the official White House blog that the bad news came “amid signs that Hurricane Sandy disrupted economic activity and Federal defense spending declined precipitously, likely due to uncertainty stemming from the sequester.”

That law will slash some $1.2 trillion in spending over 10 years by targeting domestic and defense programs with across-the-board cuts. Obama and Republicans in Congress have been starkly at odds over how best to replace the sequester with less disruptive debt-battling measures. The president has said spending cuts must be paired with tax revenue increases, something Republicans oppose.


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  • sDee

    hold your horses now!…… Colin “I’m black, but pretend I’m not” Powell told O’Really last night that the economy is doing great under President Hussein “pretend I really care about black people” Obama.

    • Don

      The brutal facts about Obama are: 1) forcing Obamacare down our throats, 2) pushing gun control against our 2nd Amendment rights, 3) wanting amnesty for millions of illegal immigrants with voting rights, 4) giving billions of American taxpayer dollars to the Muslim Brotherhood to enslave their people and bring sharia law, 5) maintaining a record high employment rate over 8% his entire time in office, 6) removing God from the public arena, 7) never having a hint of a budget in his whole term,the list goes on and on. We are being conquered by an anti-American force and with the approval of the voting majority. Our nation will get what it deserves and when they realize how it happened, it will be too late.

      • sDee

        We are where Obama was sent to put us.

      • Jazzee

        amen Don…been telling people the same thing and they stare at me……hope they don’t call me when the &*&^ hits the fan eh?????
        all you sheep that voted for obama enjoy the ride

      • RestlessLegs

        Good points, Don. I would add in the ballooning welfare state (food stamps, disability, you name it). Also, add in these ridiculously low interest rates and how they make personal saving a joke. My bank yesterday was “bragging” about an 18-month CD that will bring a return of… 0.5%. Everywhere I turn, I see a country on the brink of societal and financial collapse.

      • mike3e4r7

        Interesting how Steve Croft couldn’t find time to mention any of those things. No ‘Gotcha’ questions from him. They might have made Obama look bad.

        • Conniption Fitz

          Propaganda media

      • objective123

        Agree with everything you stated: we are facing forces (Obama, socialists, etc…) who are bad and not good for any American or person in the world. This is war gentleman and gentlewomen. Trust no one but your bible, god and guns.

      • bobemakk

        Excellent post, I agree with everything you wrote.

    • Orangeone

      Perhaps Powell failed to consult with the NAACP: “Blacks Doing Far Worse Under Obama” http://www.thegatewaypundit.com/2013/01/boom-naacp-leader-says-blacks-are-doing-far-worse-under-obama-video/

    • Jazzee

      and the GOP should be out front and center this is obama’s economy….turn the blame on him Bush has been gone for 4 yrs this is the idiot obama’s problem
      wake up GOP do and say something get a backbone

      • Conniption Fitz

        Instead, they are licking his boots.

  • Orangeone

    Economists said the surprise decrease in the nation’s gross domestic product wasn’t as bad as it looked.

    Excuses, excuses, excuses. Where are the jobs potus????? Laser broken?

    • “The weakness was primarily the result of one-time factors…”

      Yeah, one-time factors like Obama’s reelection.

      • Sober_Thinking

        Spot on…

      • Orangeone

        LOL Scoop, morning!

    • It’s Bush’s fault… still.

    • Betsey_Ross

      I love how the economists are always surprised……about anything. These idiots are always wrong.

      • NYGino

        They take the same courses in college as meteorologists do. Those who pass go on to become weathermen, those who flunk out become economists.

        • mike3e4r7


        • Orangeone

          And neither profession is worth the paper their degrees are printed on, wrong more than half the time. Heck, we have better chance of being correct rolling the dice.

          • NYGino

            ….and they’re never held accountable.

            • Orangeone

              Exactly! What’s that saying, do the same thing over and over and expect different results? Well how many watch the nightly weather forecast expecting the weatherperson to be correct?

      • Orangeone

        BTW, loving your tweets and links, posting some on Scoop!

