The president’s economic spin-masters go into overdrive.
This is what happens when your Debt to GDP ratio is at 220% and your government’s economic plans consists of seizing land from farmers and handing it out to your cronies while trying to borrow even more money to keep the entire disastrous thing going.
The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That was a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
Barack Obama’s Jobs Council hit a notable milestone on Thursday: one year without an official meeting. The 26-member panel is also set to expire at the end of the month, unless Obama extends its tenure.
The number of people filing for first-time unemployment benefits in the week ending Saturday rose to 371,000 from a revised 367,000 the previous week, the Labor Department said Thursday. It was the fourth straight weekly increase.