From The New York Times (Pics added by B.S. Report)
By NELSON D. SCHWARTZ
The economy got off to an even weaker start this year than first thought, the government reported Friday, as economic activity contracted amid a disappointing trade picture and continued caution on spending by businesses and consumers alike.
The 0.7 percent decline in economic output in the first quarter of 2015 was a reversal of the initial 0.2 percent advance for the period reported last month by the Commerce Department.
Much of the revision was spurred by fresh data showing businesses added to inventories at a slower pace than first estimated, while exports fell slightly more than first thought. A sharp pullback in energy exploration in the wake of falling oil prices is also putting pressure on business investment. (Read more.)
B.S. Report–Reading the entire story gives a clear idea of just how much the media is in the tank for this woeful president. This “reporter” very quickly assures us that the dreadful economic report is partly due to the harsh winter weather, the west coast ports slowdown, and that most economists still agree that there is no new recession headed our way. Always circling the wagons for Oblunder.
First off, we’ve never yet come out of the recession despite all this talk about an Obama Recovery and the various excuses offered don’t change that fact. We have harsh winter weather every winter and all the “reasons” offered are just another attempt by the lib media to provide cover for Obama’s policies which not only aren’t reviving the economy, they’re the impediment to a growing economy.
The only question at this point is whether Obama is actually pleased with this report as it’s more proof that his goal to grow government at the expense of a “private sector” economy is still right on schedule and going strong–unlike our economy.