      • mike3e4r7

        They were probably surprised and puzzled at how 2 million Cambodians were slaughtered after the Communists came to power in 1975, or the death of millions under the Soviet Union and Communist Chinese regimes. But that doesn’t sway them one bit. They’re too busy fighting the real enemy – Capitalism.

  • Tiffini

    While we lose money and purchasing power our government focuses on adding more spending. all while not passing a budget. good times.

  • WhiteGuy2

    The markets should be selling off, the fact that they are holding near 14000 is completely irrational and defies logic.

    • Tiffini

      I don’t know a lot about the stock market, but don’t you think at some point soon it will even with the fed falsely propping it up?

      • WhiteGuy2

        Yup, it will all suddenly callaps and Obamas economist will be scratching their heads wondering WTF just happened.

        • Tiffini

          I thought so. It seems unlikely to me that we have very much time left before that does happen.

    • aposematic

      My 2 cents: Never have been a gambler so small investments and getting to old to accept risk; but have taken a look because nothing else even breaks even. So, its the Fed (World consortium of Billionaire Bankers +) propping up with zero interest rates, devaluation of $, $86B/mo. purchase of US debt, and seekers of the last place to, at least for now, possiby realize any return to help offset the decline.

      • You are absolutely correct. However inflation is what it is and they won’t be able to contain that much longer.

      • Orangeone

        But he’s going to cut the deficit in half by exchanging federal land to China in exchange for the notes….just what we need.

    • Sober_Thinking

      Totally agree… how does that happen? I’m riding the wave atm… but I’m worried about when the reality crash hits. I can’t afford another 2009 on my limited protfolio.

      • Betsey_Ross

        That was a scary time and it looks like it’s time to be scared again.

    • clockwindingdown

      Where do you think the housing bailout money went, as I’m sure other so called bail out money did. The stock market does not reflect what is really going on. It is being falsely propped up.

      Remember the talk of “A managed decline of the US currency”, and “A managed decline of the US economy”?

      How about, “Under my plan the cost of energy would necessarily skyrocket” or “Under my plan 10% unemployment would become the new normal”.

    • sjmom

      My husband said it’s all the big investors buying each other’s stock to prop it up and the average investor is out of the game. Makes sense.

      • Orangeone

        Big public corporations are also feeling the DC pressure to not let stock valuations fluctuate

    • mike3e4r7

      14000 aint what it used to be. In 2009 inflation adjusted dollars, I wonder what it represents. 11000 maybe? Not sure.

    • jimmie smith

      It’s because there investing outside of this country(global market). The United States is nothing more than a door mat, just a place to hang a shingle for major corporations.

  • NYGino

    All together now folks; “What difference at this point does it make?”

    • Sober_Thinking

      Man that makes me want to spit…

      Too true… too ridiculous… and she walks right on by…

      • Orangeone

        And is given airtime by 60 Minutes to kick off her 2016 campaign, plus her 2008 campaign debts were suddenly paid in full

        • Sober_Thinking

          I responded to that but my comments got bleeped out… I’m just hanging on by a thread today…

          • NYGino

            An open thread?

            Hang tough S_T, we need you.

            • Sober_Thinking

              No… I was joking about the content being so bad that is “would have been” censored… 🙂

              • NYGino

                Ahh,”…would have been..”. The conditional future perfect progressive tense of “to be”. Gets me every time. (At least I think it is.)

                • Sober_Thinking


          • Orangeone

            Disqus was not working for me yesterday that might be part of it.

            We are all here Sober! Where’s BlueGood with the latest joke????

            • Sober_Thinking

              No… I was joking about the content being so bad that is “would have been” censored… 🙂

              • Orangeone

                Okay, just making sure….we haven’t had a BlueGood joke in a couple days to lighten things up 🙂

              • BlueGood

                Sober, Did I ever tell you about the woman I met & dated for a while??

                She was drop dead gorgeous, intelligent & witty….

                One day early in our relationship we were getting pretty close to consummating the relationship, and I noticed her tattoo.

                I was a large Sea Shell, but positioned on her inner right thigh…clearly I was surprised & curious…

                “Tat’s are okay’, says I, “but why would you get a Giant sea shell and of all places put it where it is”?

