ABC: GDP Nosedive Could Handcuff Bush (no "good economy" to spin at SOTU)

[UpInArms]

http://abcnews.go.com/Business/story?id=1548547

Jan. 27, 2006 — A surprising government report this morning showed U.S. economic growth slowed considerably in the fourth quarter of 2004, an indication that skyrocketing energy prices were hitting consumers' wallets and slowing spending.

<snip>

This report raises speculation that the U.S. Federal Reserve may not raise interest rates when it meets next Tuesday. Before today, the majority of economists were betting that we'd see the 14th quarter-point interest-rate hike at the final meeting of Alan Greenspan's chairmanship.

Also at risk, some of President Bush's "clap" lines at next week's State of the Union address. The administration was set to crow about the amazingly resilient American economy, which had powered through pretty much anything that fate had thrown at it for the five years of the Bush presidency.

With this steep dip in growth, advisers and speechwriters might be forced to ratchet back the rhetoric for fear of giving Democrats some great "ad" fodder for the coming election cycle. If Bush is bullish on the economy, and it turns out we see a continuing downturn in growth in the next six months, voters will likely feel as though the administration is disconnected from their day-to-day lives.

The GDP report, the broadest measure of the health of the American economy, is very important, and the downturn is surprising.

...more at link...

[Punkingal]

1. But, but, but.....

He said yesterday the economy was great.

[tridim]

2. Yep, it doesn't matter

He'll say whatever sounds good, regardless of reality. The MSM will eat it up.

[tabasco]

3. That's right. He will lie through his teeth about the economy.

The feeble-minded freepers will go into throes of hero worship.

[DBoon]

17. He really isn't lying

The economy is still great for his base. They are making all kinds of money by outsourcing

[tabasco]

20. Don't lower the bar for him, like the media does so much.

He IS lying if he says the economy is great. His base is not the whole Union.

He knows about layoffs at GM, Ford, etc. but he will say the economy is great.

He IS a liar. He just lies so much it is not even news anymore.

[DBoon]

23. his base is the wealthy

he said so in the clip shown in F 9/11

This base does not really care about the US economy, as they have the ability to spread their investments and interest across the globe.

They can suck the US dry and move elsewhere.

The rest of us can't.

[calico1]

4. Oh come on!

This is the best economy we've had in years! Its so good, some people have 2 or 3 jobs! And don't forget...freedom's on the rise too! Let freedom reign!

[MADem]

5. A SURPRISING government report????????

The only assholes who find this report SURPRISING are the ones who are not paying attention. Everyone I talk to is feeling the pinch. Energy costs are skyrocketing, people are losing their jobs, taking pay cuts, having a tough time making ends meet, cutting back....the distance between the rich and the poor grows wider every day.

I mean, come off it. There's no surprise here. When you drive the economy off the damn road carting around a heavy, unbalanced "choice war" in the back of the pickup, it WILL slide into the ditch. And until we unload that cargo, we ain't gonna find a tow truck big enough to pull it out.

[pushycat]

33. DU Stock Market Watch has been discussing this for years... eom

[Yavin4]

6. How Can I Get A Job As An Economist?

They're never correct about the economy, and they're always "surprised" at the results.

[tridim]

8. There's your answer..

Just demonstrate to your potential boss that you never get anything right and act surprised about your complete lack of logic. Welcome aboard!

[Zynx]

18. All you do is put your estimates in line with the "consensus" and you can

all act surprised together!

[Democrats_win]

7. 25 years of conservatives & we´ve finally arrived: the poor house.

[AX10]

9. A recession is most likely coming this year.

More bad news for *.

Retake Congress.

[gulliver]

10. "fourth quarter 2004?" Is that date right? n/t

[Inland]

14. It seems wrong.

other articles have 2005. http://www.forbes.com/entrepreneurs/feeds/ap/2006/01/27/ap2482440.html

[leftchick]

11. since when has the bad economy ever stopped him

from lying about it?

[sendero]

26. My though exactly..

... Bush hasn't been honest about anything since the day he took office, and the economy he's exceptionally prone to lying about.

Most Americans wouldn't know GDP from GOP, Bush will simply issue more happy talk and everyone will sit down and shut up.

[daleo]

12. "Handcuff Bush"

What a beautiful image.

[ItsTheMediaStupid]

27. I'd love to see his hands cuffed behind him doing the perp walk

Useless greedy criminals.

[Tamarin]

13. Oh, the horror!

We wouldn't want voters to *feel as though the administration is disconnected from their day-to-day lives*. Whoops! Too late, it's already happening.

[rocktivity]

15. Candidate for this month's "You Call This NEWS?" award

A "suprising" government report shows "considerably" slower economic growth? WHO'S suprised???

:headbang:
rocknation

[UpInArms]

36. well, never let it be said that I miss the obvious

:hi:

[Mountainman]

16. They will still say the economy is great!

Repukes don't give a shit about reality. It's all about perception and lies. The state of the union speech will be another assault on my intelligence which is why I won't be paying attention to it.

[PATRICK]

19. He could just tone it down

The smart thing would be just to make the SOTU modest and meaningless and not make things worse when more people are watching. All the symbolic tripe he trundled out is gone up in smoke and he's got the power, why bother to slug it out with reality in front of the last people who care?

Nulcear plants. Not as sexy as Mars or an oil empire. I bet he makes a couple of digs to force the Dems to respond to things less important than the current power grap and criminal actions.

[dicknbush]

21. They are so accomplished at lying and getting away with it it won't matter

He will say whatever he wants to say and put in a few wiggle words and that will be thend of it. I must say that I am on the verge of giving up on politics in general. This country is to stupid to even know they are being screwed and that they are paying for the screwing and putting the bill on their children as well. It is really a very sad day. Alito is going to get his seat, the lead investigator in Jack-Off lobbying scandel is getting a federal judgeship (can you imagine if it was Clinton who was presidnet and appointed one of the investigators that were lined up against him can you imagine)Bush is immune at this point and I do not expect the american public to pay attention to much longer to any of this and they will be back in front of thier TV paying more attention to American Idol then they are to the errosion of their rights. Very sad Very sad. I am moving in the direction of no longer being part of the politics of this country if I could only figure out a way to stop paying these fools who run our country.....well actually it isn't my country any more I will say their country form now on.

[onehandle]

22. Lies don't require facts to back them up.

It's the story of his Administration.

Without lies, he's not a Bush. Or a Republican.

[MrPrax]

24. 'Handcuff'

Good to see editorializing headlines go the other way, for a change...

[Ezlivin]

25. He'll just direct the Treasury to print enough bills to get us out of this

Yeah, that's the ticket.

[spanone]

28. The Truth has never stopped him from lying before, why now?

[spotbird]

31. Exactly,

He'll claim the country has never been more prosperous and that will be that.

[truthisfreedom]

29. watch this report get buried with a new one with "surprisingly good news"

replacing it. it's the bushco way.

[Roland99]

30. Oh, he'll spin it to be Katrina and Rita and fear of more terror attacks

Nevermind the lackluster holiday season and the fact that the GDP is only above 0% because of people pulling cash out of their home's equity.

[yellowcanine]

32. 1.1 % is getting close to recession territory - or at least "soft landing"

and a "slow down". Hmm. Spin THAT, George.

[natrat]

34. whatever the truth is emperor bunnypants will say the opposite n/t

[IA_Seth]

35. Like that will stop anything...

Ol shitfaced will still say the economy is doing just fine (and might even throw in that spending money is "hard work")...and the majority of Americans will praise the lord as they nod their heads.