The United States economy — through Gross Domestic Product — sank an unexpected 2.9% in the first quarter of 2014.
The U.S. economy shrank at a steep annual rate of 2.9 percent in the January-March quarter as a harsh winter contributed to the biggest contraction since the depths of the recession five years ago. But the setback is widely thought to be temporary, with growth rebounding solidly since spring.
Yet, the original first quarter GDP estimates touted by the Obama Administration suggested growth in the economy this year. Fueled by… wait for it… Obamacare!
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That was then, this is now.
MR. EARNEST: “What we have been focused on is a couple of aspects of the implementation of the Affordable Care Act. The first is, expanding access to health care for people all across the country. Eight million Americans signed up and taken advantage of that in the first few months, in the last couple of months of last year and the first few months of this year. That’s a tremendous accomplishment and one we are pleased about. What we have also seen is a variety of metrics indicates that the costs of health care, as measured in a variety of different ways has slowed.
At least new Press Spokesperson Josh Earnest is honest: Obama’s policies have tanked the economy.