                She responded….” I think it’s really cool, and even cooler is, if you put your left ear on it, you can smell the ocean”…………….!


                • Sober_Thinking

                  Okay… that was bad. 🙂

                  Here’s one I made up… it’s not funny but I hope it’s clever…

                  Forrest Gump and Robin Hood were walking together through the woods.

                  Forrest says to Robin, “Robin, would you like some of my chocolates?”

                  Robin Hood says, “Sure would Forrest!” (Sherwood Forest)…

                  See… if I have to explain it… 🙂

                • NYGino

                  Guy walks in to a diner asks the waitress for a cup of coffee without cream. Waitress says, ” we’re all out of cream, would you take it without milk?”

                • Sober_Thinking


      • NYGino

        The media coming right out now and saying what we’ve known for a long time about being totally in Obama’s corner, admitting they use their influence to bolster him up and cover up his sins, Clinton saying her now famous line about Benghazi, Obama and Holder just skipping any part of the Constitution (which they took an oath to obey and defend) and ruling via Executive Order, a budgetless congress for 4 years; It has gotten to the point that we are not surprised at any laws being ignored and hold no hope that these criminals will be stopped or made accountable for their actions.

        Our next war may wind up being a hybrid Civic War/ Revolutionary War.

        It won’t necessarily be a North/South thing or anything to do with geographical boundaries, it will be Constitutionalism vs. Socialism, fiscal and social conservatism vs. liberalism. And it will also be a revolution against an increasingly totalitarian government, not one of the people, by the people and for the people.

        That insidious and telling phrase, “What difference at this point does it make?” might as well be the first volley in this war, effectively telling the people of the United States that you and your laws and moral codes and everything that we’ve fought for for centuries as a nation is null and void.

        There’s a new sheriff in town and he doesn’t cotton to America.

        • Sober_Thinking

          Spot on. 2 things… is it really a coincidence that “gun control” is going on now in earnest? And FNC was reporting about 30 minutes ago that there’s a growing movement in Washington to rescind the U.S. Constitution. Another coincidence?

          I hope a war doesn’t happen in this nation but with the divider-and-chief running amok and the media flying cover for him and being the wind beneath his wings… various factions sure are shaping up.

          I’m glad many people are waking up… but man, it could get ugly if 2016 doesn’t put a “W” (win – not Bush) in the Right’s column. If we don’t keep the House and win the senate as a minimum… or better yet, pull a hat trick… then things will likely get really bad.

          • Orangeone

            Anyone who makes a move to rescind the US Constitution needs to be physically removed from Congress and the WH and tossed on Alcatraz with blood soaked isles

            • Sober_Thinking

              I’m fine with physically removing them from the country. They want to remove the very bedrock of this nation? The divinely-inspired document that made the greatest nation in the world? A document that all but guarantees liberty and laws that nearly anyone can live under? Fools… they don’t know what they have until it’s gone.

  • sDee
    • Sober_Thinking

      Thanks sDee.

    • sjmom

      And all planned by the forces of darkness to deconstruct the US and its foundations of truth and righteousness……………………but God always wins.

    • Caruba pretty much nailed it and Roubini is echoing the same basic thing.

  • Baltimore_City_of_LOSERS

    Obama ,

    time for some more food stamps and welfare checks to be mailed out

    • KarinBlindo

      Obama = the Welfare President

    • sjmom

      For now, but eventually the well will run dry.

  • bjohnson55

    OK I get the shrinkage is coming from cuts in defense spending and I am trying my best to reconcile the fact that defense spending is Government spending which needs to be cut drastically across the board and the need to blame the Democrats for the shrinking economy. There will be a negative effect on the economy once cuts are made and I am willing to accept those negative hits just as long as the Government is shrinking. Now we need to see drastic cuts in entitlement spending knowing the economy will take a major hit, we will be seeing negative economic growth until the private sector recuperates from the blood sucking it has endured for such a long time. Where I am having a problem is I do not want to seem hypocritical by pounding the drum for shrinking the Government, then turn around and point the finger at Democrats for a shrinking economy when we know up front that is exactly what will happen once the Government teat is removed.

