In the private sector.
Public Sector employment continues to collapse.
This is unique. Public sector job growth increased during Reagan, Bush, Clinton and Bush.
And it adds more credence to the notion that Republicans are actively trying to sabotage the recovery.
its adds what? exactly?
can you even explain why in your own words? I doubt it...
so lets get back to that flimflam artist Jay Carneys comments-
the mouthpiece of the admin. that just dumped its Jobs Council, not that they did much , haven't met in a year, met int fact only 4 times, had a good guffaw over the shovel ready jobs not being so shovel ready, a flip quip that the media would have beat the snot out of Bush for as an out of touch elitist prig if he made it....but I digress;
so Carney said-
White House press secretary Jay Carney laid the blame for a surprise economic contraction squarely at the feet of congressional Republicans Wednesday, saying economic threats during the “fiscal cliff” negotiations had prevented important defense spending. …
Carney said economic observers were “rightly appalled” by the threat of sequestration or default to drive a debt deal, and charged that Republicans were harming the economy to the benefit of the wealthiest Americans.
“It can’t be we’ll let sequester kick in because we insist tax loopholes remain in place for corporate jet-owners,” Carney said.
White House: GOP responsible for contracting economy - The Hill
Ok so, lets go to the tale of the tape-
Liberals were also quick to blame alleged spending cuts. Jared Bernstein — a former Obama economic advisor — complained that "austerity at (a) time when we need a fiscal push" is the problem.
"Congress is applying medieval techniques," he wrote, "bleeding the patient while ignoring the indicators both here and abroad as to how that's working."
An interesting theory. Except that while the BEA says defense spending declined in Q4, overall federal spending was up $31 billion compared with Q4 2011 and up $98 billion compared with Q3 2012, according to monthly spending reports out of the Treasury Department.
And even assuming that the "huge cuts" from the sequester go through, spending this year will be about $570 billion higher than in 2008, and will consume 22.4% of GDP — a level reached only four times in the 63 years before Obama.
So maybe it's the lack of adequate stimulus?
Perhaps, but only if you ignore the Fed's massive ongoing pump-priming efforts, and the fact that the deficit in Q4 alone topped $292 billion — nearly double the deficit for all of 2007.
The lack of good excuses might explain why Obama and Co. are so desperate to put a positive spin on the numbers.
Democratic Party communications director Brad Woodhouse actually tweeted that this was "the best-looking contraction in U.S. GDP you'll ever see."
That's one way of looking at it.
Another is that slow to non-existent growth has become the new normal thanks to Obama's growth-choking policies, with the economy consistently under-performing expectations.
When Obama first took office, he forecast 4% GDP growth for 2011 and 2012, as did most everyone else.
Actual results: 1.8% growth in 2011 and 2.2% in 2012.
Just last summer, Obama was saying that Q4-over-Q4 growth in 2012 would be 2.6%. Actual result: 1.5%.
Read More At IBD:
As GDP Drops in Q4, President Obama Is Officially Out of Excuses - Investors.com
Hey Jay Carney....how about Gross Incompetence Jay? That work for you? Thats the reason why we tanked and the media, whorring for obama , never ever made him answer for any of the roadsigns heading this way during the reelection, like stopping Lockheed and a tons of other defense contractors etc. from sending out layoff notices that they were duty bound by law to do.......remember that one?
No, Of course you don't Sallow, you only remember what you are programmed to remember and since the media has zero interest in pursuing even that easy to digest and explain snippet, well, it is what it is, you're a sheep, nothing more.
You see, Obama and his Chicago brood knew this was coming, they just needed time and the media gave it to them.
