Obama’s Brag, “We Tried Our Plan…and It Worked!” Faces Reality As Gloomy GDP Numbers Reported!

John W. Lillpop

Another bad Friday for The One as the 2nd Quarter GDP estimates for 2012 were reported by the Commerce Department. Not good news.

As reported:

“The Commerce Department reported Friday that the economy grew at the 1.5 percent rate from April to June, as Americans cut back sharply on spending. The rate matched expectations -- but expectations were low.

In a hastily convened conference call, the Mitt Romney campaign pointed to the figure as the latest sign the economy under Obama simply cannot produce enough growth to put millions of jobless Americans back to work.

"It's a picture of a decelerating economy," said Romney economic adviser Dean Glenn Hubbard. "At that pattern, the economy simply will never return to full employment."
A campaign email with a snapshot of the gloomy GDP headlines also poked at Obama's recent "you didn't build that" gaffe. The email was titled: "The Obama Economy: Barack Obama Built This."

While Republicans used the report as a campaign cudgel, the White House tried to look on the bright side -- in that, the economy is technically growing.

"Today's report shows that the economy posted its twelfth straight quarter of positive growth," Alan Krueger, chairman of the Council of Economic Advisers, said in a statement. "While the economy continues to move in the right direction, additional growth is needed to replace the jobs lost in the deep recession that began at the end of 2007."

This GDP report on the heels of Obama’s gushing about “We tried our plan—and it worked!” See Link below:


Pity the Poor Democrats: Down to celebrating the fact that the economy has yet to fall intoanother  recession, or worse.