  • mike3e4r7

    These economists the article cites, who say the decline wasn’t as bad as it looked – wait till they see the results for this quarter. We are really struggling here in the part of Central Florida I live in.

    • Orangeone

      Public company retailers tend to have 1/31 as their year end date too so they won’t have earnings releases until end of March some into Mid April

  • sjmom

    I wonder how many fools will believe the WH on this? Sooner or later people are going to wake up and smell the coffee Obama has been brewing since inaugurated. Its the new “push America into the ditch” flavor the Left absolutely finds delicious. Eventually people will find out the secret ingredient is economic arsenic called socialism which has killed economies throughout the earth. Can we say Greece???

    • Orangeone

      But the takers don’t understand and don’t give a rip as long as the welfare and food stamp entitlements keep coming their way.

      • sjmom

        But the freebies will stop, they always do.

    • It’s going to be worse than Greece. It’s going to be Weimar Republic.

      • sjmom

        Now, wouldn’t that just be Obama’s cup of tea; a Hitler style govt where people would be forced to either do what he says or be exterminated? Not gonna happen!

        • Well I was technically speaking pre-Hitler and the economics of that. It was the Weimar Republic that one needed a wheel barrow full of money to buy a loaf of bread and due to that opened the door for Hitler to march in. Incidentally FDR got the bright idea of SS from General Bismarck of the Weimar Republic.

          Current country imitating Weimar is Zimbabwe that has $217 dollars left in the bank via today’s Drudge.


  • Sober_Thinking

    Obama is a flaming moron. He never accepts ANY blame and the corrupt media is all too happy to blame anyone or anything else, other than Dear Ruler.

    I’m in a doom and gloom mood today… nevermind me. We all knew this was going to happen when this monster was re-elected by the dumbmasses.

    • sjmom

      Eventually even morons learn when beat over the head hard enough for long enough. Every dog has their day and the king’s is coming when even the lapdog MSM will have to howl.

  • Is there anyone out there buying this BS from Obama?!

    • Sober_Thinking

      Lemmings mostly… they need a new cliff to run towards…

    • NYGino

      Jay Carney.

      • Ok…I should of clarified that…anyone with a brain cell? 🙂

        • NYGino

          OOh, this is a tough crowd Laurel, a tough crowd. Is this thing working? No respect, no respect at all.

    • KenInMontana

      Spending Cuts????????? What spending cuts is Zero blathering on about? Here I’ll fix it for him; “Spending Cuts”, that’s closer to reality.

      • Exactly! I think they are trading on the military cuts.

    • DCGere

      Yes, just go to HuffPo. While there are many not buying it, the loyal Kool-Aid drinkers are blaming “GOP obstructionism”…

      • I should of clarified that anyone with brain cells were required. 😉

  • “That law will slash some $1.2 trillion in spending over 10 years by targeting domestic and defense programs with across-the-board cuts. Obama and Republicans in Congress have been starkly at odds over how best to replace the sequester with less disruptive debt-battling measures. The president has said spending cuts must be paired with tax revenue increases, something Republicans oppose.”

    Uh, Obama agreed to the sequester and signed it into law. And last I checked, the GOP caved on tax hikes. Maybe not to the degree Obama wanted, but he got 3/4 of the “revenue” he would’ve had if people making as little as 200k were included.

    Besides, if we don’t allow the sequester to go through, where the hell are these cuts gonna come from? Obama and the Dems refuse to lift a finger on entitlements.

  • Larchmonter

    “It is Bush’s fault!” says the Cult Leader to lapdogs.

    Using the logic of the leader (an oxymoron), anything that happens that is negative is Bush’s fault, Rush’s fault and Fox News’ fault.

    Makes sense when you drink the Kool-Aid and kiss the buttocks of the Cult Leader.

  • TitaniumEagle

    It’s Bush’s fault.

  • Orangeone

    The White House on Wednesday blamed the devastation from Superstorm Sandy well actually spending had to increase for the clean up efforts! And let’s not forget the tens of millions spent on campaign ads, jet-setting around the country, fancing dinners, etc. That should have caused the economy to grow!

  • I would like to point out that the fourth quarter in economic terms is the Super Bowl of the economy for businesses especially retail.

    Look for there to be more unemployment since fourth quarter sets the budgets and forecasts for the entire next year.

    • Orangeone

      Retail year ends tend to be 1/31 in order to provide sufficient time for sales returns after Christmas so that adjustment will be interesting

      • Fourth quarter ends at the end of December. Sales are tracked daily. Inventory for retail is always done first of year to also help track fourth quarter sales estimates as well as taxes.

        • Orangeone

          Fiscal years for publicly traded companies are selected by the publicly traded company not by your calendar standards. Many retailers choose 1/31, many use a 4-5-4 calendar.

          Have you heard of Target Corporation? Do you know how to read an annual report? Here’s the link. Notice on the face page: For The Year Ended January 28, 2012. http://www.sec.gov/Archives/edgar/data/27419/000104746912002714/a2207838z10-k.htm

          Best Buy has a different year end. Notice on the face page: For The Year Ended March 3, 2012 http://www.sec.gov/Archives/edgar/data/764478/000076447812000035/bby-201210k.htm

          Perhaps you would like to inform the CEOs and the CFOs of Target Corporation and Best Buy that you disagree with their year end dates.

          • First of all Target and Best Buy do not comprise the entire retail industry. They are using the end of the first quarter for tax purposes however they use the last day of the year or end of the fiscal fourth quarter to set their retail budgets/projections for the next year. Industry makes forecasts in order to get loans for operations for the following year. Government uses those estimates as a barometer to measure health of the economy. Not the only barometer but one measure. 4-5-4 calendars are used for sales comparisons for week to week and not tax purposes. Manufacturing also does this. 4-5-5 is a better method in my opinion for trending purposes but that does depend on the industry you are in, or if in retail, the type of retail you operate.

            Once again, in your all out effort to be right at any cost, you show a real nasty side. You are completely nice if someone agrees with you…but disagree however slightly and wow! you get nasty. It doesn’t seem to matter what the topic is either.

            And yes as a matter of fact I can read an annual report as well as P&L statements, trend schedules, etc. since I have compiled more than a few in my life.

            Do you know any economics? Because you seem to be all knowing about every topic on every thread and heaven forbid someone think otherwise. Heaven forbid if someone doesn’t want to be part of your Borg.

            Well you don’t even need to know economics to understand the trend estimates and earnings estimates associated with fourth quarter especially in regards to retail. You need only listen to the news and the constant barrage of sales being up or down for Christmas. The constant barrage of earnings estimates for Black Friday and now Cyber Monday and whether those earnings estimates are met. The bulk of the industry counts October thru December as the Super Bowl of retail and that includes Target and Best Buy.

            Interesting you google and give me stats from two of the most leftard companies in America as well.

            • Orangeone

              Speak not of which you know nothing, your ignorance is laughable.

              I provided 2 examples of very large publicly traded companies in the retail sector. These ARE NOT TAX STATEMENTS.  Public companies do not release their earnings until their annual reports are filed.  Retail is always omitted at 12/31/12 which is why there is a huge adjustment.

              • We are not talking about the same thing. Read again.

                Is there a reason you are so unhinged that you cannot disagree without being disagreeable?

                • Orangeone

                  You aren’t worth the key strokes.  I suggest you get an education and a job.

                • Still spewing venom I see.

                  I have an education and a job/s and a family.

                  I also think it is rich that someone tells another person to get a job and an education that spends their entire day blogging, spewing misinformation and venom. Now you are making personal assumptions about people based on interactions on blogs…interactions that you don’t seem to react very well to.

                  I also think it is rich that you tell someone to get a job in this economy that you rant and rail about led by a president that you rant and rail about and most especially rich given the topic at hand.

                  The ironies never cease but they seem to escape you entirely.

      • NYGino

        Funny how the left appreciates Christmas when it comes to consumer spending and the seasonally adjusted employment bump but after that it’s un-American. Separation of Church and State you know.

  • Myptofvu

    Anybody that has been reading my stuff knows that I’ve been saying since Nov that we will be entering another recession when 1st quarter earnings come out (which is to say now) of course just like the last recession they won’t formally announce it till many months later and then say we entered the recession back in Jan/Feb.

    • mike3e4r7

      Think how much worse this coming recession would be if we didn’t have Obama to guide us through it /sarc. I predict that somehow the media will start refering to this as Bush’s 2nd recession.

      • Myptofvu

        I wondering the other day just at what point will they stop blaming Bush? Whats the magic number 10 trillion 20 50 What will it take?

  • Nukeman60

    ‘But didn’t Colin Powell say last night that the economy is recovering?’ – Scoop

    Timing is everything, doncha know. He also said he didn’t vote for Obama twice because he was black. Hmmm, he is consistent.

    I think, if I were Obama, I would go back to blaming Bush. I’m sure this economy is still his fault (as he has done nothing in the last four years to step in and help Barry).

    • MiketheMarine

      Problem with that is Bush probably has a collection of guns to drool over so it just couldn’t work.

  • MiketheMarine

    Maobama is an amazing man. The whole world is catching fire under his watch and somehow, someway, none of it is his fault.

    And G.W.Bush is an amazingly powerful, evil entity as all of this is his fault and he hasn’t left Crawford Texas in years.

    Simply amazing……..
    {sarc off}

    • mike3e4r7

      Bush had to deal with a Democratic congress his last two years and yet somehow the recession was entirely his fault. Obama loses control of half of congress his 3rd and 4th years, is still able to get most of what he wants, and somehow none of this is his fault.

      • MiketheMarine

        We are both well informed. Here is a clipping I’ve saved to show what you are saying in true numbers.

        Some people have short memories…..
        DO YOU REMEMBER JANUARY 3, 2007?

        I’ve been saying this for years, but this email probably explains it
        better and more clearly. This is NOT a political message, but rather
        a clarification to remind us all of the correct facts.

        Remember that on October 9, 2007, 11 months before our “economic
        crisis” occurred (that was actually created), the Dow hit its highest
        point ever, closing at 14,164.53 and reaching 14,198.10 intra-day
        level 2 days later. Unemployment was steady at 4.7%. But things were
        already being put in place to create the havoc
        we’ve all been experiencing since then. And it all started, as this email explains,
        on January 3, 2007. –LFL

        I’m sending this to each of you regardless of your party preferences
        because I believe it is something you may not have considered.

        This tells the story, why Bush was so “bad” at the end of his term.

        Don’t just skim over this, it’s not very long, read it slowly and let
        it sink in. If in doubt, check it out!!!

        The day the Democrats took over was not January 22nd 2009, it was
        actually January 3rd 2007, which was the day the Democrats took over
        the House of Representatives and the Senate, at the very start of the
        110th Congress.

        The Democrat Party controlled a majority in both chambers for the
        first time since the end of the 103rd Congress in 1995.

        For those who are listening to the liberals propagating the fallacy
        that everything is “Bush’s Fault”, think about this: January 3rd, 2007
        was the day the Democrats took over the Senate and the Congress.

        At the time:
        The DOW Jones closed at 12,621.77
        The GDP for the previous quarter was 3.5%
        The Unemployment rate was 4.6%
        George Bush’s Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB GROWTH

        Remember the day…
        January 3rd, 2007 was the day that Barney Frank took over the House
        Financial Services Committee and Chris Dodd took over the Senate
        Banking Committee. The economic meltdown that happened 15 months
        later was in what part of the economy? BANKING AND FINANCIAL

        Unemployment… to this CRISIS by (among MANY other things) dumping
        5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie
        Mae and Freddie Mac FIASCOES!

        Bush asked Congress 17 TIMES to stop Fannie & Freddie – starting in
        2001 because it was financially risky for the US economy.

        And who took the THIRD highest pay-off from Fannie Mae AND Freddie
        Mac? OBAMA And who fought against reform of Fannie and Freddie? OBAMA
        and the Democrat Congress.

        So when someone tries to blame Bush. REMEMBER JANUARY 3rd, 2007….

        Budgets do not come from the White House. They come from Congress and
        the party that controlled Congress since January 2007 is the Democrat Party.

        Furthermore, the Democrats controlled the budget process for 2008 &
        2009 as well as 2010 & 2011.

        In that first year, they had to contend with George Bush, which caused
        them to compromise on spending, when Bush somewhat belatedly got tough
        on spending increases.

        For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush
        entirely, passing continuing resolutions to keep government running
        until Barack Obama could take office. At that time, they passed a
        massive omnibus spending bill to complete the 2009 budgets.

        And where was Barack Obama during this time? He was a member of that
        very Congress that passed all of these massive spending bills, and he
        signed the omnibus bill as President to complete 2009.

        If the Democrats inherited any deficit, it was the 2007 deficit, the
        last of the Republican budgets. That deficit was the lowest in five
        years, and the fourth straight decline in deficit spending. After
        that, Democrats in Congress took control of spending, and that
        includes Barack Obama, who voted for the budgets.

        If Obama inherited anything, he inherited it from himself. In a
        nutshell, what Obama is saying is I inherited a deficit that I voted
        for and then I voted to expand that deficit four-fold since
        January 20th.

    • Conniption Fitz

      Actually, the GWB main house is in Dallas. His ranch is in Crawford.

      • MiketheMarine

        I know but military protocal suggests not giving out any real helpful info to potential enemies and, personally, I loved GW Bush as President. I wish I had served during his administration. Sure, he made mistakes but there was never a single question as to whether he Loves America and he Loves our troops.

  • c4pfan

    What Government spending cuts?!

  • A few more “successful” quarters like this and we’ll be in a depression. Funny how nobody in the mainstream media is screaming about this. I guess when a liberal Democrat is in the White House, it just doesn’t matter. But it will if you’re one of the 20 million people still looking for a job. Then it matters a lot.

  • tshtsh

    The left may love double speak ((“what is means”) but b.o. prefers double entendre. His favorite position is leading from behind that why he still blames Bush.

  • This is the economic plan that Colin Powell voted for. Twice.

    • Orangeone

      Powell is part of the 1% so he doesn’t give a rip. I say let’s take him out of retirement and deploy him to the South side of Chicago to confiscate guns from the criminals.

  • pmb88

    I thought revenue increases were off the table.
    Am I shocked that O blames some else besides himself, no.

  • Conniption Fitz

    Obama has never been a businessman. He has been a student of his ideology, a playboy and a politician all his life.

    He knows nothing about how economies are built – only how they are torn down.

    He only knows how to campaign, organize, propagandize and ram-rod his marxist ideology and sexual agenda.

    That’s all he is.

    • Orangeone

      He has been a student of his ideology, a play-with-boy and a politician all his life.

      Fixed it for ya!

  • “The finance minister of Zimbabwe Wednesday said his statement that the country only had $217 in its public account last week…”

    Which is $16,000,000,000,217 more than the US has now.

    Blame it on spending cuts??? What spending cuts?

    • ApplePie101

      Congratulations to Zimbabwe for having a surplus!

  • martha chandler

    Dear Lord, our we never to get rid of this clown in the WH??

  • mikeinidaho

    Yada, Yada, Yada it’s not my fault.
    Yada, Yada, Yada it’s Republicans’ fault.
    Yada, Yada, Yada it’s the storm’s fault.
    Yada, Yada, Yada it’s Bush’s fault.
    Yada, Yada, Yada it’s the American peoples’ fault!
    It’s MY fault.

  • ApplePie101

    My liberal friends are stunned to discover how much more they’re paying in taxes this year. They just can’t figure out how that happened.

    • tinlizzieowner

      What? You mean they don’t like paying ‘their fair share’? 😉 😉

      • ApplePie101

        Yes, they thought the millionaires and billionaires were the only ones being taken to the woodshed. It’s too bad that karma strikes all of us, even the ones that didn’t vote for O.

  • AmigoRed

    No, no, it CAN’T be inflation from spending!

  • bobemakk